Press release
Lumentum Announces Fiscal Second Quarter 2023 Financial Results
Net revenue of $506.0 millionGAAP gross margin of 32.8%; Non-GAAP gross margin of 44.9%GAAP operating loss of 4.3%; Non-GAAP operating margin of 23.1%GAAP
About this update from Lumentum Holdings Inc.
[{"type":"text","content":"Net revenue of $506.0 millionGAAP gross margin of 32.8%; Non-GAAP gross margin of 44.9%GAAP operating loss of 4.3%; Non-GAAP operating margin of 23.1%GAAP diluted net loss per share of $0.46; Non-GAAP diluted net income per share of $1.52 SAN JOSE, Calif., Feb. 9, 2023 /PRNewswire/ -- Lumentum Holdings Inc. (\"Lumentum\" or the \"Company\") today reported results for its fiscal second quarter ended December 31, 2022.\n\"Our second quarter financial and operational performance was very strong, led by robust demand from our Telecom and Commercial Lasers customers. Non-GAAP operating margin and Non-GAAP earnings per share were both above the high end of our guidance range with revenue above the midpoint,\" said Alan Lowe, President and CEO. \"These results reflect structural improvement in the long-term operating costs of the company, as we continue to execute on our synergy plan.\"\nFiscal Second Quarter Highlights:\nNet revenue for the fiscal second quarter of 2023 was $506.0 million, with GAAP net loss of $31.7 million, or $0.46 loss per diluted share. Net 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 second quarter of 2022 was $446.7 million, with GAAP net income of $56.7 million, or $0.75 per diluted share. \nNon-GAAP net income for the fiscal second quarter of 2023 was $104.1 million, or $1.52 per diluted share. Non-GAAP net income for fiscal first quarter of 2023 was $119.2 million, or $1.69 per diluted share. Non-GAAP net income for the fiscal second quarter of 2022 was $120.2 million, or $1.60 per diluted share. \nThe Company held $1,680.4 million in total cash, cash equivalents, and short-term investments at the end of the fiscal second quarter of 2023, up $55.5 million from the end of the fiscal first quarter of 2023.\nFinancial Overview – Fiscal Second Quarter Ended December 31, 2022\nGAAP Results ($ in millions)\nQ2\nQ1\nQ2\nChange\nFY 2023\nFY 2023\nFY 2022\nQ/Q\nY/Y\nNet revenue\n$506.0\n$506.8\n$446.7\n(0.2) %\n13.3 %\nGross margin\n32.8 %\n39.7 %\n46.5 %\n(690)bps\n(1,370)bps\nOperating margin\n(4.3) %\n2.7 %\n19.1 %\n(700)bps\n(2,340)bps\nNon-GAAP Results ($ in millions)\nQ2\nQ1\nQ2\nChange\nFY 2023\nFY 2023\nFY 2022\nQ/Q\nY/Y\nNet revenue\n$506.0\n$506.8\n$446.7\n(0.2) %\n13.3 %\nGross margin\n44.9 %...