Lumentum Holdings (LITE) Tops Q2 EPS by 55c, Beats on Revenues; Offers Q3 EPS/Revenue Outlook Below Consensus

Note: EPS may not be comparable

Lumentum Holdings (NASDAQ: LITE) reported Q2 EPS of $1.67, $0.55 better than the analyst estimate of $1.12. Revenue for the quarter came in at $404.6 million versus the consensus estimate of $357.78 million.

Business Outlook

The Company expects the following for the fiscal third quarter 2018:

• Net Revenue to be in the range of $280 million to $305 million
• Non-GAAP Operating margin of 15.5% to 18.0%
• Non-GAAP diluted earnings per share of $0.65 to $0.80;Note: Earnings per share based on approximately 65 million shares outstanding on a fully diluted basis

Highlights:

• Net revenue for the fiscal second quarter of 2018 was $404.6 million, with GAAP net income of $204.8 million, or $3.17 per diluted share.
• Net revenue for fiscal first quarter of 2018 was $243.2 million, with GAAP net income of $7.1 million, or $0.11 per diluted share.
• Net revenue for the fiscal second quarter of 2017 was $265.0 million, with GAAP net income of $11.8 million, or $0.19 per diluted share.
• Non-GAAP net income for the fiscal second quarter of 2018 was $107.8 million, or $1.67 per diluted share.
• Non-GAAP net income for fiscal first quarter of 2018 was $27.8 million, or $0.43 per diluted share.

GUIDANCE:

Lumentum Holdings sees Q3 2018 EPS of $0.65-$0.80, versus the consensus of $0.92. Lumentum Holdings sees Q3 2018 revenue of $280-305 million, versus the consensus of $328.4 million.

For earnings history and earnings-related data on Lumentum Holdings (LITE) click here.

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