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NeoPhotonics Provides Business Update Following Recent U.S. Department of Commerce Tightening of Restrictions on Huawei – Press Release

SAN JOSE, Calif.–(Business Wire)–NeoPhotonics Corporation (NYSE: NPTN), a leading developer of silicon photonics and advanced hybrid photonic integrated circuit-based lasers, modules and subsystems for bandwidth-intensive, high speed communications networks, today provided a business update following the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) updated actions on August 17, 2020.

Recent actions by the BIS in the Department of Commerce (Commerce) have increased restrictions on Huawei and its affiliates on the Entity List related to items produced domestically and abroad that use U.S. technology or software and have imposed new license requirements for items subject to Commerce export control. NeoPhotonics has closely evaluated these restrictions and currently targets achieving its third quarter outlook provided on August 4, 2020, with shipments to Huawei contributing approximately $40 million of revenue in the quarter. Beyond the third quarter, the Company is still assessing the full impact of the current BIS restrictions.

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