Lumentum reported net revenue of $404.6 million for its fiscal fourth quarter ended June 29, 2019, with GAAP net loss attributable to common stockholders of $(25.8) million, or $(0.34) per diluted share.
For comparison, net revenue for the preceding quarter was $432.9 million, with GAAP net loss of $(74.3) million, or $(0.98) per diluted share. A year ago, net revenue for the same period (fiscal fourth quarter of 2018) was $301.1 million, with GAAP net income of $25.7 million, or $0.40 per diluted share.
Optical communications revenue for the quarter was $356.8 billion, down 5.6% compared to the preceding quarter.
For the full fiscal year 2019, Lumentum reported net revenues of $1,565.3 million, with GAAP net loss attributable to common stockholders of $(37.9) million, or $(0.54) per diluted share.
“An eventful fourth quarter capped off an exciting fiscal 2019 during which we made significant progress against our strategic goals and achieved record results with revenue increasing 25% to more than $1.5 billion and operating margin expanding to more than 20%,” said Alan Lowe, President and CEO. “With market leading positions in the growing telecom and 3D sensing markets, a datacom strategy that profitably benefits from growth in cloud and 5G wireless network deployments, a commercial lasers business that bucked market trends and grew to record levels, and a more profitable business model driven by the increased scale and synergies from the Oclaro acquisition, we are well positioned for fiscal 2020 and beyond.”
Some highlights from Lumentum:
- Non-GAAP Operating Margin up 120 bps Q/Q on lower revenue
- Revenue declined 7% Q/Q to $404.6M
- Huawei sales declined 25% Q/Q primarily impacting telecom
- Lasers sales declined 13% Q/Q as expected due to customer inventory levels
- Datacom sales declined 28% Q/Q due to transceiver product line exits and divestiture
- Record datacom chip sales, which increased 11% Q/Q
- Record ROADM sales despite geopolitical disruption in the quarter
- Industrial & Consumer sales grew 13% Q/Q driven by growth in both industrial and 3D sensing
