Lumentum Holdings Inc. · NASDAQ:LITE
Lumentum — Q4 FY2019 Earnings Presentation
12 slides from Lumentum's earnings presentation, Aug 8, 2019
Slide 1: Q4 and Full Year Fiscal 2019 Conference Call
Q4 and Full Year Fiscal 2019 Conference Call August 8, 2019
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: Full Year FY19 Key Points
Full Year FY19 Key Points ▪ Record full year performance – Revenue of $1.57B, up 25% over the prior year – Strong increase in telecom revenue from organic transport growth and acquisition – Non-GAAP Gross Margin expanded 60 bps to 39.5% – Non-GAAP Operating Margin expanded 80 bps to 20.5% ▪ Progress
Slide 4: Q4 FY19 Key Points
Q4 FY19 Key Points ▪ Acquisition synergies through Q4 improved margins despite revenue decline – Non-GAAP Operating Margin up 120 bps Q/Q on lower revenue – Revenue declined 7% Q/Q to $404.6M – Huawei sales declined 25% Q/Q primarily impacting telecom – Lasers sales declined 13% Q/Q as expected due
Slide 5: Q4 FY19 Results (GAAP)
Q4 FY19 Results (GAAP) $ in millions Q4 FY19 Q3 FY19 Q4 FY18 except for EPS, % of revenue Revenue $404.6 $432.9 $301.1 Gross Margin 86.8 21.5% 88.3 20.4% 95.5 31.7% Operating Expenses 100.6 24.9% 164.7 38.0% 74.6 24.8% Operating Income (13.8) (3.4)% (76.4) (17.6)% 20.9 6.9% (Loss) Diluted EPS $(0.34
Slide 6: FY19 Results (GAAP)
FY19 Results (GAAP) $ in millions FY19 FY18 except for EPS, % of revenue Revenue $1,565.3 $1,247.7 Gross Margin 425.9 27.2% 432.1 34.6% Operating Expenses 447.5 28.6% 292.2 23.4% Operating Income (Loss) (21.6) (1.4)% 139.9 11.2% Diluted EPS $(0.54) $3.82 Diluted Shares-M 70.7 63.3 GAAP results for F
Slide 7: Q4 FY19 Results (Non-GAAP)
Q4 FY19 Results (Non-GAAP) $ in millions Q4 FY19 Q3 FY19 Q4 FY18 except for EPS, % of revenue Revenue $404.6 $432.9 $301.1 Gross Margin 157.4 38.9% 168.8 39.0% 112.1 37.2% Operating Expenses 80.7 19.9% 91.8 21.2% 58.5 19.4% Operating Income 76.7 19.0% 77.0 17.8% 53.6 17.8% Diluted EPS $0.92 $0.91 $0
Slide 8: FY19 Results (Non-GAAP)
FY19 Results (Non-GAAP) $ in millions FY19 FY18 except for EPS, % of revenue Revenue $1,565.3 $1,247.7 Gross Margin 618.5 39.5% 485.1 38.9% Operating Expenses 297.9 19.0% 238.9 19.1% Operating Income 320.6 20.5% 246.2 19.7% Diluted EPS $4.25 $3.82 Diluted Shares-M 71.8 64.8 Non-GAAP results for FY19
Slide 9: Q4 FY19 Segment Results
Q4 FY19 Segment Results Q4 FY19 Q3 FY19 Q4 FY18 $ in millions Revenue $404.6 $432.9 $301.1 Optical Communications $ 356.8 377.9 244.9 Telecom 227.7 243.4 133.1 Datacom 41.5 57.3 34.5 Industrial & Consumer(1) 87.6 77.2 77.3 Commercial Lasers 47.8 55.0 56.2 Gross Margin (Non-GAAP) 38.9% 39.0% 37.2% Op
Slide 10: Balance Sheet Selected Items
Balance Sheet Selected Items Q4 FY19 Q3 FY19 $ in millions Cash and Short-term Investments $768.5 $697.5 Working Capital(1) 270.3 362.6 Property, Plant & Equipment, net 433.3 390.6 Total Assets 2,716.6 2,771.4 Total Liabilities 1,219.5 1,267.5 Shareholder’s Equity 1,497.1 1,503.9 (1) Working capital
Slide 11: Q1 FY20 Guidance (Non-GAAP)
Q1 FY20 Guidance (Non-GAAP) Guidance is based on our expectations as of today and will not be updated or confirmed as of any other date Q4 FY19 Q1 FY20 $ in millions Actual Guidance except for EPS, % of revenue Revenue $404.6 $435 - $455 Operating Margin 19.0% 22.5% – 24.5% Diluted EPS $0.92 $1.12 -
Slide 12: Lumentum
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