Lumentum reported revenue of $370.8 million for its fiscal fourth quarter ended July 1, 2023, with GAAP net loss of $60.2 million, or $0.88 per diluted share. This compares with revenue of $422.1 million for the same period last year.
“With generational upgrades in the backbone of the network and increased customer activity for AI in the data center, we expect year-over-year Telecom and Datacom growth in calendar 2024,” said Alan Lowe, President and CEO. “Fourth quarter revenue and EPS results were above the midpoints of our guidance. We believe that the current customer inventory correction cycle will continue through the balance of the calendar year, and therefore, our shipments will be below end-market demand. During this transition period, we are delivering as planned on our product roadmaps and are tracking ahead of our previously announced synergy plans.”
Some highlight’s for Lumentum’s Telecom & Datacom segment
- Revenue up 2% Y/Y
- Demonstrated the industry’s first 800G ZR module technology
- AI applications driving increased demand for EML and CW lasers for 800G transceivers
- 200G-per-lane EML internal qualification completed
- ROADM revenue grew 30% Q/Q and 21% Y/Y, driven by new ROADM architectures
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