Picometrix® Division of Luna Continues 100G Telecom Success
March 13 2017 - 3:30PM
Business Wire
Enhances Relationship with Key Customer
Luna Innovations Incorporated (NASDAQ: LUNA) today announced
that its Picometrix® division has entered into a Vendor Managed
Inventory (“VMI”) Agreement with a leading China provider of
telecommunications equipment and network solutions. This agreement
will integrate Picometrix more closely into the customer’s supply
chain and manufacturing processes. Under the agreement, Picometrix
will maintain in Hong Kong a dedicated inventory of 100G integrated
coherent receivers and other future approved products, which its
customer can draw into manufacturing on a “just in time” basis.
“We believe that being pulled closer into the sourcing and
manufacturing processes of this significant customer demonstrates a
strengthening strategic relationship between our two companies,”
said My Chung, president and chief executive officer of Luna. “This
relationship is a major success factor in our corporate key
strategic initiative for growth in the high speed optical receiver
markets.”
Following the execution of the VMI agreement, Picometrix
received a new order for the supply of coherent receivers for 100G
optical transport network equipment. The order totaled
approximately $1.4 million to be delivered through June 2017.
The company expects to supply both its first generation CR-100D
product and its next generation (Gen 2) CR-100F coherent receivers
under the VMI agreement. The CR-100F is the company’s newest
generation 100G coherent receiver and is compliant with the Optical
Internetworking Forum standard "Implementation Agreement for
Integrated Dual Polarization Micro-Intradyne Coherent Receivers”.
The CR-100F is approximately one-fourth the size of the first
generation CR-100D, with additional features including signal
detect and a variable optical attenuator. The CR-100F will be
deployed in both the long-haul and metro applications to support
the continued increase in global bandwidth demand.
Picometrix and Luna will display their product lines later this
month at the Optical Networking and Communication Conference and
Exhibition (“OFC 2017”) http://www.ofcconference.org/en-us/home/
held in Los Angeles, CA March 21 to 23 in booth #2511.
About Luna
Luna Innovations Incorporated (www.lunainc.com) is a leader in
optical technology, providing unique capabilities in high speed
optoelectronics and high performance fiber optic test products for
the telecommunications industry and distributed fiber optic sensing
for the aerospace and automotive industries. Luna is organized into
two business segments which work closely together to turn ideas
into products: a Technology Development segment and a Products and
Licensing segment. Luna’s business model is designed to
accelerate the process of bringing new and innovative technologies
to market.
Forward-Looking
Statements
The statements in this release that are not historical facts
constitute “forward-looking statements” made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of
1995 that involve risks and uncertainties. These statements include
the company's expectations regarding Luna’s future financial
performance, operating results and future growth of Luna’s
business, the future integration of Picometrix into its customer’s
supply chain and manufacturing processes, the company’s growth in
the high speed optical receiver markets, the extent and timing of
future revenue from the new order of coherent receivers, and the
company’s future deployment of coherent receivers. Management
cautions the reader that these forward-looking statements are only
predictions and are subject to a number of both known and unknown
risks and uncertainties, and actual results, performance, and/or
achievements of Luna may differ materially from the future results,
performance, and/or achievements expressed or implied by these
forward-looking statements as a result of a number of factors.
These factors include, without limitation, failure of demand for
Luna’s products and services to meet expectations, technological
challenges and those risks and uncertainties set forth in Luna’s
periodic reports and other filings with the Securities and Exchange
Commission (“SEC”). Such filings are available on the SEC’s website
at www.sec.gov and on Luna’s website at www.lunainc.com. The
statements made in this release are based on information available
to Luna as of the date of this release and Luna undertakes no
obligation to update any of the forward-looking statements after
the date of this release.
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version on businesswire.com: http://www.businesswire.com/news/home/20170313006306/en/
Investor Contact:Luna Innovations IncorporatedDale
Messick, CFO1-540-769-8400
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