Free Post Earnings Research Report: Lumentum’s Quarterly Earnings Advanced 192.98%

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LONDON, UK / ACCESSWIRE / March 05, 2018 / Active-Investors.com has just released a free earnings report on Lumentum Holdings Inc. (NASDAQ: LITE) ("Lumentum"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=LITE. The Company reported its financial results on February 06, 2018, for the second quarter ended December 30, 2017. The Company reported record revenues and profitability, driven by a strong demand and execution in its 3D sensing, ROADM, industrial, and telecom pump laser businesses. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Lumentum Holdings most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the second quarter of the fiscal year 2018, Lumentum's total revenues reached $404.6 million, up 52.68% from $265 million in Q2 FY17, owing to the Company's proprietary capabilities and several years of experience across multiple end markets. The Company's total revenue numbers surpassed analysts' consensus estimates of $357.3 million.

During Q2 FY18, Lumentum's cost of revenue was $232.7 million, an increment of 31.99% y-o-y. The Company's gross profit advanced 96.67% to $171.1 million in Q2 FY18 compared to $87 million in Q2 FY17. The Company's gross margin increased to 42.3% in the quarter ended December 30, 2017, compared to 32.8% in the same period of last year.

Lumentum's operating expenses were $80.3 million in Q2 FY18, 8.96% higher than $73.7 million in the comparable of period in 2017. In the reported quarter, the Company's research and development (R&D) expenses advanced 13.18% to $43.8 million y-o-y. Lumentum's income from operations was $90.8 million for the reported quarter, a sharp increase of 582.71% from $13.3 million in Q2 FY17. The Company's operating margin jumped 17.4% to 22.4% in Q2 FY18 from 5% in Q2 FY17.

Lumentum generated a net income of $204.8 million in Q2 FY18 compared to $11.8 million in Q2 FY17. The Company's diluted earnings per share (EPS) were $3.17 for the quarter under review, which was around 16.68 times the diluted EPS of $0.19 in the year earlier corresponding quarter. The results included special items such as stock-based compensation costs, amortization of acquired developed technologies, and other charges related to non-recurring activities. It also included the impact of a non-GAAP income tax benefit of $117 million, due to the recent US Tax Cuts and Jobs Act 2017 (TCJA). The Company's non-GAAP net income, after adjusting for non-recurring items, was $107.8 million in Q2 FY18, an increase of 200.28% from $35.9million in Q2 FY17. The Company's adjusted diluted EPS also rose 192.98% to $1.67 in the quarter under review from $0.57 in Q2 FY17. The Company's reported adjusted diluted EPS were higher than analysts' consensus estimates of $1.14.

Segment Details

During Q2 FY18, Lumentum's Optical Communications segment generated net revenues of $360.1 million, an increase of 52.2% from $236.6 million in Q2 FY17. The segment's revenues accounted for 89% of the Company's total revenues in Q2 FY18 compared to 89.28% in Q2 FY17. The segment's non-GAAP gross margin was 45.0% for the reported quarter compared to 36.6% in year ago same quarter.

For Q2 FY18, Lumentum's Commercial Lasers segment generated net revenues of $44.5 million, up 56.69% from $28.4 million in Q2 FY17. The segment contributed 11% to the Company's total revenues in the quarter under review from 10.72% in the previous year's comparable quarter. The segment's non-GAAP gross margin was 44.7% in Q2 FY18 compared to 39.4% in Q2 FY17.

Cash Matters

Lumentum had cash and cash equivalents of $202.1 million as on December 30, 2017, a decrease of 25.94% from $272.9 million as on July 01, 2017.

Outlook

For the third quarter of the fiscal year 2018, Lumentum expects net revenues to be in the range of $280 million to $305 million. The Company anticipates a non-GAAP operating margin of 15.5% to 18%, and non-GAAP diluted EPS of $0.65 to $0.80 in Q3 FY18.

Stock Performance Snapshot

March 02, 2018 - At Friday's closing bell, Lumentum Holdings' stock advanced 2.80%, ending the trading session at $63.28.

Volume traded for the day: 1.86 million shares.

Stock performance in the last month – up 36.66%; previous three-month period – up 19.96%; past twelve-month period – up 38.31%; and year-to-date – up 29.40%

After last Friday's close, Lumentum Holdings' market cap was at $3.81 billion.

The stock is part of the Technology sector, categorized under the Communication Equipment industry. This sector was up 1.0% at the end of the session.

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