Juniper Networks 13% of Plexus Revenue in 4th Quarter
Juniper Networks Inc. (JNPR), which was its biggest customer.
The electronic components supplier's shares were halted ahead of the news.
The company said it was informed of the disengagement on Monday and said the timing of the transition of the Juniper business from Plexus is not yet unknown, though it is expected to occur by the end of the current fiscal year. Plexus provides mechanical and electronic products to makers of everything from industrial equipment to electronics, leaving it indirectly vulnerable to broader weakness in consumer demand.
Juniper comprised 13% of Plexus's revenue in its fiscal fourth quarter and was its only customer representing 10% or more of revenue for the period.