Lumentum Holdings Inc. · NASDAQ:LITE
Lumentum — Q1 FY2021 Earnings Presentation
11 slides from Lumentum's earnings presentation, Nov 2, 2020
Slide 1: Q1 FY21 Conference Call
Q1 FY21 Conference Call November 2, 2020
Slide 2: Forward Looking Statements and Financial Presentation
Forward Looking Statements and Financial Presentation This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include any anticipation or guidance as to future finan
Slide 3: Overview
Overview Long-term market trends are very strong ▪ The world is accelerating its shift toward digital and virtual approaches to work, education, healthcare, entertainment, social interaction, and commerce ▪ Lumentum is focused on enabling these durable long-term global trends – Enabling cloud datace
Slide 4: Q1FY21 Key Points
Q1FY21 Key Points ▪ Achieved record non-GAAP gross margin, operating margin, and EPS – Non-GAAP gross margin at 52.0% expanded 480 bps Q/Q and 620 bps Y/Y – Non-GAAP operating margin at 33.7% expanded 890 bps Q/Q and 640 bps Y/Y – Non-GAAP EPS at $1.78 expanded 51% Q/Q and 24% Y/Y – Driven by improv
Slide 5: Q1 FY21 Results (GAAP)
Q1 FY21 Results (GAAP) $ in millions Q1 FY21 Q4 FY20 Q1 FY20 except for EPS, % of revenue Revenue $452.4 $368.1 $449.9 Gross Margin 205.7 45.5% 135.7 36.9% 167.7 37.3% Operating Expenses 106.7 23.6% 108.7 29.5% 107.9 24.0% Operating Income 99.0 21.9% 27.0 7.3% 59.8 13.3% Diluted EPS $0.86 $(0.06) $0
Slide 6: Q1 FY21 Results (Non-GAAP)
Q1 FY21 Results (Non-GAAP) $ in millions Q1 FY21 Q4 FY20 Q1 FY20 except for EPS, % of revenue Revenue $452.4 $368.1 $449.9 Gross Margin 235.2 52.0% 173.9 47.2% 206.1 45.8% Operating Expenses 82.7 18.3% 82.5 22.4% 83.4 18.5% Operating Income 152.5 33.7% 91.4 24.8% 122.7 27.3% Diluted EPS $1.78 $1.18
Slide 7: Q1 FY21 Segment Results
Q1 FY21 Segment Results Q1 FY21 Q4 FY20 Q1 FY20 $ in millions Revenue $452.4 $368.1 $449.9 Optical Communications $ 428.5 330.3 416.1 Telecom & Datacom 261.3 256.4 248.1 Industrial & Consumer(1) 167.2 73.9 168.0 Commercial Lasers 23.9 37.8 33.8 Gross Margin (Non-GAAP) 52.0 % 47.2% 45.8% Optical Comm
Slide 8: Balance Sheet
Balance Sheet Selected Items Q1 FY21 Q4 FY20 $ in millions Cash and Short-term Investments $1,610.7 $1,553.8 Working Capital(1) 262.6 213.2 Property, Plant & Equipment, net 393.4 393.0 Total Assets 3,387.4 3,292.6 Total Liabilities 1,571.3 1,543.4 Shareholder’s Equity 1,816.1 1,749.2 (1) Working cap
Slide 9: Q2 FY21 Guidance (Non-GAAP)
Q2 FY21 Guidance (Non-GAAP) Guidance is based on our expectations as of today and will not be updated or confirmed as of any other date Q1 FY21 Q2 FY21 $ in millions Actual Guidance except for EPS, % of revenue Revenue $452.4 $465 - $485 Operating Margin 33.7% 32.0% – 34.0% Diluted EPS $1.78 $1.70 -
Slide 10: Revised Mid-Term Target Financial Model (Non-GAAP)
Revised Mid-Term Target Financial Model (Non-GAAP) Exceeded prior targets for LTM; expect continued improvements in product mix, efficiency, and operating leverage, while making strong investments in new products and technology Prior New FY19 FY20 LTM* Targets Targets** (Annual) Revenue $1,565 $1,67
Slide 11: Lumentum
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