Press release
Lumentum Announces Fiscal Fourth Quarter and Full Year 2023 Results
Fiscal Fourth Quarter Highlights: Net revenue of $370.8 million GAAP operating loss of 15.1%; Non-GAAP operating margin of 9.1% GAAP diluted net loss per
About this update from Lumentum Holdings Inc.
[{"type":"text","content":"\nFiscal Fourth Quarter Highlights:\n\n\n\nNet revenue of $370.8 million\n\n\n\nGAAP operating loss of 15.1%; Non-GAAP operating margin of 9.1%\n\n\n\nGAAP diluted net loss per share of $0.88; Non-GAAP diluted net income per share of $0.59\n\n\n\nFiscal Year 2023 Highlights:\n\n\n\nNet revenue of $1.77 billion\n\n\n\nGAAP operating loss of 6.5%; Non-GAAP operating margin of 19.2%\n\n\n\nGAAP diluted net loss per share of $1.93; Non-GAAP diluted net income per share of $4.56\n\n\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nLumentum Holdings Inc. (“Lumentum” or the “Company”) today reported results for its fiscal fourth quarter and full year ended July 1, 2023.\n\n\n“With generational upgrades in the backbone of the network and increased customer activity for AI in the data center, we expect year-over-year Telecom and Datacom growth in calendar 2024,” said Alan Lowe, President and CEO. “Fourth quarter revenue and EPS results were above the midpoints of our guidance. We believe that the current customer inventory correction cycle will continue through the balance of the calendar year, and therefore, our shipments will be below end-market demand. During this transition period, we are delivering as planned on our product roadmaps and are tracking ahead of our previously announced synergy plans.”\n\n\nFiscal Fourth Quarter Highlights:\n\n\nNet revenue for the fiscal fourth quarter of 2023 was $370.8 million, with GAAP net loss of $60.2 million, or $0.88 per diluted share. Net revenue for the fiscal third quarter of 2023 was $383.4 million, with GAAP net loss of $39.3 million, or $0.57 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.\n\n\nNon-GAAP net income for fiscal fourth quarter of 2023 was $40.2 million, or $0.59 per diluted share. Non-GAAP net income for fiscal third quarter of 2023 was $51.8 million, or $0.75 per diluted share. Non-GAAP net income for the fiscal fourth quarter of 2022 was $105.0 million, or $1.47 per diluted share.\n\n\nThe Company held $2,013.6 million in total cash, cash equivalents, and short-term investments at the end of the fiscal fourth quarter of 2023, an increase of $346.4 million from the third quarter of 2023. In June 2023, we issued $603.7 million in aggregate principal amount of convertible notes ...