Nov 6, 2017: With revenue of Apple supplier Lumentum’s 3D sensing business making a massive ramp, it helped in the company’s overall performance. This was revealed in its financial results for the fiscal 1Q18 ended September 30.
The company’s 1Q18 net revenue stood at US$ 243.2 million, up 9.2 QoQ yet down 5.8% YoY, with a US$ 0.11 per diluted share. Its GAAP net income bounced back to US$ 7.1 million, compared to a net loss of US$ 54.9 million in 4Q17 and that of US$ 3.4 million in 1Q17.
The company’s optical communication segment contributed US$ 207.9 million, 85.5% of the overall number; while revenue of the laser segment took the other 14.5%. It came at US$ 35.3 million, sliding by 1.7% QoQ and 11.3% YoY.
Significant new orders for its 3D sensing products helped to rampup its 3D sensing revenue. It also made excellent progress on next generation design-ins at numerous customers with its VCSEL and edge-emitting lasers.
Lumentum received orders for 3D sensors totally worth US$ 300 million in April 2017 and has shipped its supply over the past few months.
Lumentum believes that 3D sensing products market will see a growth, hence it will have a positive impact on the company’s revenue. The company hebieves that it will see a significant hike in the revenue for the second quarter.
Lumentum concluded the report with a business outlook expecting the net revenue for 2Q18 to be in the range of USD 345 million to USD 375 million.