SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Lumentum Holdings Inc. (LITE) on Tuesday reported fiscal first-quarter net income of $4.2 million.
The San Jose, California-based company said it had profit of 5 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.10 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The optical networking products maker posted revenue of $533.8 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $526.3 million.
For the current quarter ending in December, Lumentum expects its per-share earnings to range from $1.30 to $1.50.
The company said it expects revenue in the range of $630 million to $670 million for the fiscal second quarter.
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