Lumentum reports record revenue, strength in telecom and lasers
Lumentum Holdings reported net revenue for its fiscal second quarter of 2021 of $478.8 million, with GAAP net income of $83.2 million, or $1.06 per diluted share. Net revenue for the fiscal first quarter of 2021 was $452.4 million, with GAAP net income of $67.1 million, or $0.86 per diluted share. Net revenue for the fiscal second quarter of 2020 was $457.8 million, with GAAP net income of $49.1 million, or $0.63 per diluted share.
“Combining the positive momentum from the prior quarter, with strengthened demand in Telecom and Lasers, we achieved new record revenue and non-GAAP gross margin, operating margin, and earnings per share in the second quarter,” said Alan Lowe, President and CEO. “We are well positioned to grow revenue and earnings into the future. We have developed a broad portfolio of new products that address upcoming growth catalysts, completed our exit of low margin product lines that would have been a headwind to future growth, and lowered our fixed costs to enable stronger operating leverage and profitability as we grow.”
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