MILPITAS, Calif. (AP) _ Lumentum Holdings Inc. (LITE) on Tuesday reported fiscal third-quarter net income of $43.4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Milpitas, California-based company said it had net income of 56 cents. Earnings, adjusted for one-time gains and costs, came to $1.26 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The optical networking products maker posted revenue of $402.8 million in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $413.4 million.
For the current quarter ending in June, Lumentum expects its per-share earnings to range from 70 cents to 90 cents.
The company said it expects revenue in the range of $325 million to $365 million for the fiscal fourth quarter.
Lumentum shares have fallen 1% since the beginning of the year. The stock has climbed 25% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LITE at https://www.zacks.com/ap/LITE
Automated Insights, source Associated Press News