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April 17, 2018, 7:18 a.m. EDT

NeoPhotonics reveals effect of ZTE export ban on revenue

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By Tomi Kilgore

NeoPhotonics Corp. /zigman2/quotes/201393867/composite NPTN -1.10% said Tuesday it will miss out on an expected 5% of annualized revenue as a result of the U.S. Commerce Department's ban on exports to China-based ZTE Corp. /zigman2/quotes/209674390/delayed CN:000063 -3.08% . The maker of optoelectronic modules said its estimate comes from the belief that it would have grown revenue with ZTE from a year ago and from its supply chain partners given share awards and new product design wins. In 2017, the company had direct revenue from ZTE of about 1% of total revenue, and received about 3% of total revenue from ZTE's supply chain partners. Separately, the company had inventory valued at about $1.5 million that was designated for ZTE, which will be written off in the first quarter. NeoPhotonics shares had slumped 4.0% on Monday after the export ban was announced. The stock, which was still inactive in premarket trade Tuesday, had lost 0.9% year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -4.41% had gained 0.2%.

/zigman2/quotes/201393867/composite
US : U.S.: NYSE
$ 7.17
-0.08 -1.10%
Volume: 701,658
April 1, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$352.62 million
Rev. per Employee
$182,329
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/zigman2/quotes/209674390/delayed
CN : China: Shenzhen
¥ 41.48
-1.32 -3.08%
Volume: 121.43M
April 1, 2020 3:00p
P/E Ratio
34.08
Dividend Yield
0.48%
Market Cap
¥179.47 billion
Rev. per Employee
¥1.21M
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/zigman2/quotes/210599714/realtime
US : S&P US
2,470.50
-114.09 -4.41%
Volume: 3.67B
April 1, 2020 5:09p
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