NeoPhotonics Corp. shares dropped in the extended session Monday after the optical networking company cut its outlook and announced the divestiture of its low-speed transceiver business. NeoPhotonics shares fell 18% to $10.18 after hours. The company forecast adjusted fourth-quarter earnings of 3 cents to 11 cents a share on revenue of $105 million to $109 million because of delayed shipments from one of its new factories. Analysts surveyed by FactSet had estimated earnings of 17 cents a share on revenue of $112.6 million. Additionally, NeoPhotonics said it is selling its access and low-speed transceiver product lines to Shenzhen, China-based APAT Optoelectronics Components Co. for $26.4 million.
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