Lumentum Holdings (LITE) FY2021 results: revenue $1.7 billion, up 3.8% on the year
Lumentum Holdings Inc. (LITE) reported revenue of $1.7 billion for fiscal 2021, the year ended 3 July 2021, up 3.8% on the year before. Net income was $397 million, up 193.2%, and diluted earnings per share $5.07. The figures are the company's own, from the 10-K it filed with the SEC on 31 August 2021.
Revenue
$1.7 billion
+3.8% on the year
FY2014FY2021
Operating margin
30.2%
12.2% a year earlier
FY2014FY2021
Net income
$397 million
+193.2% on the year
FY2014FY2021
Diluted EPS
$5.07
+189.7% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
1,743
1,679
1,565
+3.8%
Cost of revenue
898
975
1,093
-7.9%
Gross profit
783
650
426
+20.4%
Gross margin
44.9%
38.7%
27.2%
Research and development
214
199
185
+8.0%
Selling, general and administrative
241
235
200
+2.6%
Operating income
527
204
-21.6
+158.2%
Operating margin
30.2%
12.2%
-1.4%
Interest expense
66.7
61.2
36.3
+9.0%
Pre-tax income
n/a
n/a
-33.3
Income tax
65.8
38.8
3.1
+69.6%
Net income
397
136
-36.4
+193.2%
Net margin
22.8%
8.1%
-2.3%
Diluted EPS
$5.07
$1.75
-$0.54
+189.7%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
739
524
330
+40.9%
Capital expenditure
84.8
86.0
166
-1.4%
Free cash flow
654
438
164
+49.2%
Free cash flow margin
37.5%
26.1%
10.5%
Cash from investing
1.0
-988
-780
Cash from financing
-263
329
485
Depreciation and amortisation
177
192
158
-7.7%
Share-based compensation
92.9
73.2
60.7
+26.9%
Buybacks
236
200
0.0
+18.0%
Dividends paid
0.0
0.0
0.7
Diluted shares, weighted
78m
78m
71m
+1.0%
Shares outstanding at period end
73m
75m
77m
-2.8%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,973
1,749
1,497
+12.8%
Redeemable equity
n/a
n/a
0.0
Debt
1,532
1,539
352
-0.4%
Operating lease liabilities
47.6
57.6
n/a
-17.4%
Other liabilities
n/a
n/a
868
Total liabilities and equity
3,552
3,293
2,717
+7.9%
Fixed assets
n/a
n/a
433
Goodwill
369
369
369
0.0%
Intangible assets
241
317
395
-23.9%
Investments
1,172
1,256
336
-6.7%
Cash and equivalents
774
298
433
+159.8%
Inventory
196
189
229
+4.0%
Other assets
799
864
522
-7.5%
Total assets
3,552
3,293
2,717
+7.9%
10-K for the year ended 3 July 2021, filed 31 August 2021: the filing.