Press release
Lumentum Announces Fiscal First Quarter 2023 Financial Results
Net revenue of $506.8 millionGAAP gross margin of 39.7%; Non-GAAP gross margin of 48.2%GAAP operating margin of 2.7%; Non-GAAP operating margin of 27.1%GAAP
About this update from Lumentum Holdings Inc.
[{"type":"text","content":"Net revenue of $506.8 millionGAAP gross margin of 39.7%; Non-GAAP gross margin of 48.2%GAAP operating margin of 2.7%; Non-GAAP operating margin of 27.1%GAAP diluted net loss per share of $0.01; Non-GAAP diluted net income per share of $1.69SAN JOSE, Calif., Nov. 8, 2022 /PRNewswire/ -- Lumentum Holdings Inc. (\"Lumentum\" or the \"Company\") today reported results for its fiscal first quarter ended October 1, 2022.\n\"Solid execution drove first quarter revenue above the midpoint of our guidance, earnings per share to the high end of our range, and operating margin above guidance,\" said Alan Lowe, President and CEO. \"Demand is robust from our Telecom and Industrial Lasers customers. Looking forward, and consistent with industry trends, supply of specific IC components has not materialized as quickly as expected, and we now expect these shortages to continue into our fiscal 2024. Also, our near-term Datacom and 3D sensing outlook is lower than our prior projections.\"\nMr. Lowe added, \"The closing of our two announced acquisitions in the first quarter position us to accelerate long-term technology trends in advanced networking hardware and adjacent markets, and expand our share in the growing telecom infrastructure market. Since closing these acquisitions, we have even higher confidence in accomplishing our goals. We look forward to sharing more on our progress in the coming quarters.\"\nFiscal First Quarter Highlights:\nNet revenue for the fiscal first quarter of 2023 was $506.8 million, with GAAP net loss of $0.4 million, or $0.01 loss per diluted share. Net revenue for the fiscal fourth quarter of 2022 was $422.1 million, with GAAP net income of $34.7 million, or $0.49 per diluted share. Net 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. \nNon-GAAP net income for the fiscal first quarter of 2023 was $119.2 million, or $1.69 per diluted share. Non-GAAP net income for fiscal fourth quarter of 2022 was $105.0 million, or $1.47 per diluted share. Non-GAAP net income for the fiscal first quarter of 2022 was $135.1 million, or $1.79 per diluted share. \nThe Company held $1,624.9 million in total cash, cash equivalents, and short-term investments at the end of the fiscal first quarter of 2023, down $924.1 million from the end of the fiscal fourth ...