Press release
Lumentum Announces Fiscal First Quarter 2022 Financial Results
-- Net revenue of $448.4 million -- GAAP gross margin of 51.8%; Non-GAAP gross margin of 55.0% -- GAAP operating margin of 25.8%; Non-GAAP operating margin of
About this update from Lumentum Holdings Inc.
[{"type":"text","content":"-- Net revenue of $448.4 million\n -- GAAP gross margin of 51.8%; Non-GAAP gross margin of 55.0%\n -- GAAP operating margin of 25.8%; Non-GAAP operating margin of 35.4%\n -- GAAP diluted net income per share of $1.08; Non-GAAP diluted net income per share of $1.79\n\n\nSAN JOSE, Calif., Nov. 4, 2021 /PRNewswire/ -- Lumentum Holdings Inc. (\"Lumentum\" or the \"Company\") today reported results for its fiscal first quarter ended October 2, 2021.\n\"Driven by strong demand, first quarter financial results were above our guidance ranges across all metrics,\" said Alan Lowe, President and CEO. \"Our Industrial and Consumer product lines and our Commercial Lasers segment revenues were ahead of expectations which more than offset the impact of semiconductor shortages in our Telecom and Datacom product lines.\"\n\"Looking to the second quarter, demand continues to be strong, particularly in Telecom and Datacom as well as Commercial Lasers, where we expect revenue to grow sequentially. While we are increasing our supply of semiconductors, we expect the gap between demand and supply for our products in the second quarter will be larger than it was in the first quarter, and we have incorporated this in our guidance,\" added Mr. Lowe.\nFiscal First Quarter Highlights:\nNet revenue for the fiscal first quarter of 2022 was $448.4 million, with GAAP net income of $81.5 million, or $1.08 per diluted share. Net revenue for the fiscal fourth quarter of 2021 was $392.1 million, with GAAP net income of $21.5 million, or $0.28 per diluted share. Net 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. \nNon-GAAP net income for the fiscal first quarter of 2022 was $135.1 million, or $1.79 per diluted share. Non-GAAP net income for the fiscal fourth quarter of 2021 was $81.9 million, or $1.06 per diluted share. Non-GAAP net income for the fiscal first quarter of 2021 was $131.2 million, or $1.68 per diluted share. \nThe Company held $1,884.6 million in total cash, cash equivalents, and short-term investments at the end of the fiscal first quarter of 2022, down $61.4 million from the fiscal fourth quarter of 2021.\nFinancial Overview – Fiscal First Quarter Ended October 2, 2021\nGAAP Results ($ in millions)\nQ1\nQ4\nQ1\nChange\nFY 2022\nFY 2021\nFY 2021\nQ/Q\nY/Y\nNet reven...