Lumentum Holdings (LITE) FY2020 results: revenue $1.7 billion, up 7.2% on the year
Lumentum Holdings Inc. (LITE) reported revenue of $1.7 billion for fiscal 2020, the year ended 27 June 2020, up 7.2% on the year before. Net income was $136 million, and diluted earnings per share $1.75. The figures are the company's own, from the 10-K it filed with the SEC on 25 August 2020.
Revenue
$1.7 billion
+7.2% on the year
FY2013FY2020
Operating margin
12.2%
-1.4% a year earlier
FY2013FY2020
Net income
$136 million
FY2013FY2020
Diluted EPS
$1.75
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,679
1,565
1,248
+7.2%
Cost of revenue
975
1,093
812
-10.8%
Gross profit
650
426
432
+52.7%
Gross margin
38.7%
27.2%
34.6%
Research and development
199
185
157
+7.6%
Selling, general and administrative
235
200
128
+17.4%
Operating income
204
-21.6
140
Operating margin
12.2%
-1.4%
11.2%
Interest expense
61.2
36.3
18.2
+68.6%
Pre-tax income
n/a
-33.3
129
Income tax
38.8
3.1
-119
+1,151.6%
Effective tax rate
n/a
n/a
-91.7%
Net income
136
-36.4
248
Net margin
8.1%
-2.3%
19.9%
Diluted EPS
$1.75
-$0.54
$3.82
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
524
330
248
+58.8%
Capital expenditure
86.0
166
93.2
-48.2%
Free cash flow
438
164
154
+167.1%
Free cash flow margin
26.1%
10.5%
12.4%
Cash from investing
-988
-780
-127
Cash from financing
329
485
3.8
-32.2%
Depreciation and amortisation
192
158
77.2
+21.8%
Share-based compensation
73.2
60.7
46.8
+20.6%
Buybacks
200
0.0
0.0
Dividends paid
0.0
0.7
0.7
Diluted shares, weighted
78m
71m
63m
+9.8%
Shares outstanding at period end
75m
77m
63m
-2.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,749
1,497
926
+16.8%
Redeemable equity
n/a
0.0
35.8
Debt
1,539
352
457
+337.2%
Operating lease liabilities
57.6
n/a
n/a
Other liabilities
n/a
868
163
Total liabilities and equity
3,293
2,717
1,582
+21.2%
Fixed assets
n/a
433
307
Goodwill
369
369
11.3
0.0%
Intangible assets
317
395
7.0
-19.9%
Investments
1,256
336
314
+273.9%
Cash and equivalents
298
433
397
-31.1%
Receivables
n/a
n/a
197
Inventory
189
229
174
-17.4%
Other assets
864
522
174
+65.7%
Total assets
3,293
2,717
1,582
+21.2%
10-K for the year ended 27 June 2020, filed 25 August 2020: the filing.