SAN JOSE, Calif. (AP) _ Lumentum Holdings Inc. (LITE) on Wednesday reported fiscal third-quarter profit of $225.5 million.
The San Jose, California-based company said it had net income of $2.85 per share. Earnings, adjusted for one-time gains and costs, came to $1.40 per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.
The optical networking products maker posted revenue of $419.5 million in the period, which also fell short of Street forecasts. Six analysts surveyed by Zacks expected $434.6 million.
For the current quarter ending in June, Lumentum expects its per-share earnings to range from 92 cents to $1.14.
The company said it expects revenue in the range of $360 million to $400 million for the fiscal fourth quarter.
Lumentum shares have fallen 13% since the beginning of the year. The stock has increased nearly 2% in the last 12 months.
The Associated Press