Lumentum posts quarterly revenue of $230.4 million
Lumentum, a spin-off from JDSU, focused on lasers and photonic products, has reported net revenue of $230.4 million results for fiscal Q3 2016 (ended April 2, 2016) with a GAAP net loss of $(7.6) million, or $(0.13) per share.
In comparison, net revenue for the previous quarter was $218.3 million, with GAAP net income of $2.8 million, or $0.05 per share. Net revenue Q3 2015 was $198.7 million, with GAAP net income of $12.2 million, or $0.21 per share.
Non-GAAP net income for the Q3 2016 was up to $19.7 million or $0.32 per share. Non-GAAP net income was $19.1 million, or $0.31 per share compared to $6.2 million, or $0.11 per share Q3 2015. The company held $157.2 million in total cash at the end of the fiscal third quarter 2016, which decreased by $4.7 million sequentially, and the company remains debt-free.
"We again executed on our plan in the fiscal third quarter and delivered record revenues that grew 16 percent over the same period last year," said Alan Lowe, president and CEO. "Datacom revenue grew 30 percent sequentially, achieving record revenues, driven by a more than 140 percent sequential increase in 100G related revenues."
He added: "TrueFlex ROADM revenue grew approximately 30 percent sequentially and more than tripled from last year. Bookings were robust during the quarter, with a book-to-bill ratio greater than one, as the North America metro deployment is poised to ramp, hyperscale datacentres ready themselves for the shift to 100G, and China demand remains strong."
Business Outlook
For the fiscal fourth quarter 2016, the company expects net revenue to be in the range of $232 million to $242 million, non-GAAP operating margin to be 8.5 percent to 10.0 percent, and non-GAAP earnings per share to be $0.32 to $0.38 per share, based on approximately 62 million shares on a fully diluted basis. These estimates are based upon a thirteen week fiscal quarter compared with fourteen weeks for the fiscal third quarter 2016.
