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This paper presents a theoretical and experimental study in terms of small-signal gain, signal gain saturation, and noise characteristics of a 1.5 micrometer GaInAsP traveling-wave amplifier (TWA), realized through the application of SiO2 film antireflection coatings. This TWA, having a residual facet reflectivity of 0.04 percent, exhibits, a wide, flat signal gain spectrum and a saturation output power of +7 dBm at a 20 dB signal gain. The TWA also has a noise figure of 5.2 dB, which is the smallest value reported for semiconductor laser amplifiers. The experimental results are confirmed to be in good agreement with the theoretical predictions based on the multimode traveling-wave rate equations in conjunction with the photon statistic master equation analysis, which takes into account the amplifier material and device structural parameters. Signal gain undulation, saturation output power, and noise figure are also theoretically evaluated as functions of the facet reflectivity. The superior performance of the TWA demonstrates that the device is favorable for use in linear optical repeaters in fiber transmission systems.