NPTN - NeoPhotonics raises Q3 outlook

NeoPhotonics (NPTN) reports Q3 revenue of $101-103M (prior: $97-105M), adjusted EPS of $0.10-0.14 (prior: $0.03-0.13), and adjusted gross margin of 32-34% (prior: 30-34%).As previously announced, the company has adopted a "conservative approach" to exclude Huawei contributions from the outlook due to the August 17 tightening of the U.S. actions against the company.The company has tightened production operations, consolidated Iridium Phosphide production, and implemented a 4% workforce reduction.The actions should add $12.!M in costs, which will mostly be recognized in Q3.NPTN shares are up 3.7% pre-market to $6.21.

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NeoPhotonics raises Q3 outlook