Summary
Lumentum Holdings Inc. (LITE) has filed its 10-K Annual Report for the fiscal year ended September 29, 2015, detailing its financial performance and strategic positioning as a newly independent public company. The company, which was spun off from JDS Uniphase (now Viavi Solutions), operates in two primary segments: Optical Communications (OpComms) and Commercial Lasers. For the fiscal year 2015, Lumentum reported a net revenue of $837.1 million, a slight increase from the previous year, driven by growth in its Lasers segment. However, the company experienced a net loss of $3.4 million, a shift from the prior year's net income of $10.7 million. Key highlights include the successful separation from Viavi and commencement of independent trading on NASDAQ. The company is focused on investing in R&D to drive future growth, particularly in emerging markets like 3D sensing. While the OpComms segment saw a slight dip in revenue, the Lasers segment showed robust growth. Lumentum currently has no plans to pay dividends, intending to reinvest earnings back into the business to support growth initiatives. The company's financial position as of June 27, 2015, shows $14.5 million in cash and cash equivalents, with a working capital of $188.6 million. Investors should note the company's reliance on key customers and the potential for stock price volatility due to factors such as share sales by Viavi and market conditions.
Financial Highlights
49 data points| Revenue | $837.10M |
| Cost of Revenue | $571.60M |
| Gross Profit | $257.90M |
| R&D Expenses | $140.80M |
| SG&A Expenses | $128.90M |
| Operating Expenses | $281.30M |
| Operating Income | -$23.40M |
| Interest Expense | $700K |
| Net Income | -$3.40M |
| EPS (Basic) | $-0.06 |
| EPS (Diluted) | $-0.06 |
| Shares Outstanding (Basic) | 58.80M |
| Shares Outstanding (Diluted) | 58.80M |
Key Highlights
- 1Lumentum Holdings Inc. completed its separation from JDS Uniphase (now Viavi Solutions) and began trading as an independent public company on NASDAQ under the ticker 'LITE' on August 4, 2015.
- 2For fiscal year 2015, the company reported net revenue of $837.1 million, a 2.3% increase year-over-year, primarily driven by its Commercial Lasers segment.
- 3The company reported a net loss of $3.4 million for fiscal year 2015, compared to a net income of $10.7 million in fiscal year 2014.
- 4Lumentum operates in two reportable segments: Optical Communications (OpComms), which accounted for 82.9% of net revenue, and Commercial Lasers, accounting for 17.1%.
- 5The company has no current plans to pay dividends and intends to retain future earnings to fund business development and growth.
- 6As of June 27, 2015, Lumentum had $14.5 million in cash and cash equivalents and $188.6 million in working capital.
- 7The company disclosed a significant portion of its revenue comes from a few key customers, including Ciena and Cisco, indicating customer concentration risk.