Press release
Lumentum Announces Fiscal First Quarter 2021 Financial Results
- Net revenue of $452.4 million - GAAP gross margin of 45.5%; Non-GAAP gross margin of 52.0% - GAAP operating margin of 21.9%; Non-GAAP operating margin of
About this update from Lumentum Holdings Inc.
[{"type":"text","content":"- Net revenue of $452.4 million\n - GAAP gross margin of 45.5%; Non-GAAP gross margin of 52.0%\n - GAAP operating margin of 21.9%; Non-GAAP operating margin of 33.7%\n - GAAP diluted net income per share of $0.86; Non-GAAP diluted net income per share of $1.78\n\n\nSAN JOSE, Calif., Nov. 2, 2020 /PRNewswire/ -- Lumentum Holdings Inc. (\"Lumentum\" or the \"Company\") today reported results for its fiscal first quarter of 2021 ended September 26, 2020.\nNet revenue for the fiscal first quarter of 2021 was $452.4 million, with GAAP net income of $67.1 million, or $0.86 per diluted share. Net revenue for the fiscal fourth quarter of 2020 was $368.1 million, with GAAP net loss of $(4.6) million, or $(0.06) per diluted share. Net revenue for the fiscal first quarter of 2020 was $449.9 million, with GAAP net income of $47.6 million, or $0.61 per diluted share.\nNon-GAAP net income for the fiscal first quarter of 2021 was $139.2 million, or $1.78 per diluted share. Non-GAAP net income for the fiscal fourth quarter of 2020 was $91.7 million, or $1.18 per diluted share. Non-GAAP net income for the fiscal first quarter of 2020 was $111.4 million, or $1.44 per diluted share.\nThe Company held $1,610.7 million in total cash and short-term investments at the end of the fiscal first quarter of 2021, up $56.9 million compared to the fiscal fourth quarter of 2020.\n\"We started fiscal 2021 on a strong note, achieving record non-GAAP gross margin, operating margin and earnings per share in the first quarter. We expect the strong momentum to continue into the second quarter,\" said Alan Lowe, President and CEO. \"Long-term market trends are very favorable, as the world is increasingly shifting to digital and virtual approaches to work, education, and life, which drives increasing demand for our differentiated products and technologies.\"\nFinancial Overview – Fiscal First Quarter Ended September 26, 2020 \nGAAP Results ($ in millions)\nQ1\nQ4\nQ1\nChange\nFY 2021\nFY 2020\nFY 2020\nQ/Q\nY/Y\nNet revenue\n$452.4\n$368.1\n$449.9\n22.9%\n0.6%\nGross margin\n45.5%\n36.9%\n37.3%\n860bps\n820bps\nOperating margin\n21.9%\n7.3%\n13.3%\n1,460bps\n860bps\nNon-GAAP Results ($ in millions)\nQ1\nQ4\nQ1\nChange\nFY 2021\nFY 2020\nFY 2020\nQ/Q\nY/Y\nNet revenue\n$452.4\n$368.1\n$449.9\n22.9%\n0.6%\nGross margin\n52.0%\n47.2%\n45.8%\n480bps\n620bps\nOperating ma...