Q4 2024 Lumentum Holdings Inc Earnings Call Transcript
Key Points
- Lumentum Holdings Inc (LITE) exceeded the midpoint of their guidance for both revenue and EPS for the fourth quarter.
- The company booked record orders for datacom chips used in data center applications.
- Significant progress was made in executing their strategy to grow their cloud business and broaden their customer base.
- Lumentum Holdings Inc (LITE) is emerging as a leading provider of photonic solutions for cloud data center operators and AI infrastructure providers.
- The company achieved record volume shipments of EMLs and secured substantial bookings for fiscal 2025.
- Fourth-quarter revenue of $308.3 million and non-GAAP EPS of $0.06 were above the midpoint of guidance ranges but still reflect a challenging market environment.
- GAAP gross margin for the fourth quarter was only 16.6%, and GAAP operating loss was 43.3%.
- The company recorded a GAAP diluted net loss per share of $3.72, driven by restructuring charges, amortization of acquired intangibles, and a valuation allowance related to certain tax assets.
- The industrial tech segment revenue declined 36% year over year, reflecting weak end-market demand and high levels of customer inventory.
- The company faces a broad shortage of indium phosphide lasers, with production output expected to remain on allocation through at least the end of calendar 2025.
Good day, everyone, and welcome to the Lumentum Holdings fourth-quarter fiscal year 2024 earnings call. (Operator instructions) Please also note today's event is being recorded for replay purposes. (Operator Instructions)
At this time, I would like to turn the conference call over to Kathy Ta, Vice President of Investor Relations. Ms. Ta, please go ahead.
Thank you, and welcome to the Lumentum's fiscal fourth-quarter and full-year 2024 earnings call. This is Kathy Ta, Lumentum's Vice President of Investor Relations. Joining me today are Alan Lowe, President and Chief Executive Officer; Wajid Ali, Executive Vice President and Chief Financial Officer; Officer, Chris Coldren, Senior Vice President and Chief Strategy and Corporate Development Officer.
Today's call will include forward-looking statements, including statements regarding our strategies, trends and expectations for our products and technologies, including demand; our customers; our end markets; end-market
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