Showing posts with label Lumentum. Show all posts
Showing posts with label Lumentum. Show all posts

Tuesday, August 11, 2020

Lumentum posts quarterly sales of $368 million

Lumentum reported net revenue for its fiscal fourth quarter of 2020 was $368.1 million, with GAAP net loss attributable to common stockholders of $(4.6) million, or $(0.06) per diluted share. This compares with revenue of $402.8 million in the preceding quarter and revenue of $404.6 million for the same period a year earlier.

"Strong market demand and solid execution drove better than projected results across all financial metrics in our fourth quarter, especially gross margin and EPS," said Alan Lowe, President and CEO. "We head into fiscal 2021 with demand increasingly driven by new products and technologies, strengthened market positions, and an improving financial model with accruing benefits from acquisition synergies. We became a standalone public company five years ago and since then have significantly improved our financial performance every year. While we have accomplished a lot over the past five years, I believe our future is brighter than ever."

Key new product areas for Lumentum include:

  • Contentionless MxN and high-port count ROADMs to enable network capacity scaling
  • PIC based components and DCO modules to enable scaling to even higher network bandwidths
  • PAM4 and high-speed EMLs and DMLs to enable next generation datacenters and 5G networks
  • Highly-efficient VCSEL arrays for next generation contact-less biometric authentication,
  • computation photography, LiDAR, and other computer vision applications
  • Ultra-fast solid-state lasers for demanding semiconductor and display manufacturing applications 

Tuesday, May 5, 2020

Lumentum posts sales of $402.8 million, down 7% YoY

Lumentum reported net revenue for its fiscal third quarter of 2020, ended March 28, 2020, of $402.8 million, with GAAP net income of $43.4 million, or $0.56 per diluted share. Net revenue for the fiscal second quarter of 2020 was $457.8 million, with GAAP net income of $49.1 million, or $0.63 per diluted share. Net revenue for the fiscal third quarter of 2019 was $432.9 million, with GAAP net loss of $(74.3) million, or $(0.98) per diluted share. Non-GAAP net income for the fiscal third quarter of 2020 was $98.0 million, or $1.26 per diluted share. Non-GAAP net income for the fiscal second quarter of 2020 was $119.4 million, or $1.53 per diluted share. Non-GAAP net income for the fiscal third quarter of 2019 was $70.9 million, or $0.92 per diluted share.

COVID-19 revenue impact was more than $10 million higher than in prior guidance due to the spread beyond China late in the quarter.

"While the COVID-19 pandemic is currently impacting our ability to satisfy strong customer demand for our communications products, we believe the world's experience with COVID-19 will accelerate the shift to increasingly digital and virtual approaches to work, education, health care, entertainment, social interaction, and commerce, creating even more opportunity for Lumentum over the long-term", said Alan Lowe, President and CEO. "Our strategy of technology and product leadership in close alignment with market leading customers is even more apt in these times. The market and technology leadership positions and financial strength we have attained to date, with this strategy, position us well for the future."



https://www.lumentum.com/en/media-room/news-releases/lumentum-announces-fiscal-third-quarter-2020-financial-results

Wednesday, March 11, 2020

Lumentum introduces 980nm high-power pump lasers

Lumentum introduced a series of advanced 980 nanometer (nm) single-mode pump lasers that offer significantly higher power and higher efficiency, enabling high-density erbium-doped fiber amplifier (EDFA) designs.

Lumentum said its new pump lasers employ revolutionary chips that are based on Lumentum's field-proven, proprietary, high-reliability technology, but offer operating power levels from 250 mW to 1600 mW.

