Lumentum reported net revenue for its fiscal first quarter of 2023 of $506.8 million, with GAAP net loss of $0.4 million, or $0.01 loss per diluted share. Net revenue for the fiscal fourth quarter of 2022 was $422.1 million, with GAAP net income of $34.7 million, or $0.49 per diluted share. Net revenue for the fiscal first quarter of 2022 was $448.4 million, with GAAP net income of $81.5 million, or $1.08 per diluted share.
Non-GAAP net income for the fiscal first quarter of 2023 was $119.2 million, or $1.69 per diluted share.
"Solid execution drove first quarter revenue above the midpoint of our guidance, earnings per share to the high end of our range, and operating margin above guidance," said Alan Lowe, President and CEO.
"Demand is robust from our Telecom and Industrial Lasers customers. Looking forward, and consistent with industry trends, supply of specific IC components has not materialized as quickly as expected, and we now expect these shortages to continue into our fiscal 2024. Also, our near-term Datacom and 3D sensing outlook is lower than our prior projections."
- In August 2022, Lumentum completed its merger with NeoPhotonics and the acquisition of IPG Photonics' telecom transmission product lines for an aggregate purchase price consideration of $990.3 million.
