Lumentum: Fiscal 4Q Earnings Snapshot

Associated Press
Updated ·1 min read

MILPITAS, Calif. (AP) _ Lumentum Holdings Inc. (LITE) on Tuesday reported a loss of $4.6 million in its fiscal fourth quarter.

The Milpitas, California-based company said it had a loss of 6 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, came to $1.18 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.

The optical networking products maker posted revenue of $368.1 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $349.9 million.

For the year, the company reported net income of $135.5 million, or $1.75 per share, swinging to a profit in the period. Revenue was reported as $1.68 billion.

For the current quarter ending in October, Lumentum expects its per-share earnings to range from $1.40 to $1.55.

The company said it expects revenue in the range of $430 million to $455 million for the fiscal first quarter.

Lumentum shares have risen 11% since the beginning of the year. The stock has increased 45% in the last 12 months.

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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