Lumentum, NeoPhotonics: Nothing to see here on ZTE
Optical component and subsystems vendors continued to react to the news that the U.S. Department of Commerce has slapped export restrictions on Chinese communications systems vendor ZTE (see "ZTE faces export sanctions from US Department of Commerce"). In the wake of a significant downturn across the board in the stock prices of publicly traded optical technology suppliers, particularly after Oclaro revealed that ZTE will represent more than 10% of revenues in Oclaro's third fiscal quarter (see "Optical component suppliers brace for ZTE export ban effects"), Lumentum (NASDAQ:LITE) and NeoPhotonics attempted to distance themselves from the conflagration by announcing that they aren't in the same boat as Oclaro.