Highlights

  • The new 5200 Series is designed for undersea optical applications that require ultra-high reliability when pumping EDFAs in submarine repeaters and branching units. The new uncooled laser offers increased operating power up to 800 mW. Additionally, by employing new and innovative advancements in chip technology and high-reliability packaging, the 5200 Series improves customers' overall optical performance. The 5200 Series will be available in July 2020.
  • The H11 Series, an uncooled 3-pin low-profile planar pump laser with up to 250 mW output power, significantly reduces the overall pump laser size and power consumption. This laser series employs both an innovative distributed feedback (DFB) laser chip, which integrates a high-power laser and grating into a single high-reliability laser die, and an improved package design. The H11 Series provides a noise-free, narrowband spectrum under temperature, drive current, and optical feedback changes. The H11 Series will be available in May 2020.
  • The new D2 Series dual-chip 980 nm pump laser provides up to 1.6 W total optical output in a low-profile 14-pin butterfly package. The D2 Series also incorporates an innovative next-generation chip and semi-autonomous assembly technology, which significantly improves power and density. The D2 Series will be available in July 2020.

Lumentum delivers externally modulated lasers for 100G PAM4

Lumentum introduced three new high-speed datacom laser chips to enable the growth of future hyperscale data centers and 5G wireless applications.

  • 100G PAM4 Uncooled EMLs for Next-Generation Data Centers - Lumentum PAM4-optimized 53 Gbaud EMLs enable full C-temp transceiver designs without using a TE cooler. As a long-standing leader with expertise in complex EML technology, Lumentum has developed an industry-first uncooled, self-hermetic EML. Available to sample in Q3 2020, this laser chip will lead the transition in data center infrastructure from 100G to 400G by enabling a wide-temperature range and high-performance 2 km PAM4 modules.
  • 50G PAM4 VCSELs for High-Speed Short Reach Optical Networks - Enabled by its advanced 6-inch GaAs wafer foundry and its experience producing high-reliability 3D sensing VCSELs at high-volume, the Lumentum 50G (28 Gbaud) VCSEL provides unprecedented uniformity at scale. In addition, the VCSEL is suitable for non-hermetic applications from 0ºC to 80ºC, delivers extremely high yields, and is RoHS10 and Telcordia GR-468 compliant. This solution will be available to customers in Q2 2020.
  • 50G PAM4 DMLs for 5G Mid-haul, Backhaul, and Hyperscale Data Centers - Lumentum DMLs use a sophisticated cavity design to operate over wide and demanding temperature ranges. Offering higher-bandwidth, the 50G PAM4 (28 Gbaud) DMLs provide the equivalent performance of an EML, but in a smaller and more cost-effective footprint. This product is now available for sampling.

"To sustain the expected growth in these markets, customers critically need an experienced supplier that can provide high performance, high quality, and scalability," said Senior Vice President and General Manager, Datacom, Walter Jankovic. "At Lumentum, we leverage our high-volume manufacturing capability, unmatched materials, and laser device expertise in Indium Phosphide (InP) and Gallium Arsenide (GaAs), to meet our customer expectations for chip innovation at scale."

Tuesday, February 25, 2020

Lumentum withdraws from OFC

Lumentum confirmed that it will not attend the upcoming OFC 2020 conference and tradeshow scheduled for March 8-12 in San Diego due to the continuing spread of the COVID-19 coronavirus globally. This withdrawal includes all investor and industry events scheduled during OFC.

"Every year, we look forward to attending OFC to showcase our latest innovations and advancements in technology," said Alan Lowe, Lumentum President and CEO. "However, our highest priority is the health and safety of our employees, customers, and partners. This year, due to the rapidly evolving coronavirus outbreak, we believe we can better serve all of our stakeholders by exercising an abundance of caution and not attending OFC."

