Lumentum announces Q4 And Full Year Results
2017 shows record revenues over $1 billion, up 11 percent from fiscal year 2016
Lumentum, a maker of photonic components, modules, and systems, has reported results for Q4 and full year ended July 1, 2017 with net revenue for Q4 2017 of $222.7 million, with GAAP net loss of $(54.9) million, or $(0.90) per diluted share.
Net revenue for Q3 2017 was $255.8 million, with GAAP net loss of $(56.0) million, or $(0.92) per diluted share. Net revenue for Q4 2016 was $241.7 million, with GAAP net income of $14.3 million, or $0.23 per diluted share.
"In our second fiscal year as a stand-alone public company, we exceeded the $1 billion revenue mark and increased non-GAAP net income by more than 50 percent year-over-year." said Alan Lowe, president and CEO.
"We continue to make excellent progress on our strategic initiatives. Revenue from our 100G QSFP28 transceivers nearly doubled sequentially in the fourth quarter. We began ramping our 3D sensing products to meet our strong customer demand and expect volumes to increase monthly through the end of the calendar year."
Non-GAAP net income for Q4 2017 was $25.0 million or $0.39 per diluted share. Non-GAAP net income for fiscal third quarter 2017 was $30.8 million, or $0.49 per diluted share. Non-GAAP net income for Q4 2016 was $25.4 million, or $0.41 per diluted share. The Company held $555.3 million in total cash and short-term investments at the end of Q4 2017.
Net revenue for fiscal year 2017 was around $1 billion, with GAAP net loss of $(102.5) million, or $(1.69) per diluted share. Net revenue for fiscal year 2016 was $903.0 million, with GAAP net income of $9.3 million, or $0.15 per diluted share.
Non-GAAP net income for fiscal year 2017 was $122.4 million or $1.94 per diluted share. Non-GAAP net income for fiscal year 2016 was $78.9 million, or $1.29 per diluted share.
Business Outlook
For the fiscal first quarter 2018, the company expects net revenue to be in the range of $245 million to $265 million, non-GAAP operating margin to be 13.0 percent to 15.0 percent, and non-GAAP diluted earnings per share to be $0.50 to $0.60 per share, based on approximately 64.2 million shares outstanding on a fully diluted basis.
