Oclaro (OCLR) Comments on Export Administration Regulations 'Final Rule' with Respect to ZTE
Get Alerts OCLR Hot Sheet
Join SI Premium – FREE
Oclaro, Inc. (Nasdaq: OCLR) provided a statement regarding the publication by the United States Department of Commerce in the Federal Register of a "final rule" amending the Export Administration Regulations to add four entities to the "Entity List" maintained by the Department for actions contrary to the national security and foreign policy interests of the United States, including Zhongxing Telecommunications Equipment Corporation and its subsidiary, ZTE Kangxun Telecommunications Ltd., or ZTE. These amendments became effective immediately. ZTE purchases multiple products from Oclaro. Oclaro is currently reviewing the impact of this action by the Department of Commerce on our ability to continue to ship products to ZTE and intends to fully comply with the Department's final rule.
Revenues to date from ZTE are currently projected to exceed 10% in Oclaro's third fiscal quarter of 2016. Oclaro currently expects its results for the third fiscal quarter to be at the low end of the guidance ranges it provided on February 2, 2016.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Volcon (VLCN) Reports 2023 Operational and Financial Results
- Expedia (EXPE) Appoints Jochen Koedijk as Chief Marketing Officer, Brad Bentley as COO of Consumer Business
- EverCommerce (EVCM) Appoints Ellora Sengupta as CIO
Create E-mail Alert Related Categories
Corporate News, Guidance, LitigationRelated Entities
Twitter, Earnings, Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!