Monday, September 23, 2019

Lumentum demos coherent modules, WSS, PAM4-optimized EMLs

Lumentum is presenting its full-spectrum of optical communications solutions at ECOC 2019 in Dublin, including:

Coherent Network Transmission Products

  • Line-side coherent CFP2 Modules for 100G/200G+ transmission: Lumentum will exhibit both 100G/200G CFP2-ACO and CFP2-DCO coherent pluggable transceiver modules that leverage Lumentum's high-speed InP PIC devices.
  • Coherent building blocks: High-speed coherent components for 100G and beyond including integrated coherent TROSAs with up to 64 GBaud symbol rates, high-bandwidth integrated driver modulators, and micro and dual ITLAs.
  • Line-side direct-detect modules for 10G/25G tunable transmission: With more than 10 years of deployments and billions of device hours in the field, Lumentum is an established leader in tunable transmission for 10G and beyond. A broad range of tunable transmission products will be on display.

TrueFlex ROADM Portfolio

  • Next-generation TrueFlex contentionless twin 8x24 wavelength selective switch (WSS): the newest addition to Lumentum's ROADM portfolio, enables simplified add/drop port scaling to support capacity growth in CDC networks and eliminates the need for EDFA arrays in many network designs. In addition, Lumentum will feature the TrueFlex monitoring portfolio and the TrueFlex Micro WSS platform including the high-port count Micro Twin 1x20 and 1x35, the Micro 1x9, the Micro Twin 1x9, and the Nano 1x9.

High-Speed Datacom Laser Chips

  • DMLs: Lumentum DMLs offer high-reliability and use a pioneering cavity design to operate over the wide temperature ranges demanded by the latest 5G wireless systems.
  • EMLs: Lumentum PAM4-optimized EMLs enable next-generation 400G and single-lambda 100G solutions that reduce the cost per bit. Lumentum laser chips enable a wide variety of standards-compliant modules for high-speed networking.
  • VCSELs: Lumentum VCSELs for short-reach applications utilize Lumentum's experience in high-volume 3D sensing applications to deliver high-performance and cost-effective solutions to data centers and can be supplied as a single bare die, or 1x4 arrays.

Telecom Pump Lasers

  • Next-generation high-power and high-reliability 980 nm pump lasers: The next-generation family of 980 nm pumps offer a range of maximum output powers from 800 mW to 1000 mW in a variety of form factors.

SDN Open Networking Platform

The Open Networking Foundation (ONF) will perform a live open and disaggregated transport network (ODTN) demonstration using Lumentum's optical network elements at Demo 2. The live demo will showcase the use of the ONOS SDN controller for disaggregated transport networks, covering the provisioning of data connectivity services and demonstrating advanced automatic failure recovery and resiliency, at both the data and control plane level.

https://www.lumentum.com

Wednesday, August 28, 2019

Lumentum appoints Penny Herscher as Board Chair

Lumentum appointed Penny Herscher as chair of its board of directors.

Herscher was one of the founding board members of Lumentum as it spun out of JDSU in 2015.She currently also serves on the boards of Faurecia SA, Verint, and PROS Holdings, Inc. Ms. Herscher previously served as CEO of FirstRain, a privately held company in the unstructured data analytics space, as CEO of Simplex Solutions, a publicly traded electronic design automation company and in C-level and senior executive positions for Cadence Design Systems, Inc. and Synopsys, Inc.

"Penny has been an invaluable resource and trusted advisor on Lumentum's board since our inception when we spun off from JDSU," said Alan Lowe, President and CEO. "I look forward to working with Penny even more closely in her new role as board chair to deliver increasing value for our stakeholders."

"I am honored to have been appointed the chair of Lumentum's board of directors," said Ms. Herscher. "I am more optimistic than ever about Lumentum's opportunities—the world is increasingly reliant on Lumentum's leadership in photonic solutions across multiple, high-growth industries. I look forward to working with Alan and the board to continue to serve our customers and return value to our stockholders and employees."

Thursday, August 8, 2019

Lumentum posts stronger results even as sales to Huawei drop 25%

Lumentum reported net revenue of $404.6 million for its fiscal fourth quarter ended June 29, 2019, with GAAP net loss attributable to common stockholders of $(25.8) million, or $(0.34) per diluted share.

