Lumentum Holdings (LITE) FY2019 results: revenue $1.6 billion, up 25.5% on the year
Lumentum Holdings Inc. (LITE) reported revenue of $1.6 billion for fiscal 2019, the year ended 29 June 2019, up 25.5% on the year before. Net income was -$36 million, and diluted earnings per share $-0.54. The figures are the company's own, from the 10-K it filed with the SEC on 27 August 2019.
Revenue
$1.6 billion
+25.5% on the year
FY2013FY2019
Operating margin
-1.4%
11.2% a year earlier
FY2013FY2019
Net income
-$36 million
FY2013FY2019
Diluted EPS
-$0.54
FY2013FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,565
1,248
1,002
+25.5%
Cost of revenue
1,093
812
677
+34.5%
Gross profit
426
432
318
-1.4%
Gross margin
27.2%
34.6%
31.8%
Research and development
185
157
148
+17.7%
Selling, general and administrative
200
128
110
+56.2%
Operating income
-21.6
140
47.6
Operating margin
-1.4%
11.2%
4.8%
Interest expense
36.3
18.2
5.5
+99.5%
Pre-tax income
-33.3
129
-59.8
Income tax
3.1
-119
42.7
Effective tax rate
n/a
-91.7%
n/a
Net income
-36.4
248
-102
Net margin
-2.3%
19.9%
-10.2%
Diluted EPS
-$0.54
$3.82
-$1.71
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
330
248
85.0
+33.4%
Capital expenditure
166
93.2
138
+78.1%
Free cash flow
164
154
-53.1
+6.4%
Free cash flow margin
10.5%
12.4%
-5.3%
Cash from investing
-780
-127
-426
Cash from financing
485
3.8
457
+12,665.8%
Depreciation and amortisation
158
77.2
61.0
+104.0%
Share-based compensation
60.7
46.8
32.7
+29.7%
Buybacks
0.0
0.0
n/a
Dividends paid
0.7
0.7
0.9
0.0%
Diluted shares, weighted
71m
63m
61m
+11.7%
Shares outstanding at period end
77m
63m
61m
+22.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,497
926
619
+61.7%
Redeemable equity
0.0
35.8
35.8
Debt
352
457
457
-22.9%
Other liabilities
868
163
121
+432.6%
Total liabilities and equity
2,717
1,582
1,233
+71.8%
Fixed assets
433
307
274
+41.2%
Goodwill
369
11.3
11.4
+3,164.6%
Intangible assets
395
7.0
10.1
+5,548.6%
Investments
336
314
282
+6.9%
Cash and equivalents
433
397
273
+8.9%
Receivables
n/a
197
166
Inventory
229
174
145
+31.4%
Other assets
522
174
71.1
+200.5%
Total assets
2,717
1,582
1,233
+71.8%
10-K for the year ended 29 June 2019, filed 27 August 2019: the filing.