Lumentum beats Street 2Q forecasts
MILPITAS, Calif. (AP) _ Lumentum Holdings Inc. (LITE) on Tuesday reported fiscal second-quarter profit of $204.8 million.
On a per-share basis, the Milpitas, California-based company said it had profit of $3.17. Earnings, adjusted for one-time gains and costs, came to $1.67 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The optical networking products maker posted revenue of $404.6 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $357.3 million.
For the current quarter ending in April, Lumentum expects its per-share earnings to range from 65 cents to 80 cents.