Lumentum Reports Fiscal Q2
MILPITAS, Calif. -- Lumentum Holdings Inc. ("Lumentum") today reported results for its fiscal second quarter ended December 26, 2015.
Net revenue for the fiscal second quarter 2016 was $218.3 million, with GAAP net income of $2.8 million, or $0.05 per share. Prior quarter net revenue was $212.6 million, with GAAP net loss of $(0.2) million, or $0.00 per share. Net revenue for the fiscal second quarter 2015 was $210.5 million, with GAAP net loss of $(4.1) million, or $(0.07) per share.
Non-GAAP net income for the fiscal second quarter 2016 was $19.1 million or $0.31 per share. Prior quarter non-GAAP net income was $14.8 million, or $0.25 per share. Fiscal second quarter 2015 non-GAAP net income was $13.9 million, or $0.24 per share. The Company held $161.9 million in total cash at the end of the quarter, which increased by $19.8 million sequentially, and remains debt-free.
“We delivered solid fiscal second quarter results,” said Alan Lowe, president and CEO. “We continue to see strong demand for our 100G datacom products, especially, our first to volume QSFP28 2km products. During the fiscal second quarter 2016, our ROADM revenue grew 44% sequentially and 103% year-over-year as a result of our focus on innovation and the broad market adoption of our TrueFlex™ products. Bookings were strong during the fiscal second quarter and this strength has continued through the first month of the fiscal third quarter.”
Business Outlook
For the fiscal third quarter 2016, the Company expects net revenue to be in the range of $222 million to $232 million, non-GAAP operating margin to be 8.0% to 9.5%, and non-GAAP earnings per share to be $0.28 to $0.34 per share, based on approximately 61 million shares on a fully diluted basis. These estimates are based upon a fourteen week fiscal quarter as we will have fifty-three weeks for fiscal year 2016.
