San Jose-based Lumentum Holdings Inc . (NASDAQ: NASDAQ:LITE), a manufacturer of optical networking products, reported a fiscal first-quarter loss of $67.9 million, or $1.02 per share, on Wednesday. However, after adjusting for one-time gains and costs, the company's earnings were 35 cents per share, surpassing the Zacks Investment Research analysts' average prediction of 27 cents.
In addition to exceeding earnings expectations, Lumentum also reported revenue that surpassed forecasts. The company's revenue for the fiscal first quarter stood at $317.6 million, outperforming the projected $314 million.
Looking ahead to the fiscal second quarter ending in December, Lumentum anticipates earnings to be in the range of 25 to 35 cents per share. The company also expects its revenue to be between $350 million and $380 million.
The financial information was produced by Automated Insights and featured in a Zacks stock report on LITE, copyrighted by The Associated Press.
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