Press release
Lumentum Announces Fiscal Third Quarter 2022 Financial Results
Net revenue of $395.4 millionGAAP gross margin of 42.3%; Non-GAAP gross margin of 49.5%GAAP operating margin of 11.8%; Non-GAAP operating margin of 26.5%GAAP
About this update from Lumentum Holdings Inc.
[{"type":"text","content":"Net revenue of $395.4 millionGAAP gross margin of 42.3%; Non-GAAP gross margin of 49.5%GAAP operating margin of 11.8%; Non-GAAP operating margin of 26.5%GAAP diluted net income per share of $0.35; Non-GAAP diluted net income per share of $1.19SAN JOSE, Calif., May 4, 2022 /PRNewswire/ -- Lumentum Holdings Inc. (\"Lumentum\" or the \"Company\") today reported results for its fiscal third quarter ended April 2, 2022.\n\"Our results were at the high end of our guidance on all metrics in the third quarter due to solid execution on a global basis,\" said Alan Lowe, President and CEO. \"Demand for our products continues to accelerate, and we now expect demand to outpace component supplies by more than $100 million in the fourth quarter. Our fourth quarter revenue is expected to increase from the third quarter, primarily driven by Telecom product shipments.\"\nMr. Lowe added, \"I am highly optimistic about our outlook and believe market inflections beneficial to Lumentum in our addressable markets will drive double-digit revenue growth in fiscal 2023 and beyond.\"\nFiscal Third Quarter Highlights:\nNet revenue for the fiscal third quarter of 2022 was $395.4 million, with GAAP net income of $26.0 million, or $0.35 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. Net revenue for the fiscal third quarter of 2021 was $419.5 million, with GAAP net income of $225.5 million, or $2.85 per diluted share. \nNon-GAAP net income for the fiscal third quarter of 2022 was $88.9 million, or $1.19 per diluted share. Non-GAAP net income for the fiscal second quarter of 2022 was $120.2 million, or $1.60 per diluted share. Non-GAAP net income for the fiscal third quarter of 2021 was $99.7 million, or $1.26 per diluted share.\nThe Company held $2,564.1 million in total cash, cash equivalents, and short-term investments at the end of the fiscal third quarter of 2022, up $541.7 million from the end of the fiscal second quarter of 2022. In March 2022, we issued $861.0 million in aggregate principal amount of 0.50% Convertible Notes due in 2028 (\"the 2028 Notes\"). The net proceeds from the sale of the 2028 Notes were $854.1 million, after deducting $6.9 million in issuance costs. Concurrent with the issuance of the 2028 Notes, we used $200.0 million of ...