Press release
Lumentum Announces Fiscal Second Quarter 2020 Financial Results
- Net revenue of $457.8 million - GAAP operating margin of 16.3%; Non-GAAP operating margin of 28.8% - GAAP diluted net income per share of $0.63; Non-GAAP
About this update from Lumentum Holdings Inc.
[{"type":"text","content":"- Net revenue of $457.8 million\n - GAAP operating margin of 16.3%; Non-GAAP operating margin of 28.8%\n - GAAP diluted net income per share of $0.63; Non-GAAP diluted net income per share of $1.53\n\n\nSAN JOSE, Calif., Feb. 4, 2020 /PRNewswire/ -- Lumentum Holdings Inc. (\"Lumentum\" or the \"Company\") today reported results for its fiscal second quarter of 2020 ended December 28, 2019. \nNet revenue for the fiscal second quarter of 2020 was $457.8 million, with GAAP net income of $49.1 million, or $0.63 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. Net revenue for the fiscal second quarter of 2019 was $373.7 million, with GAAP net income attributable to common stockholders of $5.4 million, or $0.08 per diluted share.\nNon-GAAP net income for the fiscal second quarter of 2020 was $119.4 million, or $1.53 per diluted share. Non-GAAP net income for the fiscal first quarter of 2020 was $111.4 million, or $1.44 per diluted share. Non-GAAP net income for the fiscal second quarter of 2019 was $78.0 million, or $1.15 per diluted share. \nThe Company held $1,315.6 million in total cash and short-term investments at the end of the fiscal second quarter of 2020. \n\"The themes of the prior quarter - strong customer demand for our differentiated products, an improving financial model due to increasing levels of new and innovative products and increasing scale and acquisition synergies - drove new record revenue, gross margin and operating margin in the second quarter,\" said Alan Lowe, President and CEO. \"Adding to these themes in calendar year 2020, we are seeing telecom transport demand strengthening, we are ramping our DCO modules now and expect 400G and above products to ramp later in the year, and we expect a strong expansion of the market for world-facing 3D sensing lasers.\" \nFinancial Overview – Fiscal Second Quarter Ended December 28, 2019\nGAAP Results ($ in millions)\nQ2\nQ1\nQ2\nChange\nFY 2020\nFY 2020\nFY 2019\nQ/Q\nY/Y\nNet revenue\n$457.8\n$449.9\n$373.7\n1.8%\n22.5%\nGross margin\n41.3%\n37.3%\n33.4%\n400bps\n790bps\nOperating margin\n16.3%\n13.3%\n3.1%\n300bps\n1,320bps\nNon-GAAP Results ($ in millions)\nQ2\nQ1\nQ2\nChange\nFY 2020\nFY 2020\nFY 2019\nQ/Q\nY/Y\nNet revenue\n$457.8\n$449.9\n$373.7\n1.8%\n22.5%\n...