Lumentum: Fiscal Q1 Earnings Snapshot
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Lumentum Holdings Inc. (LITE) on Wednesday reported a loss of $67.9 million in its fiscal first quarter.
On a per-share basis, the San Jose, California-based company said it had a loss of $1.02. Earnings, adjusted for one-time gains and costs, were 35 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The optical networking products maker posted revenue of $317.6 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $314 million.
For the current quarter ending in December, Lumentum expects its per-share earnings to range from 25 cents to 35 cents.
The company said it expects revenue in the range of $350 million to $380 million for the fiscal second quarter.
_____
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
