Picometrix® Division of Luna Continues 100G Telecom Success
Enhances Relationship with Key Customer
ROANOKE, Va.--(BUSINESS WIRE)--Mar. 13, 2017--
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, CAMarch 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170313006306/en/
Source: Luna Innovations Incorporated
Investor Contact:
Luna Innovations Incorporated
Dale
Messick, CFO
1-540-769-8400