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Lumentum: Fiscal 3Q Earnings Snapshot

MILPITAS, Calif. (AP) _ Lumentum Holdings Inc. (LITE) on Tuesday reported a fiscal third-quarter loss of $74.3 million, after reporting a profit in the same period a year earlier.

The Milpitas, California-based company said it had a loss of 98 cents per share. Earnings, adjusted for one-time gains and costs, were 91 cents per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The optical networking products maker posted revenue of $432.9 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $430.5 million.

For the current quarter ending in June, Lumentum expects its per-share earnings to range from 85 cents to $1.

The company said it expects revenue in the range of $405 million to $425 million for the fiscal fourth quarter.

Lumentum shares have increased 46% since the beginning of the year. The stock has increased 4% 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