Lumentum Holdings Inc. (NASDAQ: LITE) has posted positive results for its fourth quarter and full fiscal year 2021. Revenues at the company have reached record levels, and it expects to maintain growth in the future.
Lumentum’s fiscal year ended July 3, 2021, was one of the best in the company’s history, despite shortages in some supply chains. For the year, the company posted a record-breaking net revenue of $1.74 billion. The operating margin was 30% and GAAP earnings per share were $5.07.
The change in the accounting calculation method makes the comparison of indicators difficult. Through the $700 million buyback program, Lumentum Holdings Inc. (LITE) repurchased 3.1 million shares (4% of turnover) for $241 million. In the fourth quarter of 2020, cash and cash equivalents amounted to $1.94 billion, much more than $392 million.
An important signal was the conversion of Lumentum’s product portfolio to next-generation electronic components. Supply chain problems are expected to have an adverse effect on the next quarterly numbers; the company is expected to lose around $30 million. However, Lumentum Holdings Inc. (LITE) is likely to show revenue growth in the current quarter due to the increased demand for its products.
Lumentum Holdings Inc. (LITE) offers a wide range of solutions, including core components for communications technology, data centers, laser 3 D -skanerov, undersea fiber-optic communication lines, and so on.
At the trading on August 19, the LITE share cost $84.96. Over the last 12 months, shares of LITE have dropped by -2.02%. In the last week, they have risen by 7.39%. The stock has gained 7.18 % over the last three months, while it has lost 7.39% over the past six months.