For the fourth quarter of fiscal 2022, Lumentum (NASDAQ:LITE) reported non-GAAP earnings of $1.47 per share, which was 8.89% over the Zacks Consensus Estimate and 28% above the fourth quarter of the prior fiscal year.
The quarterly total of $422.1 million was up 7.7% over the same period previous fiscal year and was 0.7% higher than the estimate. Commercial lasers saw a significant uptick in sales, which boosted revenue. But development stagnated as the optical communications market experienced stagnant growth.
Lumentum’s Quarterly Breakdown
Telecom and datacom business Lumentum (NASDAQ:LITE) revenues climbed 10% year over year to $282.1 million in Lumentum’s fiscal fourth quarter, driving growth in optical communications revenues (87.9% of total revenues) by 4.4% year over year. However, declines in the economy’s industrial and consumer business portion accounted for 10.1% of the slowdown in growth compared to the same period a year ago.
Strong demand for fiber, ultrafast, solid-state, and gas lasers increased commercial lasers sales by $51.2 million (12.1% of total revenues) compared to the same period last fiscal year.
Non-GAAP gross margin for Lumentum’s (NASDAQ:LITE) fiscal fourth quarter was 50.4%, up 270 basis points from the same period a year ago. This increase was due primarily to more significant revenues.
With a total of $91.1 million, operational expenses were down 150 basis points in the quarter, accounting for 21.6% of sales.
For the fiscal fourth quarter, the non-GAAP operating margin was 28.8%, up 420 basis points from the same period last year.
Lumentum (NASDAQ:LITE) adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) came in at $142 million, up $20.9 million from last fiscal year.
Cash Flow Statement and Balance Sheet
On June 30, 2022, Lumentum (NASDAQ:LITE) reported $2.55 billion in cash and short-term investments, down from $2.56 billion on March 31, 2022.
Lumentum’s (NASDAQ:LITE) cash flow from operations increased to $114.3 million in the fiscal fourth quarter from $76.6 million in the fiscal third.
Guidance
Lumentum (NASDAQ:LITE) anticipates net revenues between $490 and $520 million for the first quarter of fiscal 2023.
They anticipate a non-GAAP operating margin of 25%-27%.
A share of non-GAAP profit between $1.45 and $1.70 is anticipated.
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Author Shariq Khan 
