Lumentum +11.7% on beat, solid current-quarter guidance

|About: Lumentum Holdings Inc. (LITE)|By:, SA News Editor

Lumentum (NASDAQ:LITE) is up 11.7% premarket after its Q3 earnings topped expectations and contained solid guidance for the current quarter.

Revenues were off 26% from the prior quarter but up 17% Y/Y, and gross margin rose 190 basis points Y/Y to hit 36.3% on a non-GAAP basis.

Operating margin was up to 16.5% from 12.6%.

Net income rose to $50.6M on a non-GAAP basis from $30.8M.

Revenue by segment: Optical Communications, $246.3M (up 14%); Lasers, $52.5M (up 32.2%).

Cash and short-term investments came to $692.8M.

The company's guiding to Q4 revenue of $275M-$300M and EPS of $0.55-$0.75, with the midpoints above Street expectations.

It says it's continuing to work with Oclaro (NASDAQ:OCLR) on closing its acquisition. Oclaro is up 6.9% premarket.

Press release

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