Press release
Lumentum Announces Fiscal Fourth Quarter And Full Year 2021 Results
- Fiscal Fourth Quarter Highlights: -- Net revenue of $392.1 million -- GAAP operating margin of 11.7%; Non-GAAP operating margin of 24.6% -- GAAP diluted net
About this update from Lumentum Holdings Inc.
[{"type":"text","content":"- Fiscal Fourth Quarter Highlights:\n -- Net revenue of $392.1 million\n -- GAAP operating margin of 11.7%; Non-GAAP operating margin of 24.6%\n -- GAAP diluted net income per share of $0.28; Non-GAAP diluted net income per share of $1.15 using the \"prior method\" or $1.06 using the \"new method\" of calculating our Non-GAAP tax provision (1)\n - Fiscal Year 2021 Highlights:\n -- Record net revenue of $1.74 billion\n -- GAAP operating margin of 30.2%; Non-GAAP operating margin of 30.8%\n -- GAAP diluted net income per share of $5.07; Non-GAAP diluted net income per share of $6.31 using the \"prior method\" or $5.84 using the \"new method\" of calculating our Non-GAAP tax provision (1)\n\n\nSAN JOSE, Calif., Aug. 18, 2021 /PRNewswire/ -- Lumentum Holdings Inc. (\"Lumentum\" or the \"Company\") today reported results for its fiscal fourth quarter and full year ended July 3, 2021.\n\"The fourth quarter capped off a record fiscal 2021 with strong demand for our products that resulted in a book to bill of 1.2,\" said Alan Lowe, President and CEO. \"While demand continues to grow into the first quarter, shortages of critical semiconductor components are negatively impacting our first quarter revenue outlook by more than $30 million.\"\nMr. Lowe added, \"We believe, however, the continuing shift in our demand mix towards differentiated products that enable next generation customer solutions is a leading indicator for growth over the coming years.\" \n\"By all financial measures fiscal 2021 was our best year yet, with record revenue, earnings per share, and margins, the latter achieving our previously announced target model,\" said Wajid Ali, Executive Vice-President and CFO. \"Due to confidence in our long-term financial performance, during the fourth quarter we repurchased 3.1 million shares, or 4% of our shares outstanding, using $241 million of our current $700 million share buyback program.\"\n_____________________________(1) In order to give a more meaningful perspective of our tax burden over a longer-term period, and in accordance with the SEC Non-GAAP Financial Measures Compliance and Disclosure Interpretations, beginning in our fiscal fourth quarter, Lumentum is changing its method of calculating its non-GAAP income tax provision. For this quarter only, Lumentum will provide its non-GAAP tax provisions using both the prior me...