- NeoPhotonics (NYSE:NPTN) reports Q3 revenue of $101-103M (prior: $97-105M), adjusted EPS of $0.10-0.14 (prior: $0.03-0.13), and adjusted gross margin of 32-34% (prior: 30-34%).
- As previously announced, the company has adopted a "conservative approach" to exclude Huawei contributions from the outlook due to the August 17 tightening of the U.S. actions against the company.
- The company has tightened production operations, consolidated Iridium Phosphide production, and implemented a 4% workforce reduction.
- The actions should add $12.1M in costs, which will mostly be recognized in Q3.
- https://seekingalpha.com/news/3619733-neophotonics-raises-q3-outlook
Monday, October 5, 2020
NeoPhotonics raises Q3 outlook
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