For comparison, net revenue for the preceding quarter was $432.9 million, with GAAP net loss of $(74.3) million, or $(0.98) per diluted share. A year ago, net revenue for the same period (fiscal fourth quarter of 2018) was $301.1 million, with GAAP net income of $25.7 million, or $0.40 per diluted share.

Optical communications revenue for the quarter was $356.8 billion, down 5.6% compared to the preceding quarter.

For the full fiscal year 2019, Lumentum reported net revenues of $1,565.3 million, with GAAP net loss attributable to common stockholders of $(37.9) million, or $(0.54) per diluted share.

"An eventful fourth quarter capped off an exciting fiscal 2019 during which we made significant progress against our strategic goals and achieved record results with revenue increasing 25% to more than $1.5 billion and operating margin expanding to more than 20%," said Alan Lowe, President and CEO. "With market leading positions in the growing telecom and 3D sensing markets, a datacom strategy that profitably benefits from growth in cloud and 5G wireless network deployments, a commercial lasers business that bucked market trends and grew to record levels, and a more profitable business model driven by the increased scale and synergies from the Oclaro acquisition, we are well positioned for fiscal 2020 and beyond."

Some highlights from Lumentum:


  • 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 to customer inventory levels
  • Datacom sales declined 28% Q/Q due to transceiver product line exits and divestiture
  • Record datacom chip sales, which increased 11% Q/Q
  • Record ROADM sales despite geopolitical disruption in the quarter
  • Industrial & Consumer sales grew 13% Q/Q driven by growth in both industrial and 3D sensing


http://investor.lumentum.com/investors/default.aspx

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."

http://investor.lumentum.com/investors/default.aspx



Monday, April 22, 2019

Lumentum completes divestiture to CIG

Lumentum completed its previously-announced divestiture of certain Lumentum datacom transceiver product lines to Cambridge Industries Group (CIG).

The products were originally developed and manufactured by Oclaro Japan.

CIG also entered into a long-term strategic supply agreement for Lumentum's photonic chips.

"The closing of the transaction with CIG is a key milestone in the shift in Lumentum's strategy to focus on photonic chips while continuing to participate in the anticipated large growth in datacom transceiver volumes driven by datacenter expansion and 5G wireless over the coming years," said Walter Jankovic, Lumentum's Senior Vice President and General Manager, Datacom. "We are highly focused on accelerating innovation at the photonic chip level and have a strong pipeline of new chip products."

As a result of the timing of the divestiture close, which occurred following the end of the fiscal third quarter, the divestiture will not impact Lumentum's financial results for the fiscal third quarter ended March 30, 2019.  Lumentum expects revenue from datacom transceivers will decline in the fiscal fourth quarter relative to the fiscal third quarter by approximately $20 million to $25 million, with approximately $20 million of the decline related to the divestiture and an additional $5 million due to continuing declines in remaining datacom transceiver revenues.

Tuesday, March 5, 2019

Acacia and Lumentum demo 200G Interoperability in CFP2-DCO

Acacia Communications and Lumentum successfully demonstrated interoperability between their respective CFP2-DCO modules operating at 200G.

The modules, based on Acacia's Meru DSP ASIC, demonstrated 200G transmission over an amplified link with greater than 1,000 km of standard single mode fiber, using high-performance 8QAM and 16QAM operating modes.

The companies said CFP2-DCOs are becoming increasingly important for higher-speed optical networks because they integrate the coherent DSP into the pluggable module. The digital host interface enables simpler integration between module and system resulting in faster service activation for telecommunication providers, and a pay-as-you-grow deployment model whereby the cost of additional ports can be deferred until additional services are needed.

"This demonstration of interoperability at 200G highlights the value that we intended to create through our collaboration with Lumentum on the CFP2-DCO," said Benny Mikkelsen, Founder and Chief Technology Officer of Acacia Communications. "Historically, interoperability in commercially available products has been limited to lower performance at 100G data rates. We believe that Meru-based modules are the only commercially available CFP2-DCO modules supporting 8QAM and 16QAM modulation at 200G."

