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Mar 28, 2020
Lumentum Q3 2020 Earnings Report
Lumentum's financial results for Q3 2020 were announced.
Key Takeaways
Lumentum reported a net revenue of $402.8 million for the fiscal third quarter of 2020, with a GAAP net income of $43.4 million, or $0.56 per diluted share. The COVID-19 pandemic impacted revenue by more than $10 million higher than prior guidance.
Net revenue was $402.8 million.
GAAP operating margin was 10.6%; Non-GAAP operating margin was 25.0%.
GAAP diluted net income per share was $0.56; Non-GAAP diluted net income per share was $1.26.
COVID-19 revenue impact was more than $10 million higher than in prior guidance.
Forward Guidance
Lumentum expects net revenue in the range of $325 million to $365 million, Non-GAAP operating margin of 18% to 21% and Non-GAAP diluted earnings per share of $0.70 to $0.90 for the fiscal fourth quarter 2020. Estimated fourth quarter impact from COVID-19 is a reduction in revenue of more than $90 million and a reduction in non-GAAP diluted earnings per share of more than $0.50
Positive Outlook
- Net revenue in the range of $325 million to $365 million
- Non-GAAP operating margin of 18% to 21%
- Non-GAAP diluted earnings per share of $0.70 to $0.90
Challenges Ahead
- Estimated fourth quarter impact from COVID-19 is a reduction in revenue of more than $90 million
- Estimated fourth quarter impact from COVID-19 is a reduction in non-GAAP diluted earnings per share of more than $0.50
Historical Earnings Impact
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Avg. Return Before/After Earnings
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