Lumentum reports a record quarter, sales rise to $404.6 million

Lumentum reported record net revenue for the fiscal second quarter of 2018 was $404.6 million, with GAAP net income of $204.8 million, or $3.17 per diluted share.  Net revenue for fiscal first quarter of 2018 was $243.2 million, with GAAP net income of $7.1 million, or $0.11 per diluted share. For comparison, net revenue for the fiscal second quarter of 2017 was $265.0 million, with GAAP net income of $11.8 million, or $0.19 per diluted share.

Non-GAAP net income for the fiscal second quarter of 2018 was $107.8 million, or $1.67 per diluted share. Non-GAAP net income for fiscal first quarter of 2018 was $27.8 million, or $0.43 per diluted share.
"We achieved record revenue and profitability and exceeded our guidance for the second quarter driven by strong demand and execution in our 3D sensing, ROADM, industrial and telecom pump laser businesses. Our performance demonstrates the power of Lumentum's proprietary capabilities, which leverage many years of experience across multiple end markets," said Alan Lowe, President and CEO. "Our proven capabilities position us well for the future as demand for our industrial lasers and ROADMs is strengthening, and 3D sensing opportunities are broadening to more customers and end markets."