"Industry trends are moving toward increasing multi-vendor interoperability, motivated by the needs of network operators," said Beck Mason, Senior Vice President, General Manager, Telecom Transmission at Lumentum. "Our CFP2-DCO module, based on our proven Indium Phosphide PIC technology, supports both standards-based interoperability at 100G, as well as higher performance modes at 100G and 200G.

Friday, February 8, 2019

Lumentum appoints CFO

Lumentum announced the appointment of Wajid Ali as Executive Vice President and Chief Financial Officer (CFO), replacing Christopher Coldren who had been serving as the company's Interim Chief Financial Officer since June 2018.

Ali joins Lumentum from Synaptics, where he served as Senior Vice President and Chief Financial Officer.  Prior to that, he was Vice President and Controller of Teledyne Technologies, after having served as Chief Financial Officer at DALSA Corporation, a public semiconductor company that was acquired by Teledyne in 2011.  He also held key financial management positions at AMD and ATI, overseeing the finance functions for large business groups.

Monday, December 10, 2018

Lumentum completes acquisition of Oclaro

As expected, Lumentum closed its acquisition of Oclaro and trading in Oclaro common stock on the NASDAQ Stock Market has ceased.

Under the terms of the merger agreement, Oclaro stockholders will receive $5.60 in cash and 0.0636 of a share of Lumentum common stock for each share of Oclaro common stock that is exchanged in accordance with the terms of the merger agreement. Lumentum financed the cash portion of the transaction consideration with cash from the combined company balance sheets and $500 million from a new term loan entered into in connection with the closing of the transaction.

Lumentum said it anticipates achieving an estimated $60 million in synergies over the next 12-24 months.

"I'm excited to close the acquisition and now move forward with realizing the strong potential of the combined company. The combined scale, resources, talent, and breadth of technologies will help us accelerate innovation and the development of the products our customers and network operators around the world need to handle the tremendous and unrelenting growth in network bandwidth," said Alan Lowe, president and CEO of Lumentum.

"Completion of the transaction creates a powerful force in the optical industry and tremendous opportunity for employees, customers, and shareholders," said Greg Dougherty, Oclaro's CEO. "It was a great pleasure to lead the Oclaro team, and I wish the new combined Lumentum team future success."

https://www.lumentum.com/en/media-room/news-releases/lumentum-announces-completion-oclaro-acquisition



Friday, December 7, 2018

Lumentum - Oclaro deal expected to close Dec 10

Lumentum confirmed that it has obtained antitrust clearance from the People's Republic of China's State Administration for Market Regulation concerning its pending acquisition of Oclaro.

Lumentum expects that the Oclaro acquisition will close on or around December 10, 2018.

Lumentum to acquire Oclaro for $1.8 billion

Lumentum agreed to acquire Oclaro for approximately $1.8 billion in cash and stock.

Under the deal, Oclaro stockholders will be entitled to receive $5.60 in cash and 0.0636 of a share of Lumentum common stock for each share of Oclaro stock, representing a premium of 27% to Oclaro's closing price on March 9, 2018 and a premium of 40% to Oclaro's 30 day average closing price.  Oclaro stockholders are expected to own approximately 16% of the combined company at closing.

The combined company is expected to have annual revenue of $1.733 billion and an operating margin of 19%, prior to synergies from the combination.

Lumentum, which is based in Milpitas, California, supplies a range of optical components and subsystems for telecom, enterprise, and data center networking equipment. The company was created in 2015 as a split off from JDSU.

Oclaro supplies optical components and modules for the long-haul, metro and data center markets. The company is based in San Jose, California.

