NeoPhotonics To Buy Some Assets From EMCORE, Updates Q3 View - Quick Facts

(RTTNews) - NeoPhotonics Corp. (NPTN) said it has entered into a definitive purchase agreement with EMCORE Corp. (EMKR) to purchase the assets of EMCORE's tunable laser and transceiver product lines for approximately $17.5 million.

This consists of $15.0 million and a working capital and inventory adjustment of approximately $2.5 million. The transaction is expected to close by early January 2015.

Further, the company updated its outlook for the third quarter. The firm sees adjusted results in a range of a net loss of $0.04 per share to earnings of $0.06 per share. Revenue is estimated in the range of $80 million to $82 million.

Analysts expect a loss of $0.09 per share on revenues of $80.42 million.