Image source: Oclaro. 

What: Shares of Oclaro, Inc. (NASDAQ:OCLR) were moving higher today after the company blew past estimates in its fourth-quarter earnings report. As of 2:48 p.m. EDT, the stock was up 11.3%.

So what: The maker of optical components used in high-tech applications posted adjusted earnings of $0.11 per share, up from a loss of $0.06 per share in the quarter a year ago and better than expectations of a $0.06 profit. On the top line, revenue jumped 52.3% to $125.2 million, topping the consensus at $120 million.

CEO Greg Dougherty noted that the quarter marked an all-time record in gross margin and operating income, and said growth was driven by the strength of the 100G product line, whose revenue grew 36% sequentially. 

Now what: The accelerating growth is certainly a good sign for investors. For the current quarter, the company expects that momentum to continue, with a revenue forecast of $126 million to $134 million, well ahead of Wall Street's view of $117.4 million. 

Oclaro and its peers got a boost a week ago when Needham & Co. analysts upgraded the group of stocks to strong buy, calling for a megacycle in optical technology. The acceleration in the 100G line could be the latest indication that such a growth spurt is beginning. Improving gross margins and substantial profit growth are also bullish signs for the company as it moves into a new fiscal year. If the 100G line continues to deliver results, shares should move higher from here.