II-VI’s June-quarter guidance unchanged by US restrictions on exports to Huawei

After a detailed analysis, engineered materials and optoelectronic component maker II-VI Inc of Saxonburg, PA, USA has concluded that there will be minimal effects on its sales and prospects from the US Department of Commerce on 16 May adding Huawei Technologies Co Ltd and 68 of its affiliates to its ‘Entity List’ prohibiting the sale to Huawei of products covered by the Export Administration Regulations (EAR) without obtaining an appropriate export license. As a result, II-VI is reaffirming its prior guidance for fiscal fourth-quarter 2019 (to end-June).

The firm says that it will continue to monitor any updates to this directive to assess any changes that may be required and will be fully compliant.

II-VI currently does not expect these developments to affect the merits of the merger with fiber-optic communications component and subsystem maker Finisar Corp of Sunnyvale, CA, USA, which is still expected to complete mid calendar year 2019.

Tags: Optical communications II-VI Inc

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