Lumentum returns to 'solid growth'
Ramp in 3D sensing business expected to accelerate in the second quarter
Lumentum has reported results for Q1 2018 (ended September 30, 2017). Net revenue for Q1 was $243.2 million, with GAAP net income of $7.1 million, or $0.11 per diluted share. Net revenue for Q4 2017 was $222.7 million, with GAAP net loss of $(54.9) million, or $(0.90) per diluted share. Net revenue for Q1 2017 was $258.1 million, with GAAP net loss of $(3.4) million, or $(0.06) per diluted share.
Non-GAAP net income for Q1 was $27.8 million or $0.43 per diluted share. Non-GAAP net income for Q4 2017 was $25.0 million, or $0.39 per diluted share. Non-GAAP net income for Q1 2017 was $30.7 million, or $0.49 per diluted share. The company held $532.5 million in total cash and short-term investments at the end of Q1.
"Despite first quarter headwinds in the telecom and datacom markets, we returned to solid growth driven by a ramp in our 3D sensing business, which will accelerate significantly in the second quarter," said Alan Lowe, President and CEO. "We continue to make good progress on our strategic initiatives, and our pipeline of new products and design wins position us well in the markets in which we participate."
Business Outlook
The company expects the following for the fiscal second quarter 2018: Net Revenue to be in the range of $345 million to $375 million; non-GAAP Operating margin of 21.0 percent to 23.0 percent; non-GAAP diluted earnings per share of $1.05 to $1.25.
