8-KRegulation FDExhibits & Filings

Lumentum Holdings Inc. 8-K Report, Regulation FD Disclosure (Aug 11, 2015)

Filed August 11, 2015For Securities:LITE

Summary

Lumentum Holdings Inc. (LITE) filed an 8-K on August 11, 2015, to disclose its business outlook for the fiscal first quarter of 2016 and discuss business trends during a previously announced conference call. This filing is particularly relevant as it marks the company's initial public disclosure of forward-looking financial guidance post-separation from JDS Uniphase (JDSU). The company provided guidance on non-GAAP net revenue and non-GAAP segment operating margin. Notably, the non-GAAP segment operating margin was presented as if Lumentum had remained a business segment of JDSU, aiming to provide investors with a comparable view of operational performance against pre-separation periods. The rationale behind using non-GAAP measures is to better reflect the company's core operating performance by excluding items such as amortization of acquisition-related intangibles, stock-based compensation, restructuring, separation, and transition costs. Investors should note that these non-GAAP measures are supplemental and not a substitute for GAAP reporting.

Key Highlights

  • 1Lumentum provided its business outlook for fiscal Q1 2016 via an 8-K filing.
  • 2The company is providing guidance on non-GAAP net revenue for the upcoming quarter.
  • 3Non-GAAP segment operating margin is also being provided, with historical context as if Lumentum were still part of JDSU.
  • 4Non-GAAP measures are used to reflect core operating performance, excluding items like amortization, stock-based compensation, and separation costs.
  • 5The company aims to allow investors to evaluate performance through management's eyes and compare to prior periods.
  • 6The information is furnished and not deemed 'filed' for purposes of Section 18 of the Exchange Act.
  • 7The filing includes Exhibit 99.1, a press release detailing the outlook.

Frequently Asked Questions

The primary purpose of this 8-K filing is to disclose Lumentum Holdings Inc.'s business outlook for its fiscal first quarter of 2016 and to provide commentary on business trends. This information was discussed during a previously announced conference call and is being shared with investors.

Lumentum is providing guidance on non-GAAP net revenue and non-GAAP segment operating margin. They are presenting non-GAAP segment operating margin with a comparative view to pre-separation periods as if the company had remained a segment of JDS Uniphase.

Lumentum is using non-GAAP financial measures to provide a clearer view of its core operating performance. These measures exclude items that management believes are not reflective of ordinary, ongoing, and customary operations, such as amortization of acquisition-related intangibles, stock-based compensation, restructuring, separation and transition costs, and certain investing expenses.

No, the non-GAAP financial measures provided in this filing are not in accordance with, or an alternative for, Generally Accepted Accounting Principles (GAAP) in the United States. They are intended as supplemental information to help investors evaluate financial performance.