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Jul 03, 2021
Lumentum Q4 2021 Earnings Report
Lumentum reported strong demand for its products, resulting in a book-to-bill ratio of 1.2, but was negatively impacted by semiconductor component shortages.
Key Takeaways
Lumentum announced record fiscal year 2021 results, driven by strong demand. Q4 net revenue was $392.1 million with a GAAP diluted net income per share of $0.28. Component shortages are expected to negatively impact the next quarter's revenue.
Net revenue for the fiscal fourth quarter of 2021 was $392.1 million.
GAAP net income attributable to common stockholders was $21.5 million, or $0.28 per diluted share.
Using the prior method, non-GAAP net income for the fiscal fourth quarter of 2021 was $89.5 million, or $1.15 per diluted share.
The Company held $1,946.0 million in total cash, cash equivalents, and short-term investments at the end of the fiscal fourth quarter of 2021.
Forward Guidance
Lumentum expects net revenue in the range of $430 million to $445 million for the fiscal first quarter of 2022.
Positive Outlook
- Net revenue in the range of $430 million to $445 million
- Non-GAAP operating margin of 30.5% to 32.5%
- Non-GAAP diluted earnings per share of $1.47 to $1.61
- Strong demand for products
- Continuing shift in demand mix towards differentiated products
Challenges Ahead
- Shortages of critical semiconductor components
- First quarter revenue outlook negatively impacted by more than $30 million due to component shortages
- Highly volatile non-GAAP adjustments
- Low visibility as to the range that may be incurred in the future
- Uncertainty related to global markets
Historical Earnings Impact
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Avg. Return Before/After Earnings
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