The company’s current expectations for the full year of 2013 are for revenue growth in the range of 8% to 10% over 2012, and assuming that level of growth, profitability on a full year non-GAAP basis.
In connection with the announced acquisition of LAPIS OCU, which is not a standalone company and has historically not prepared separate financial statements, audited financial information for the business unit is not yet available. Based on preliminary unaudited pro forma financial information provided by management of LAPIS Semiconductor, OCU had revenue of approximately $45 million for the first nine months ended September 30, 2012. Based on the company’s estimates, the addition of OCU is expected to be accretive to the company’s Adjusted EBITDA within the first year following the transaction. The parties expect the transaction to close in the second quarter or sooner and completion of the transaction is subject to various customary closing conditions. Following the consummation of the transaction, NeoPhotonics will file with the Securities and Exchange Commission the required historical and pro forma financial results reflecting the acquisition.
The company will discuss these financial results in a conference call at 5:00 p.m. EST today. The public is invited to listen to a live webcast of the conference call on the Investor Relations section of the company website at http://ir.neophotonics.com. A replay of the webcast will be available on the Investor Relations section on the company’s website approximately two hours after the conclusion of the call.About NeoPhotonics NeoPhotonics is a leading designer and manufacturer of photonic integrated circuit, or PIC, based optoelectronic modules and subsystems for bandwidth-intensive, high-speed communications networks including coherent 100G data rates. The company’s products enable cost-effective, high-speed data transmission and efficient allocation of bandwidth over communications networks. NeoPhotonics maintains headquarters in San Jose, California and ISO 9001:2000 certified engineering and manufacturing facilities in Silicon Valley (USA) and Shenzhen, China. NeoPhotonics has been included in the Russell 3000® Index since June 2011. For additional information, visit www.neophotonics.com © 2013 NeoPhotonics Corporation. All rights reserved. NeoPhotonics and the red dot logo are trademarks of NeoPhotonics Corporation.