SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Lumentum Holdings Inc. (LITE) on Thursday reported a fiscal second-quarter loss of $31.7 million, after reporting a profit in the same period a year earlier.
The San Jose, California-based company said it had a loss of 46 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.52 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.
The optical networking products maker posted revenue of $506 million in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $506.1 million.
For the current quarter ending in March, Lumentum expects its per-share earnings to range from $1 to $1.15.
The company said it expects revenue in the range of $430 million to $460 million for the fiscal third quarter.
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