Entering text into the input field will update the search result below

NeoPhotonics +1.5% on outlook cut

May 23, 2019 7:53 AM ETLumentum Holdings Inc. (LITE) StockBy: Brandy Betz, SA News Editor
  • NeoPhotonics (NYSE:NPTN) joins Lumentum, Qorvo, and Inphi in cutting its outlook due to uncertainties around the U.S. actions against Huawei.
  • For Q2, NPTN now expects GAAP revenue of $75M to $80M, down from $88M to $93M.
  • Adjusted EPS is trimmed from -$0.06 to $0.04 to -$0.15 to -$0.05. Non-GAAP gross margin falls from 25% to 29% to 22% to 26% and operating expenses adjust from within $0.5M of $24M to the range of $22M to $23M.
  • NeoPhotonics says it has fully complied with the blacklist order and stopped shipments and that the action will have a material impact on the company.
  • Management quote: “Our objective is now to move rapidly to lower manufacturing and operating expense levels to be cash positive at a lower revenue level."
  • NPTN shares are up 1.5% pre-market.

Recommended For You

More Trending News

About LITE Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
LITE--
Lumentum Holdings Inc.