NPTN - NeoPhotonics -4.2% as post-Huawei life includes dim Q4 profit guidance

NeoPhotonics (NPTN) is -4.2% postmarket after its Q3 earnings came in mostly in line with expectations, as the company prepared for life after Huawei, but contained downbeat profit guidance for the current quarter. Revenues rose nearly 11%, to $102.4M. And gross margin rose to 33.6% from a year-ago 29% and last quarter's 33.2%. Non-GAAP net income was flat at $0.11 (down from last quarter's $0.16). Cash generated from operations was $15M, up from a year-ago $9M. EBITDA was $13.1M, down from last year's $14.2M. "We took decisive actions to better align our capacity and production infrastructure with expected demand levels without relying on future revenue contributions from Huawei, resulting in a restructuring charge of approximately $9.4 million in this quarter," says CEO Tim Jenks. "Excluding Huawei, our products for 400G and above applications grew 91% year to date, and were 44% of Q3 revenue." He expects to expand the business

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NeoPhotonics -4.2% as post-Huawei life includes dim Q4 profit guidance