Lumentum Holdings Inc (LITE) Q3 2019 10-Q Quarterly Earnings

Short answer

Lumentum Holdings Inc (LITE) filed its Q3 2019 10-Q quarterly report on Oct 31, 2019 for the quarter ended Sep 28, 2019.

AI summary of MD&A and risk factor updates

Revenue $449.9M, up 27.1% YoY from $354.1M, driven by Oclaro acquisition and Consumer and Industrial growth
Gross margin 37.3% vs 35.6% YoY; operating margin 13.3% vs 16.1%
OpComms best segment: revenue $416.1M, up 34.2%, gross margin 46.1% vs 40.3%; Lasers revenue $33.8M, down 23.2%
Cash $539.0M vs $432.6M; operating cash flow $87.5M, capital expenditures $21.7M
Near-term headwinds: Huawei demand decline, $6.7M excess inventory charges, Telecom and Datacom product-line exits, trade-policy risks

Newly triggered legal risk: Karri merger lawsuit amended April 15, 2019, adding Lumentum as a defendant
Regulatory risk: Malaysian GST audit resolved favorably, with remaining refunds expected in fiscal 2020 second quarter
Operational risk: Huawei demand decline generated $6.7 million in excess and obsolete inventory charges
Financial risk: $150.0 million term-loan prepayment on October 30, 2019, with approximately $2.5 million early-extinguishment loss
Concentration risk: Three customers collectively represented an undisclosed percentage of quarterly net revenue

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

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