II-VI: Huawei Ban Will Have Minimal Impact
Company says Q4 guidance unchanged and foresees no effects on merger with Finisar
II‐VI, an optoelectronic components and materials company, has shared its analysis of the US Commerce Department's amendment of the Entity List. The US Commerce Department placed Huawei and its affiliates on the Entity List effective May 16, 2019, restricting trade from the US.
The company says that the directive, which affects certain sales of US origin into the supply chain of Huawei and its affiliates, will have minimal effects on the company's sales and prospects.
As a result, the company is reaffirming its prior guidance for its fiscal Q4 2019. The company will continue to monitor any updates to this directive to assess any changes that may be required and will be fully compliant.
At this time, the company does not expect these developments to affect the merits of the merger with Finisar, which is still expected to complete mid calendar year 2019.