Lumentum Holdings Inc (LITE) Q3 2018 10-Q Quarterly Earnings

Short answer

Lumentum Holdings Inc (LITE) filed its Q3 2018 10-Q quarterly report on Nov 1, 2018 for the quarter ended Sep 29, 2018.

AI summary of MD&A and risk factor updates

Revenue $354.1M, up 45.6% YoY from $243.2M, driven by 3D sensing, Telecom and Lasers
Gross margin 35.6% vs 28.2% YoY, operating margin 16.1% vs 1.2%
Best segment OpComms revenue $310.1M, up 49.2%; worst growth Lasers revenue $44.0M, up 24.6%
Cash $459.4M vs $397.3M, operating cash flow $57.2M, capital expenditures $29.6M
Oclaro acquisition expected by December 11, 2018, consideration $1.6B funded with $600M stock and $500M debt

Newly triggered regulatory risk: Oclaro merger awaiting China antitrust approval, with an $80 million termination fee if approvals fail by March 11, 2019
Most material operational update: manufacturing transition from China to Thailand and other contractors, including $12.7 million of Thailand setup and transfer costs
Competitive and market risk: Consumer and Industrial revenue reached $133.0 million, increasing exposure to 3D-sensing demand and customer program changes
Financial risk: $450 million convertible notes mature March 15, 2024, with $451.2 million of payments thereafter
Supply-chain concentration: three contract manufacturers represented 51.5% and 25.1% of net inventory purchases, respectively

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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