"Joining forces with Oclaro strengthens our product portfolio, broadens our revenue mix, and positions us strongly for the future needs of our customers.  Oclaro brings its leading Indium Phosphide laser and Photonic Integrated Circuit and coherent component and module capabilities to Lumentum.  The combined company will drive innovation faster and accelerate the development of products to enable our customers to win," said Alan Lowe, Lumentum's President and CEO.  "We are delighted to welcome the talented Oclaro team to Lumentum and look forward to a swift completion of the transaction with a focus on supporting our customers and delivering shareholder value."

Monday, November 12, 2018

Lumentum trims guidance after customer cuts order for laser diodes

Lumentum trimmed its guidance for its fiscal second quarter 2019 after a large customer cut its order for laser diodes for 3D sensing.

"We recently received a request from one of our largest Industrial and Consumer customers for laser diodes for 3D sensing to materially reduce shipments to them during our fiscal second quarter for previously placed orders that were originally scheduled for delivery during the quarter," said Alan Lowe, President and CEO. "With our proven ability to deliver high volumes, years of experience, hundreds of millions of devices in the field, and new product and customer funnel, we remain confident in our leadership position in the nascent market for laser diodes for 3D sensing."

Revised Net revenue, non-GAAP operating margin, and non-GAAP diluted earnings per share expectations along with the prior guidance range provided in the Company's fiscal first quarter earnings release and earnings conference call on November 1, 2018 are provided in the table below.

Monday, September 24, 2018

ECOC 2018 - Lumentum intros Contentionless Wavelength Switch

At ECOC 2018, Lumentum introduced its next-generation, contentionless MxN Wavelength Selective Switch (WSS), adding to its extensive portfolio of Reconfigurable Optical Add-Drop Multiplexer (ROADM) solutions for optical networking applications.

Lumentum's TrueFlex Twin 8x24 contentionless WSS delivers low loss, removing the need for Erbium-Doped Fiber Amplifier (EDFA) arrays in many network designs while enabling add/drop port scaling to support capacity growth in CDC networks. The WSS passband filters out wideband noise delivering high performance independent of port count and relaxes complex filtering requirements on transmitters and receivers. Eliminating EDFA arrays enables the delivery of higher density, lower cost, higher reliability, highly power efficient solutions.

Commercial availability is expected in Q1 2019.

"ROADMs have become critical network elements as they enable network operators to dynamically deliver and maximize network bandwidth on demand," said James Goodchild, director product line management, Wavelength Management products. "Current solutions which employ multicast switches are challenged to support the cost, density, and performance required by network operators in the future as they scale next generation Colorless, Directionless, Contentionless (CDC) networks. Only the contentionless MxN WSS, which takes a new innovative approach, provides the scale and performance benefits needed."

Wednesday, August 8, 2018

Lumentum delivers strong quarterly sales of $301.1 million

Lumentum reported net revenue of $301.1 million for its fiscal fourth quarter 2018, ended 30-June-2018, with GAAP net income attributable to common stockholders of $25.7 million, or $0.40 per diluted share. Net revenue for fiscal third quarter 2018 was $298.8 million, with GAAP net income attributable to common stockholders of $2.4 million, or $0.04 per diluted share. Net revenue for the fiscal fourth quarter 2017 was $222.7 million, with GAAP net loss attributable to common stockholders of $(55.2) million, or $(0.90) per diluted share. Non-GAAP net income for the fiscal fourth quarter 2018 was $61.6 million, or $0.95 per diluted share.

Net revenue for fiscal year 2018 was $1,247.7 million, with GAAP net income attributable to common stockholders of $241.5 million, or $3.82 per diluted share. Net revenue for fiscal year 2017 was $1,001.6 million, with GAAP net loss attributable to common stockholders of $(103.4) million, or $(1.71) per diluted share.

"Record revenues in TrueFlex® ROADMs, commercial lasers, and industrial pump lasers drove strong fourth quarter results, capping off a record fiscal 2018 that saw 25% year over year growth and 19.7% operating margins," said Alan Lowe, President and CEO, "Our strategy of investing in differentiated products addressing multiple growing end-markets critically dependent on photonics drove our strong fiscal 2018 results and positions us well for the future."

