Lumentum posts Q4 earnings beat, revenue exceeds forecasts
Optical components maker Lumentum reported adjusted earnings per share and revenue above Wall Street expectations for the quarter ended June 30.
Lumentum Holdings Inc. on Tuesday reported fiscal fourth-quarter earnings that exceeded analyst estimates, while revenue also topped projections.
The optical components manufacturer said adjusted earnings per share came to $1.08, beating the $0.80 forecast from analysts polled by Refinitiv. Revenue totaled $452.6 million, surpassing the $440.1 million estimate.
Net income for the quarter amounted to $71.2 million, or $0.98 per share, compared with a net loss of $10.7 million, or $0.15 per share, in the same period a year earlier. The company attributed the improved performance to stronger demand in its communications and commercial laser segments.
Gross margin expanded to 41.3% from 35.8% in the prior-year quarter, reflecting higher sales volume and improved product mix. Operating expenses rose 12% year-over-year to $145.3 million, primarily due to increased R&D and selling, general and administrative costs.
Lumentum provided guidance for the current quarter, forecasting revenue between $440 million and $470 million and adjusted earnings per share of $0.90 to $1.10. The outlook assumes continued demand in its core markets, though the company noted potential risks from supply chain disruptions and geopolitical tensions.
Shares of Lumentum were up 3.5% in after-hours trading following the release.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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