Wavesplitter files S-1:
freeedgar.com
We develop, manufacture and market high performance optical components and modules based on fused fiber and planar lightguide circuit technologies for use in next generation optical communication networks. Our products are designed to enable optical systems manufacturers and service providers to increase the capacity and reliability of optical networks, extend the reach of optical signals in core networks and build flexible, scalable and cost effective metropolitan area networks.
We sell our products to optical networking system and subsystem manufacturers that produce products such as optical amplifiers and dense wavelength division
multiplexing systems for the optical networking market. We are currently shipping products in volume to Corning and Corvis and are delivering pre-production or evaluation products to Alcatel, Ciena, Cisco, Furukawa, Harmonic,
Lucent Technologies, Marconi, Mitsubishi, NEC, SDL, Siemens and Sumitomo. . . .
Historically, a single customer has accounted for a significant portion of our revenue. Corvis Corporation accounted for 83% of our revenue in the six months ended June 30, 2000. We anticipate that our operating results will
continue to depend on sales to a relatively small number of customers for the foreseeable future. . . .
In the optical networking market, we face competition from companies such as Alcatel S.A., Avanex Corporation, Bookham Technology plc, Chorum Technologies Inc., DiCon Fiberoptics, Inc., ITF Optical Technologies, JDS Uniphase Corporation, Kymata Ltd., LightWave Microsystems, Lucent Technologies Inc., New Focus, Inc., Nortel Networks Corporation and Oplink Communications Inc., among others. . . .
We derive a substantial portion of our revenue from a limited number of products. Specifically, we derived 97% of our revenue in the six months ended June 30, 2000 from our WavePump product. We expect that the revenue from our
WavePump and WaveProcessor products will account for a substantial portion of our total revenue in future periods. Continued and widespread market acceptance of these products is critical to our future success. If sales of these products decline, or if our current products do not achieve market acceptance at the rate at which we expect, our operating results would be harmed.. . . |
