Press release
Lumentum Announces Fiscal Second Quarter 2021 Financial Results
- Net revenue of $478.8 million - GAAP gross margin of 48.0%; Non-GAAP gross margin of 53.4% - GAAP operating margin of 24.1%; Non-GAAP operating margin of
About this update from Lumentum Holdings Inc.
[{"type":"text","content":"- Net revenue of $478.8 million\n - GAAP gross margin of 48.0%; Non-GAAP gross margin of 53.4%\n - GAAP operating margin of 24.1%; Non-GAAP operating margin of 35.5%\n - GAAP diluted net income per share of $1.06; Non-GAAP diluted net income per share of $1.99\n\n\nSAN JOSE, Calif., Feb. 2, 2021 /PRNewswire/ -- Lumentum Holdings Inc. (\"Lumentum\" or the \"Company\") today reported results for its fiscal second quarter of 2021 ended December 26, 2020.\nNet revenue for the fiscal second quarter of 2021 was $478.8 million, with GAAP net income of $83.2 million, or $1.06 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. Net 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. \nNon-GAAP net income for the fiscal second quarter of 2021 was $155.7 million, or $1.99 per diluted share. Non-GAAP net income for the fiscal first quarter of 2021 was $139.2 million, or $1.78 per diluted share. Non-GAAP net income for the fiscal second quarter of 2020 was $119.4 million, or $1.53 per diluted share.\nThe Company held $1,700.3 million in total cash, cash equivalents, and short-term investments at the end of the fiscal second quarter of 2021, up $89.6 million compared to the end of the fiscal first quarter of 2021.\n\"Combining the positive momentum from the prior quarter, with strengthened demand in Telecom and Lasers, we achieved new record revenue and non-GAAP gross margin, operating margin, and earnings per share in the second quarter,\" said Alan Lowe, President and CEO. \"We are well positioned to grow revenue and earnings into the future. We have developed a broad portfolio of new products that address upcoming growth catalysts, completed our exit of low margin product lines that would have been a headwind to future growth, and lowered our fixed costs to enable stronger operating leverage and profitability as we grow.\"\n\"We recently announced the Coherent acquisition, which we expect to create significant shareholder value. The transaction will broaden and diversify the customers and markets in our revenue mix and aligns us with important trends in microelectronics for next generation consumer devices, 5G and other communications systems, the transition ...