Avanex Corp. announced decrease of its second-quarter outlook because of premature termination of an exclusive distribution agreement by France 's 3S Photonics.
The company said that it had filed an arbitration complaint against 3S Photonics
Now Avanex predicts revenue of $51 million to $53 million – about 5 millions dollars lower then earlier.
Avanex supplies components that increase the speed and capacity of fiber-optic communications networks.
On January 15, it was reported that the Russian government began to develop sanctions against several officials at the World Anti-Doping Agency (WADA)