"We expect our net sales results to exceed the high end of our previous guidance range as the supply chain shortages from the flooding in Thailand improved throughout the quarter," CEO Reza Megh said in a statement. "We also saw an increase in shipments to our largest key customer. The increased orders improved capacity utilization which we expect to result in gross margin also exceeding the high end of our previous guidance."
He added that the company sees less of a seasonal decline in the second quarter than it has historically experienced; it expects year-over-year sales growth in the period.
The company noted that 66% of revenue came from a single customer - which is widely believed to be Apple.
The report is likely to fuel a new round of optimism about Apple's December quarter results.
