Global business news twenty four hours a day at Bloomberg dot com, the Radio plus mobile last, and on your radio. This is a Bloomberg Business Flash from Bloomberg World Headquarters. I'm Katherine Cowdery, Bloomberg. Taking SOCC is brought to you by National Realty Providers of one Satisfaction guaranteed New York City Realty Investments. See them at n r I A dot net. We chalk to markets every fifteen minutes throughout the trading day. Let's go over to the First Word
Breaking news desk for today's afternoon call with Bill Maloney. Bill, good afternoon, Katherine. It's been a quiet day for the main U savages, with the Dow currently down fifty two points, subs drop four, and that ZAK is little changed. The small cap six hundreds down two points. In the U S ten yield that one point five one per cent seven out of tennis B sectors are lower, led by lasses in materials, tele com, and the industrials. Energy, consumer,
staples and utilities gained down. Transports drop forty one, as a bytext game five you, utilities rise one, and the VIX is little changed. Down leaders said. The downside included DuPont, IBM and Microsoft will X on mobile and Coca Cola led to the upside. Nordstrom gained as much as nine a half percent after its earnings, while in the video
game five percent after its results. Live from the first breaking news desk gone, Bill Maloney, Katherine, thank you villan to hear live breaking news of your Bloomberg type s q u a K on your terminal less Texas intermediac crude oil currently up ninety six cents of barrel two point two percent to forty four forty five spot goled down nine dollars announced to thirteen forty one even. Ten year treasury up thirteen thirty seconds yield one point five
one percent. And that's a Bloomberg business flash. You're listening to taking stock with Kathleen Hays and Pim Fox on Bloomberg Radio. Acacia Communications reporting their first results and performance since the I p O that took place in May. Here to tell us more is John Gavin. He is the chief financial officer and he joins us now. John, thanks very much for being with us, Oh, thanks for having us on the call today. Tell us a little
bit about Acacia Communications. I know they're based in Boston, home to Bloomberg. Tell us a little bit about the company and how you help traditional telecom carriers. Sure I'd be glad too. So little history in Acacia, founded back in June of two thousand and nine. We're here in the old Mannard Mill complex where Digital Equipment Corporation was
headquartered for many years. What we really do is we build a product called a optical interconnect module, and that module is is a subsystem that sits into the switching gear for fiber optics networks. And what we do is we have a two silicon building blocks, a DSP, a SICK and a technology and those two chips have radically simplified building some of these high speed switching devices that are required for the bandwidth needed by the telecommunications and
content service providers around the globe. So what you make it easier for them to build their high speed networks, or you make it easier for them to build them smaller, or you make it easier for them to go faster. What is it? No, that's a great question. So we we do almost all the above. So today one of the biggest problems and networks is is that the older
fiber optics systems were either ten or forty gigabyte. And because of the explosive demand for all the applications out there, be it voice based, be it mobile, be a cloud computing, all of those applications now have increased the worldwide demand for capacity. So our products have taken those switching capacities. So at the core of what we do, we take the LightWave signals, we convert them to digital signals and
back if need be, at very very high speeds. So by being able to increase the capacity of the of the devices that they have, they're able to almost instantly increase their throughput capacity to handle these ever increasing workloads that are that are proliferating the networks around the world today. John, it also seems that you've been able to at least turn some investor money into even more investor money. Your stock is of forty you see, your stock is of
forty percent today. Yes, you have a lot of happy people there. We have a lot of happy employees, we have a lot of happy investors, and it's it's been a very good day for occasion. Yeah. I mean, obviously if you double your revenue year over year, that kind of thing tends to happen. How how is that doubling happening. Are you winning business from competitors, or is this business just growing so much where you're operating in China and Germany here in the US. Well, that's a great question.
I think what's happening right now is that there's a glow mobile explosion and need for bandwidth build out the sheer rock capacity, and that's happening at various parts of the network. So originally the long haul part of the network, these are these are very long connections sometimes under the sea, trans specific Transatlantic. A lot of those connections were upgraded first.
Now we're seeing this second wave where the metro location, so these are a lot more connections in major metropolitan areas across the world needing this increase or upgrade incapacity. And then, as you said earlier, there are certain markets that are real high growth right now, is particularly in China, where there is really almost a national agenda to upgrade their infrastructure so that their internet backbone activity can be
at at a much highest throughput level. So there's a lot of market moving factors that have created global demand for our products that we support our customers for. Yeah, your three year growth in China is more than in Germany. You're basically tripling over three years. Um, where's your where is your focus right now? Because those two markets are bigger for you than say the US or other European nations. Yeah, those maybe more traditional market growth areas for US, but
we're really seeing a trend of global demand for these products. So, for instance, in North America, there are a lot of the web scale service providers who are now starting to build out next generation networks of their own networks, and so they're starting to be at the beginning parts of ramping up their capacity in order to service their customers better. So we're really seeing demand factors across the board globally increase for the types of products that we produce, John,
are you hiring right now? What kinds of positions are you looking to fill? Yees? So that's a great question. We're always hiring. Um, we have very technical product as you can imagine, so we're always looking for are people who have optical and electrical engineering expertise. Uh, we're hiding across the board. In terms of operational activity, a lot
of what we do is very complex manufacturing. So our operations team is is growing as well, so it's really across the board in a lot of technical disciplines and always looking for for the best and brightest. All right, John, thanks so much. John. Gavin there the chief financial officer of Acacia Communications three and a half billion dollar market cap, and as PIM says, fort of that comes from today's trading alone. The takers a c I A equity. This
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