Wednesday, May 2, 2018

Lumentum posts revenue of $298.8 million

Lumentum reported net revenue for the fiscal third quarter of 2018 of $298.8 million, with GAAP net income of $2.7 million, or $0.04 per diluted share.

Non-GAAP net income for the fiscal third quarter of 2018 was $50.6 million, or $0.78 per diluted share. Non-GAAP net income for fiscal second quarter of 2018 was $107.8 million, or $1.67 per diluted share. Non-GAAP net income for the fiscal third quarter of 2017 was $30.8 million, or $0.49 per diluted share.


"Our strategy of investing in differentiated products and technologies, focusing on close relationships with market leading customers, and leveraging our technologies across multiple growing end markets, is working.  Driven by strong customer demand and execution on capacity expansion, in the third quarter we achieved new record Lasers revenues, which increased 18% sequentially, and grew Telecom revenues by more than 11% sequentially, with notable strength in ROADMs, which were up 27% sequentially," said Alan Lowe, President and CEO. "Though seasonally down, we made good progress on new 3D sensing customer programs and are well positioned for new customer product introductions during FY19. During the third quarter, we announced reaching an agreement to acquire Oclaro and we continue to work with Oclaro on this pending transaction."


Lumentum to acquire Oclaro for $1.8 billion

Lumentum agreed to acquire Oclaro for approximately $1.8 billion in cash and stock.

Under the deal, Oclaro stockholders will be entitled to receive $5.60 in cash and 0.0636 of a share of Lumentum common stock for each share of Oclaro stock, representing a premium of 27% to Oclaro's closing price on March 9, 2018 and a premium of 40% to Oclaro's 30 day average closing price.  Oclaro stockholders are expected to own approximately 16% of the combined company at closing.

The combined company is expected to have annual revenue of $1.733 billion and an operating margin of 19%, prior to synergies from the combination.

Lumentum, which is based in Milpitas, California, supplies a range of optical components and subsystems for telecom, enterprise, and data center networking equipment. The company was created in 2015 as a split off from JDSU.

Oclaro supplies optical components and modules for the long-haul, metro and data center markets. The company is based in San Jose, California.

Wednesday, March 14, 2018

Lumentum Showcases 100G Single Lambda PAM4 EML, 400G

At this week's OFC 2018 in San Diego, Lumentum is conducting 100G single lambda and 400G FR4 demonstrations, as well as showcasing its catalog of optical modules and transceivers.

Live 100G Single Lambda Demonstration: Lumentum's 100G single lambda Multi-Source Agreement (MSA) compliant QSFP28 transceiver features PAM4 higher order modulation technology to transmit 100G over a single wavelength, as well as an IEEE compliant CAUI-4 electrical interface. The latter ensures that the module is electrically compatible with existing 100G QSFP28 ports. Lumentum continues to leverage its externally modulated laser (EML) to enable high data rates and provide performance margin. The 100G Single Lambda is essential as a building block for 400G modules using four lanes of 100G transmission to provide a cost-effective solution to 400G client-side transmission.

Live 400G Demonstrations: Lumentum is showing interoperability between 400G QSFP-DD FR4 and OSFP FR4 optical modules.

Lumentum's portfolio of 100G optical transceivers includes:

  • QSFP28 SR4: compact 100G transceiver supporting links of up to 100 m on OM4 multimode fiber.
  • QSFP28 CWDM4: compact 100G transceiver supporting links of up to 2 km on duplex single-mode fiber.
  • QSFP28 LR4: compact 100G transceiver supporting links of up to 10 km on duplex single-mode fiber. They support both Ethernet and OTN rates with a maximum power dissipation of 3.5 W.
  • 4WDM-10, 20: compact 100G transceiver supporting links of up to 10 km and 20 km on duplex single-mode fiber extending the reach of CWDM4 and LR4 platforms through the use of FEC on the host card. Supporting both Ethernet and OTN rates with a maximum power dissipation of 3.5 W.
  • CFP2/CFP4 LR4: transceivers support links of up to 10 km on duplex, single-mode fiber.
  • SDN Optical Whitebox/Graybox Platform:

