Lumentum Posts Record Quarterly Revenue
Gross margin, operating margin, and earnings per share; all exceed high-end of guidance
Lumentum has reported results for Q2 ended December 30, 2017, with record revenue and profitability..
Net revenue for Q2 2018 was $404.6 million, with GAAP net income of $204.8 million, or $3.17 per diluted share. Net revenue for Q1 2018 was $243.2 million, with GAAP net income of $7.1 million, or $0.11 per diluted share. Net revenue for Q2 2017 was $265.0 million, with GAAP net income of $11.8 million, or $0.19 per diluted share.
Non-GAAP net income for Q2 2018 was $107.8 million, or $1.67 per diluted share. Non-GAAP net income for Q1 2018 was $27.8 million, or $0.43 per diluted share. Non-GAAP net income for Q2 2017 was $35.9 million, or $0.57 per diluted share. The company held $624.5 million in total cash and short-term investments at the end of the fiscal second quarter of 2018.
"We achieved record revenue and profitability and exceeded our guidance for the second quarter driven by strong demand and execution in our 3D sensing, ROADM, industrial and telecom pump laser businesses. Our performance demonstrates the power of Lumentum's proprietary capabilities, which leverage many years of experience across multiple end markets," said Alan Lowe, president and CEO.
"Our proven capabilities position us well for the future as demand for our industrial lasers and ROADMs is strengthening, and 3D sensing opportunities are broadening to more customers and end markets."
Lumentum 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 percent to 18.0 percent; non-GAAP diluted earnings per share of $0.65 to $0.80;