Tuesday, May 7, 2019

Lumentum cites growth in ROADMs and lasers

Lumentum reported revenue of  $432.9 million for its fiscal third quarter ended March 30, 2019 compared to $373.7 million in the preceding quarter and $298.8 million for the same period last year. GAAP net loss for the quarter attributable to common stockholders of $(74.3) million, or $(0.98) per diluted share.

"The third quarter continued a theme that started more than a year ago for our ROADM and fiber laser product lines. For the fifth quarter in a row, we achieved double digit sequential, quarterly revenue growth and new record revenues for these product lines driven by strong customer demand for our new and differentiated products," said Alan Lowe, President and CEO.

"The third quarter was the first full quarter since completion of the acquisition of Oclaro.  We made solid progress on integrating the companies and attaining synergies, including the divestiture and planned exit of certain datacom product lines.  This continued progress results in our fourth quarter projected operating margins being sequentially higher on lower revenues after the divestiture and positions us well for achieving our long-term strategic goals."