MILPITAS, Calif., March 08, 2016 (GLOBE NEWSWIRE) -- Lumentum Holdings Inc. (“Lumentum”) today provided a statement regarding Zhongxing Telecommunications Equipment Corporation (ZTE) and related entities in light of the U.S. Commerce Department’s amended Export Administration Regulations regarding ZTE.
Lumentum noted that the Company’s sales to ZTE were less than one percent of the Company’s total sales during the first half of fiscal 2016 and recent business levels have not been material.
Lumentum (NASDAQ:LITE) is a market-leading manufacturer of innovative optical and photonic products enabling optical networking and commercial laser customers worldwide. Lumentum’s optical components and subsystems are part of virtually every type of telecom, enterprise, and data center network. Lumentum’s commercial lasers enable advanced manufacturing techniques and diverse applications including next-generation 3D sensing capabilities. Lumentum is headquartered in Milpitas, California with R&D, manufacturing, and sales offices worldwide. For more information, visit www.lumentum.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include Lumentum’s business with ZTE and the effect of the amended Export Administration Regulations. These statements are subject to risks, including changes in customer orders and changes in government regulations. For more information on these and other risks, please refer to the "Risk Factors" section included in the Company’s Quarterly Report on Form 10-Q for the fiscal second quarter ended December 26, 2015 filed with the Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date hereof and the Company assumes no obligation to update such statements, except as required by applicable law.
Source:Lumentum Holdings Inc.