Lumentum: Fiscal Q3 Earnings Snapshot

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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.


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The Associated Press