Free Research Report as Lumentum Holdings' Revenue Jumped 16.8%; Non-GAAP EPS Soared 59%
Stock Monitor: Aviat Networks Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 4, 2018 / If you want access to our free earnings report on Lumentum Holdings Inc. (NASDAQ: LITE), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=LITE. Lumentum reported its third quarter fiscal 2018 operating and financial results on May 03, 2018. The optical networking products maker outperformed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:
www.active-investors.com/registration-sg
Active-Investors.com is currently working on the research report for Aviat Networks, Inc. (NASDAQ: AVNW), which also belongs to the Technology sector as the Company Lumentum Holdings. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/?symbol=AVNW
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Lumentum Holdings most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=LITE
Earnings Highlights and Summary
Lumentum's net revenue for the fiscal third quarter of 2018 was $298.8 million, up 16.8% compared to net revenue was $255.8 million for Q3 FY17. The Company's reported numbers beat analysts' estimates of $292.5 million.
During Q3 FY18, Lumentum's GAAP gross margin was 32.5% and included a $3.5 million inventory reserve related to ZTE compared to gross margin of 32.1% in Q3 FY17. The Company's revenue from ZTE during the last 12 months was less than 0.5% of total revenue. Lumentum's reported quarter non-GAAP gross margin was 36.3%, which increased 1.9 percentage points compared to the year ago same period.
For Q3 FY18, Lumentum's GAAP operating margin was 8.5% compared to 5.3% in Q3 FY17. The Company's non-GAAP operating margin was 16.5% for the reported quarter versus 12.6% in the prior year's comparable quarter.
Lumentum reported GAAP net income of $2.7 million, or $0.04 per diluted share, in Q3 FY18 compared to GAAP net loss of $56.0 million, or $0.92 per diluted share. The Company's non-GAAP net income for the reported quarter was $50.6 million, or $0.78 per diluted share, versus non-GAAP net income for the year earlier corresponding quarter was $30.8 million, or $0.49 per diluted share. Lumentum's earnings surpassed Wall Street's estimates of $0.71 per share.
Lumentum Holdings' Segment Results
During Q3 FY18, the Optical Communications segment's revenue including 3D sensing was $246.3 million, reflecting an increase of 14% compared with the year ago same period. Telecom's revenue was at $122.6 million, decreasing 25% on a y-o-y basis.
For Q3 FY18, the industry-leading ROADMs segment's increased 27% on a q-o-q basis. Datacom revenue was $36.3 million, declined 7% on a y-o-y basis. The Company's consumer and industrial revenue at $87.4 million increased more than 600% on a y-o-y basis, with the year earlier quarter due to 3D sensing revenue volume.
The Commercial lasers segment's revenue was a record high at $52.5 million and increased 32% on a y-o-y basis. The increase in volume was from both micromachining and kilowatt laser products.
Cash Matters
As of March 31, 2018, Lumentum held $692.8 million in total cash and short-term investments. During the last two quarters, the Company has generated over $160 million of cash representing 22.8% of revenue. Lumentum's capital equipment additions were approximately $17 million in the reported quarter.
Outlook
Lumentum is projecting net revenue for the fourth quarter to be in the range of $275 million to $300 million, with operating margin in the range of 14% to 16% and earnings per share to be in the band of $0.55 to $0.75.
Stock Performance Snapshot
June 01, 2018 - At Friday's closing bell, Lumentum's stock rose 4.34%, ending the trading session at $61.30.
Volume traded for the day: 1.63 million shares.
Stock performance in the last month – up 4.79%; previous six-month period – up 13.31%; past twelve-month period – up 4.70%; and year-to-date – up 25.36%
After last Friday's close, Lumentum's market cap was at $3.83 billion.
Price to Earnings (P/E) ratio was at 16.51.
The stock is part of the Technology sector, categorized under the Communication Equipment industry. This sector was up 1.8% at the end of the session.
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors
