27 May 2020
NeoPhotonics reaffirms Q2 guidance despite US export restrictions
Regarding the US Department of Commerce’s Bureau of Industry and Security (BIS) on 22 May announcing the impending addition of certain Chinese companies to the Export Administration Regulations (EAR) Entity List, NeoPhotonics Corp of San Jose, CA, USA – a vertically integrated designer and manufacturer of silicon photonics and hybrid photonic integrated circuit (PIC)-based lasers, modules and subsystems for high-speed communications – says that the action will potentially restrict the export of items subject to the EAR to its customer FiberHome Technologies Group. NeoPhotonics says that it will continue to monitor BIS guidance to assess the final ruling and any changes that may be required, and will remain in full compliance.
The firm says that it does not anticipate any material impact on its near-term financial prospects and currently expects second-quarter 2020 results to be within the upper half of its guidance ranges (given on 30 April) of revenue of $94-102m, gross margin of 30-34%, operating expenses of $24-25m, and diluted earnings per share of $0.05-0.15.
NeoPhotonics’ Q1 revenue up a greater-than-expected 23% year-on-year to $97.4m