Lumentum Holdings Inc (NASDAQ:LITE) posted report for its fiscal second quarter closed December 30, 2017. Net revenue came at $404.6 million, while GAAP net income was $204.8 million. In Q1 2018, net revenue was $243.2 million, while GAAP net income stood at $7.1 million. The company reported that net revenue for the fiscal Q2 2017 stood at $265 million, while GAAP net income came at $11.8 million.
Lumentum reported that Non-GAAP net income came at $107.8 million for the fiscal Q2 2018. Non-GAAP net income was $27.8 million for fiscal Q1 2018. Also, Non-GAAP net income was $35.9 million for the fiscal Q2 2017. The firm held total short-term investments and cash of $624.5 million at the close of the fiscal Q2 2018.
Alan Lowe, the CEO and President, expressed that they achieved record profitability and revenue and exceeded their projection for the second quarter led by strong execution and demand in their 3D sensing, ROADM, telecom and industrial pump laser businesses. Their performance exhibits the power of company’s proprietary capabilities, which use several years of experience across several end markets. Their proven capabilities place them well for the imminent period as demand for their ROADMs and industrial lasers is strengthening, and 3D sensing prospects are broadening to more consumers and end markets.
Lumentum anticipates net revenue to come in the range of $280 million – $305 million for the fiscal Q3 2018. Non-GAAP Operating margin guidance came in the range of 15.5% to 18%. Non-GAAP diluted earnings projections stood at $0.65 to $0.80 per share. Earnings per share dependent on around 65 million shares due on a fully diluted basis. Their estimate of 65 million stock outstanding does not comprise the possibly dilutive impact of the convertible notes, as they possess the intent and ability to close the face value in cash; and hence, they use the treasury stock process for computing the dilutive effect of the 2024 Notes.