Fiber-optic components maker
was down 13.8% in preopen
After the close Monday, the company projected revenue of $170 million to $190 million, down from its earlier estimate of $240 million. The Street expects the company to report $228.8 million. The company also said it will lay off about 22% of its workforce in China and 8% of its U.S. workers amid recent order cancellations.