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Lumentum Holdings Inc. develops and manufactures optical and photonic products for AI and cloud data-center connectivity, telecom networks, industrial manufacturing, sensing and life-science uses. Its recurring news includes quarterly financial results, product demonstrations for scale-out, scale-up and scale-across optical infrastructure, and updates on lasers, modules, transceivers, optical subsystems and indium phosphide devices.
Company announcements also cover investor conferences, index-related milestones, and capacity or customer developments tied to high-speed data-center and networking demand. The business is commonly reported through its Optical Communications and Commercial Lasers activities, including components for access, metro, long-haul and submarine network applications.
Lumentum Holdings has announced its participation in several upcoming virtual investor events scheduled for late November and December 2021. Key events include the Nasdaq 45th London Investor Conference on November 30 at 12:30 p.m. ET, the Raymond James 2021 Technology Investors Conference on December 6 at 9:40 a.m. ET, and the Barclays Global Technology Conference on December 7 at 9:10 a.m. ET. Additionally, Lumentum will be available at the D.A. Davidson Semicap, Laser & Optical Conference on December 15 from 9:00 a.m. to 1:45 p.m. ET. Webcasts will be accessible on their investor relations website.
Lumentum, a leading provider of VCSEL arrays, announced the expansion of its offerings with high-performance 1D and 2D addressable arrays aimed at LiDAR and 3D sensing applications. These arrays enhance optical power density and efficiency, essential for longer-range applications like autonomous vehicles. The new technology, expected to launch in Q4 2022, eliminates mechanical beam scanning, paving the way for innovative solutions in various industries.
Lumentum Holdings announced participation in two upcoming virtual investor events. The first is the Needham Virtual Security, Networking, & Communications Conference on November 16, 2021, where they will present at 10:15 a.m. Eastern Time. The second is the Virtual Best Ideas Conference by MKM Partners on November 17, 2021, with a presentation at 9:50 a.m. Eastern Time. Webcasts for both events will be available on the investor relations section of their website.
Lumentum Holdings reported fiscal Q1 2022 results, with net revenue of $448.4 million, up 14.4% from Q4 2021 but down 0.9% year-over-year. GAAP net income was $81.5 million or $1.08 per diluted share. The company's cash reserves decreased by $61.4 million to $1,884.6 million. Lumentum expects Q2 2022 revenue between $435 million and $455 million. Despite strong demand particularly in Telecom, a semiconductor shortage may impact supply levels more significantly in the upcoming quarter.
Lumentum Holdings (NASDAQ: LITE) has announced its acquisition of NeoPhotonics (NYSE: NPTN) for $16.00 per share in cash, totaling approximately $918 million. This strategic acquisition aims to enhance Lumentum's capabilities within the rapidly expanding $10 billion optical components market, particularly for cloud and telecom networks. The deal, which provides a 39% premium over NeoPhotonics' stock price on November 3, 2021, is expected to yield over $50 million in annual run-rate synergies within 24 months and immediately boost non-GAAP earnings per share upon closing.
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Lumentum Holdings has announced the industry's first 10 W flood illuminator module featuring a high-performance three-junction VCSEL array for both consumer and industrial 3D sensing applications. This advanced module enhances performance for applications including mobile biometric security and AIoT technologies. With capabilities that surpass single-junction designs, it offers improved efficiency and eye safety. Lumentum's new product is available in various fields of illumination and is designed for easy integration with existing sensors.
Lumentum Holdings will release its fiscal first quarter 2022 financial results for the period ended October 2, 2021, on November 4, 2021, before the market opens. A conference call is scheduled for the same day at 5:30 a.m. PT. Participants can access the call via telephone or through a live webcast. The earnings press release will be available on the company’s investor website, alongside additional supporting materials. Lumentum, traded under NASDAQ: LITE, specializes in optical and photonic products for networking and laser applications.
Lumentum Holdings Inc. announced that Ralph Loura, Senior VP and CIO, received the Bay Area CIO of the Year ORBIE award for Leadership. This recognition acknowledges Loura's role in transforming Lumentum's IT landscape and enhancing business operations during the pandemic. The award, facilitated by InspireCIO, highlights technology leaders who create value for their organizations. Loura expressed gratitude to his team for their resilience and adaptability in maintaining connectivity during challenging times.
Lumentum Holdings Inc. announced the creation of the SmartTuning Multi-Source Agreement (MSA) group aimed at standardizing a self-tuning feature for dense wavelength division multiplexing (DWDM) optical transceivers. This initiative is poised to enhance interoperability among vendors, crucial for the scaling of 5G mobile networks. The self-tuning capabilities promise cost-effective, automated solutions, reducing operational costs for service providers. This innovation simplifies inventory management and network installation, facilitating the growth of 5G network infrastructure.