Lumentum achieves record Q4
Lumentum, a manufacturer of optical and photonic products, has reported 'record' Q4 results with net revenue of $241.7 million and GAAP net income of 14.3 million, or $0.23 per diluted share.'
Net revenue for Q3 2016, which was a fourteen week quarter, was $230.4 million, with GAAP net loss of $(7.6) million, or $(0.13) per diluted share. Net revenue for Q4 2015 was $208.9 million, with GAAP net loss of $(15.8) million, or $(0.27) per diluted share.
"Fiscal fourth quarter results were driven by strong growth in newer products, combined with operating leverage," said Alan Lowe, president and CEO.
"We achieved record revenues that grew approximately 16 percent over the same period last year; our 100G Datacom revenue was up 40 percent sequentially and 241 percent year-over-year; TrueFlex ROADM revenue was up 21 percent sequentially, and 226 percent from last year; and, commercial Lasers was up 22 percent sequentially and 35 percent from last year.
He added: "The book-to-bill ratio was greater than one, as North America metro deployments begin to ramp, hyperscale datacentres ready themselves for the shift to 100G, customer demand for fibre lasers is strengthening, and demand in China remains robust,"
Non-GAAP net income for Q4 2016 was $25.4 million or $0.41 per diluted share. Non-GAAP net income for Q3 2016 was $19.7 million, or $0.32 per diluted share. Non-GAAP net income for Q4 2015 was $9.1 million, or $0.15 per diluted share. The company held $157.1 million in total cash at the end of Q4 2016, which decreased by $0.1 million sequentially, and the company remains debt-free.
For fiscal Year Ended July 2, 2016, net revenue was up 7.9 percent to $903 compared to $837.1 in 2015.
Business Outlook
For the fiscal first quarter 2017, Lumentum expects net revenue to be in the range of $245 million to $255 million, non-GAAP operating margin to be 11.0 percent to 12.5 percent, and non-GAAP diluted earnings per share to be $0.40 to $0.46 per share, based on approximately 62.5 million shares outstanding on a fully diluted basis.
