April 17, 2018 / 11:10 AM / 9 days ago

BRIEF-Neophotonics Issues Statement Regarding U.S. Department Of Commerce Ruling On Zte

April 17 (Reuters) - NeoPhotonics Corp:

* NEOPHOTONICS ISSUES STATEMENT REGARDING U.S. DEPARTMENT OF COMMERCE RULING ON ZTE

* NEOPHOTONICS CORP - DIRECT REVENUE FROM ZTE DURING FISCAL YEAR 2017 WAS APPROXIMATELY 1% OF TOTAL REVENUE

* NEOPHOTONICS - AS OF MARCH 31, CO HELD PRODUCTS IN INVENTORY DESIGNATED FOR ZTE THAT WERE VALUED AT ABOUT $1.5 MILLION THAT WILL BE WRITTEN OFF IN Q1

* NEOPHOTONICS - CO PROVIDES COMPONENT PRODUCTS TO SOME ZTE SUPPLY CHAIN PARTNERS WHICH IS ESTIMATED IN 2017 TO HAVE BEEN ABOUT 3% OF TOTAL REVENUE

* NEOPHOTONICS CORP - CO PROVIDES COMPONENT PRODUCTS TO CERTAIN ZTE SUPPLY CHAIN PARTNERS ESTIMATED IN 2017 TO HAVE BEEN ABOUT 3% OF TOTAL REVENUE

* NEOPHOTONICS - HAD EXPECTED UP TO 5% OF ANNUALIZED REVENUE FROM CUSTOMERS RELATING TO ZTE WHICH WILL NOT BE REALIZED Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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