Lumentum Holdings Inc. - LITE STOCK NEWS

Lumentum Holdings has received recognition for its 200G PAM4 externally-modulated lasers (EMLs) in the 2023 Lightwave Innovation Reviews, scoring 4.5 out of 5 in the optical components category. This marks the second industry acknowledgment for these EMLs, following an award from the European Conference on Optical Communication in 2022. The lasers are designed to help hyperscale data center operators scale up to 800G and 1.6T data rates. According to Nicolas Herriau, the team at Lumentum has significantly advanced performance and quality in the optical communications sector, further cements Lumentum's status as a leading innovator in optical and photonic products.

Lumentum Holdings reported strong fiscal Q2 2023 results, with net revenue of $506.0 million, a 13.3% increase year-over-year. The company achieved a GAAP gross margin of 32.8% and a non-GAAP gross margin of 44.9%. Despite a GAAP operating loss of $4.3 million, non-GAAP operating margin stood at 23.1%. Non-GAAP diluted earnings per share were $1.52, exceeding guidance. The company holds total cash and equivalents of $1,680.4 million, up $55.5 million from the previous quarter. For fiscal Q3 2023, Lumentum expects revenue between $430 million and $460 million and a non-GAAP operating margin of 17% to 19%.

Lumentum Holdings Inc. (NASDAQ: LITE) will host its LITE 2023: Lumentum Investor Technology Event during the 2023 Optical Fiber Communication Conference and Exhibition (OFC). Scheduled for March 7, 2023, from 7:00 – 9:45 a.m. Pacific Time, the event will take place at the Hard Rock Hotel San Diego, in the Celebrate Ballroom. Participants are encouraged to register online. A live webcast and presentation deck will also be available at Lumentum's investor website.

Lumentum Holdings Inc. (LITE) announced its fiscal second quarter 2023 financial results will be released on February 9, 2023, before market opens.

A conference call is scheduled for the same day at 5:30 a.m. PT/8:30 a.m. ET, with a live webcast available on the company's website.

Participants are encouraged to pre-register to receive unique dial-in information. A replay of the call will be accessible via telephone starting from February 9, 2023, through February 16, 2023.

For more information, visit the investor relations page.

Lumentum Holdings has appointed Caroline Pan as its new Senior Vice President and Chief Marketing Officer, effective immediately. She will report to Alan Lowe, the company's President and CEO, and will oversee strategic marketing, corporate communications, and Lumentum Ventures. Pan brings nearly 30 years of diverse experience from companies like Bright Machines and Honeywell. Her role aims to drive market expansion and innovation at a critical point in Lumentum's growth.

Lumentum Holdings announced its participation in three upcoming investor events on December 6 and 8, 2022. The events include the Raymond James Technology Investors Conference at 11:30 a.m. ET, and the Nasdaq 47th Investor Conference at 10:30 a.m. ET, both on December 6. Additionally, the Barclays Global Technology Conference is scheduled for December 8 at 5:30 p.m. ET. Investors can access the webcasts through provided links. Lumentum, traded as LITE, specializes in optical and photonic products for various networking and manufacturing applications.

Lumentum reported net revenue of $506.8 million for the fiscal first quarter ending October 1, 2022, a 20.1% increase from the prior quarter. The GAAP gross margin decreased to 39.7%, with a GAAP net loss of $0.4 million, translating to a loss of $0.01 per diluted share. Non-GAAP diluted earnings per share reached $1.69. Despite strong demand from telecom and industrial sectors, supply shortages are anticipated to persist into fiscal 2024, impacting the Datacom and 3D sensing outlook. The company holds $1.6 billion in cash, following two significant acquisitions.

Lumentum Holdings will release its fiscal first quarter 2023 financial results on November 8, 2022, before market opening. A conference call will follow at 5:30 a.m. PT where investors can access updates via telephone or webcast. The earnings press release will be available on their website under "Financial News Releases." Lumentum, traded under the ticker LITE, specializes in optical and photonic products for telecommunications and manufacturing.