SAN JOSE, Calif.--(BUSINESS WIRE)--NeoPhotonics, a leading designer and manufacturer of advanced hybrid photonic integrated optoelectronic modules and subsystems for bandwidth-intensive, high-speed communications networks, today issued a statement regarding the United States Department of Commerce publication in the Federal Register of a “final rule” amending the Export Administration Regulations that added four entities to the “Entity List” maintained by the Department for actions contrary to the national security and foreign policy interests of the United States. The additions included the following two customers of NeoPhotonics: Zhongxing Telecommunications Equipment Corporation and its subsidiary, ZTE Kangxun Telecommunications Ltd., referred to collectively as ZTE.
NeoPhotonics revenue to ZTE during fiscal year 2015 were approximately one percent of total revenue, and the company does not anticipate materially different revenue from ZTE in the first quarter of 2016 or in the 2016 fiscal year.
This event has caused no change to the outlook for the quarter ending March 31, 2016 provided in the company’s quarterly financial results press release of March 1, 2016.
NeoPhotonics is a leading designer and manufacturer of advanced hybrid photonic integrated optoelectronic modules and subsystems for bandwidth-intensive, high-speed communications networks. The Company’s products enable cost-effective, high-speed data transmission and efficient allocation of bandwidth over communications networks. NeoPhotonics maintains headquarters in San Jose, California and ISO 9001:2000 certified engineering and manufacturing facilities in Silicon Valley (USA), Japan and China. For additional information visit www.neophotonics.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This press release includes statements that qualify as forward-looking statements under the Private Securities Litigation Reform Act of 1995, including those related to the company. Readers are cautioned that these forward-looking statements involve risks and uncertainties and are only predictions based on the company’s current expectations, estimates and projections about their respective industry and business, management’s beliefs, and certain assumptions made by the company, all of which are subject to change and which may differ materially from actual future events or results. The actual company results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks, uncertainties and assumptions. Certain risks and uncertainties that could cause the company’s results to differ materially from those expressed or implied by such forward-looking statements as well as other risks and uncertainties relating to the company’s business, are described more fully in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2015 filed with the Securities and Exchange Commission.
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