Lumentum's SDN optical whitebox/graybox platform:  network-ready hardware with open interfaces for system integrators seeking to rapidly integrate with their networking software layer. Variants such as Terminal Amplifier, Line Amplifier, ROADM, Transport Mux/Demux, and Optical Fiber Monitoring are available on this platform for system integrators to construct solutions for data center interconnect (DCI), multi-degree colorless/directionless ROADM, and network monitoring applications.

High-speed Optical Modulators:  Lumentum offers a portfolio of high-performance, Optical Internetworking Forum (OIF)-compliant, Mach Zehnder lithium-niobate modulators. In addition to current models supporting 100G, 200G, and 400G applications, a 64 Gbaud, OIF-compliant modulator is now available for sampling, with general availability expected in Q4 of 2018. Lumentum is also engaged with both the OIF and customers to define next-generation modulators utilizing both Indium Phosphide (InP) and Silicon Photonics (SiP) technologies needed to enable dense, high performance modules for use in metro and data center interconnect applications.

TrueFlex Single-slot Super Transport Blades: featuring the Micro 1x9, the Micro Twin 1x9, and the Nano 1x9, Optical Channel Monitor, Switchable-Gain Preamp EDFA, and Variable-Gain Booster EDFA.
TrueFlex Multicast Switch portfolio: featuring the Twin 4x4 multicast switch and the upgradeable Twin 8x16 switch. These products continue to push the envelope for contentionless add/drop capacity and density.
TrueFlex Optical Channel Monitoring Portfolio: featuring the Quad OCM, and the Tunable Filter OCM. These solutions offer fixed and gridless scanning for power monitoring blades and single-slot ROADM blades.

Monday, March 12, 2018

Lumentum to acquire Oclaro for $1.8 billion

Lumentum agreed to acquire Oclaro for approximately $1.8 billion in cash and stock.

Under the deal, Oclaro stockholders will be entitled to receive $5.60 in cash and 0.0636 of a share of Lumentum common stock for each share of Oclaro stock, representing a premium of 27% to Oclaro's closing price on March 9, 2018 and a premium of 40% to Oclaro's 30 day average closing price.  Oclaro stockholders are expected to own approximately 16% of the combined company at closing.

The combined company is expected to have annual revenue of $1.733 billion and an operating margin of 19%, prior to synergies from the combination.

Lumentum, which is based in Milpitas, California, supplies a range of optical components and subsystems for telecom, enterprise, and data center networking equipment. The company was created in 2015 as a split off from JDSU.

Oclaro supplies optical components and modules for the long-haul, metro and data center markets. The company is based in San Jose, California.

"Joining forces with Oclaro strengthens our product portfolio, broadens our revenue mix, and positions us strongly for the future needs of our customers.  Oclaro brings its leading Indium Phosphide laser and Photonic Integrated Circuit and coherent component and module capabilities to Lumentum.  The combined company will drive innovation faster and accelerate the development of products to enable our customers to win," said Alan Lowe, Lumentum's President and CEO.  "We are delighted to welcome the talented Oclaro team to Lumentum and look forward to a swift completion of the transaction with a focus on supporting our customers and delivering shareholder value."

"I am very pleased that two of the optical industry leaders, Oclaro and Lumentum, will join forces.  Together, we will be an even stronger player in fiber optic components and modules for high-speed communications and a market leader in 3D sensing.  This is a fantastic combination for all of our stakeholders, including stockholders, employees, customers and partners," said Greg Dougherty, Oclaro's CEO, "I am extremely proud of what the Oclaro team has accomplished over the last five years. We have enjoyed tremendous success and this combination will create even more exciting opportunities for the team."