From CC Transcript, includes the main issue regarding todays drop, Jamok referred to the "until it's done ...".  Namely a customer that was ordering the Transmode (which INFN acquired recently? Going by memory here) equipment which has stopped ordering it. Clearly the market is assuming this customer will not return, I will go on a limb and believe the INFN story that the customer.  Still, this customer is important as it is one of the three 10% customers. So, I would say that this year's revenue could go down to about $1B as I estimated in a previous post, and that assumes this customer simply does not order any more for the rest of the year.

The CC reference to this customer:

""Thomas J. Fallon - Chief Executive Officer & Director

Yes. So, why do I have confidence in it coming back? It's been a long-term customer that had a very good relationship previously with Transmode and with us. We've talked to them about their business and why it has slowed down, and there's a specific opportunity that they've won or are close to winning that when that happens their intention is to reinstigate significant purchases with us.

Until it's done, it's not done, but I have every belief that what they're telling me is true. I have no reason not to believe it. And then timing becomes a question. Is it a Q2 or a Q3? We're obviously not counting on it being in Q2.believe it. And then timing becomes a question. Is it a Q2 or a Q3? We're obviously not counting on it being in Q2.""