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Sep 30, 2023
Lumentum Q1 2024 Earnings Report
Lumentum's Q1 2024 financial results were announced, with revenue and EPS exceeding guidance midpoints.
Key Takeaways
Lumentum reported a net revenue of $317.6 million for the fiscal first quarter of 2024. The company's GAAP net loss was $67.9 million, or $1.02 per diluted share, while non-GAAP net income was $23.4 million, or $0.35 per diluted share. The company is maintaining tight cost controls and delivering on product roadmaps and synergy attainment.
Net revenue for the fiscal first quarter of 2024 was $317.6 million.
GAAP net loss was $67.9 million, or $1.02 per diluted share.
Non-GAAP net income was $23.4 million, or $0.35 per diluted share.
The company held $1,944.3 million in total cash, cash equivalents, and short-term investments at the end of the fiscal first quarter of 2024.
Forward Guidance
Lumentum expects net revenue in the range of $350 million to $380 million for the fiscal second quarter 2024. Non-GAAP operating margin is expected to be 2.0% to 4.0%, and non-GAAP diluted earnings per share are expected to be $0.25 to $0.35.
Positive Outlook
- Net revenue in the range of $350 million to $380 million
- Non-GAAP operating margin of 2.0% to 4.0%
- Non-GAAP diluted earnings per share of $0.25 to $0.35
Historical Earnings Impact
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Avg. Return Before/After Earnings
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