Acacia expects little impact from loss of sales to Huawei [MarketWatch]
ACACIA COMMUNICATIONS (ACIA)
Last acacia communications earnings: 2/18 04:01 pm
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Source: MarketWatch
Acacia expects little impact from loss of sales to Huawei Optical equipment maker Acacia Communications Inc. ACIA, -5.82% said Friday that it was "taking steps" to suspend transactions with Huawei Technologies Co. Ltd., following U.S. export control regulations to the China-based company. Acacia said sales to Huawei represented less than 1.5% of total revenue for 2018, and was less than 1% of total first-quarter revenue. The stock fell 5.8% on Thursday after President Trump issued an executive order which banned technology and services from foreign adversaries. "Acacia anticipates that the loss of Huawei sales in the second quarter of 2019 will have a de minimis impact on Acacia's total revenue for the quarter," Acacia said in a statement. The company acknowledged, however, that regulatory actions against Huawei "may have a broader impact on overall conditions in the markets in which Acacia operates." Acacia's stock has rallied 31% year to date, while the Nasdaq Composite COMP, +0
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