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Lumentum: Fiscal 2Q Earnings Snapshot

MILPITAS, Calif. (AP) _ Lumentum Holdings Inc. (LITE) on Tuesday reported fiscal second-quarter earnings of $16.3 million.

The Milpitas, California-based company said it had net income of 8 cents per share. Earnings, adjusted for one-time gains and costs, were $1.15 per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.

The optical networking products maker posted revenue of $373.7 million in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $356.4 million.

For the current quarter ending in April, Lumentum expects its per-share earnings to range from 76 cents to 94 cents.

The company said it expects revenue in the range of $420 million to $440 million for the fiscal third quarter.

Lumentum shares have risen 18 percent since the beginning of the year. The stock has increased 11 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LITE at https://www.zacks.com/ap/LITE