Applied Optoelectronics (NASDAQ:AAOI) stock is climbing higher on Friday after the company revealed a $150 million asset sale.
This has Applied Optoelectronics agreeing to sell its manufacturing facilities in China to Yuhan Optoelectronic Technology. These facilities and assets are connected to the company’s transceiver business.
Applied Optoelectronics notes that the funding will allow it to focus on other parts of the business, including opportunities with higher margins and higher growth. All of this is part of the company’s plan to become profitable.
This post originally appeared at InvestorPlace.