MILPITAS, Calif. (AP) — Lumentum Holdings Inc. (LITE) on Wednesday reported fiscal third-quarter net income of $2.4 million, after reporting a loss in the same period a year earlier.
The Milpitas, California-based company said it had profit of 4 cents per share. Earnings, adjusted for one-time gains and costs, were 78 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The optical networking products maker posted revenue of $298.8 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $292.5 million.
For the current quarter ending in June, Lumentum expects its per-share earnings to range from 55 cents to 75 cents.
The company said it expects revenue in the range of $275 million to $300 million for the fiscal fourth quarter.
Lumentum shares have risen nearly 8 percent since the beginning of the year. The stock has risen 20 percent in the last 12 months.
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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