Lumentum Insiders are in a Trading Frenzy after FY 2018 Results and Recent Merger


 
 
12:12 08/25/2018

In just the last week alone, Lumentum Holdings Inc. LITE , insiders have executed a mixed-plate of buying and selling.

The trades all come after recent developments involving the Company’s announcement of a merger with Oclaro, and the release of Lumentum’s LITE  fiscal fourth quarter and full year 2018 results.

On Aug. 8, 2018, Lumentum Holdings Inc. LITE  reported net revenue for the fiscal fourth quarter 2018 was $301.1 million, with GAAP net income attributable to common stockholders of $25.7 million, or $0.40 per diluted share. Net revenue for fiscal third quarter 2018 was $298.8 million, with GAAP net income attributable to common stockholders of $2.4 million, or $0.04 per diluted share. Net revenue for the fiscal fourth quarter 2017 was $222.7 million, with GAAP net loss attributable to common stockholders of $(55.2) million, or $(0.90) per diluted share.

"Record revenues in TrueFlex® ROADMs, commercial lasers, and industrial pump lasers drove strong fourth quarter results, capping off a record fiscal 2018 that saw 25% year over year growth and 19.7% operating margins," said Alan Lowe, President and CEO, "Our strategy of investing in differentiated products addressing multiple growing end-markets critically dependent on photonics drove our strong fiscal 2018 results and positions us well for the future.”

Last month, Oclaro, Inc. OCLR  announced that, based on the vote tally from Oclaro's Special Meeting of Stockholders, Oclaro's stockholders approved the merger agreement under which Lumentum Holdings Inc. LITE  will acquire Oclaro.  Stockholders also approved other proposals relating to the transaction.

Greg Dougherty, Oclaro CEO, commented, "Our stockholders voted overwhelmingly to approve the combination of Oclaro and Lumentum.  Together, we will be an even stronger player in fiber optic components and modules for high-speed communications and a market leader in 3D sensing. We are excited and optimistic about the opportunities this creates for all of our stakeholders, including stockholders, employees, customers and partners."

Lumentum (NASDAQ:LITE) LITE  is a market-leading manufacturer of innovative optical and photonic products enabling optical networking and commercial laser customers worldwide. Lumentum's optical components and subsystems are part of virtually every type of telecom, enterprise, and data center network. Lumentum's commercial lasers enable advanced manufacturing techniques and diverse applications including next-generation 3D sensing capabilities. Lumentum is headquartered in Milpitas, California with R&D, manufacturing, and sales offices worldwide.

Oclaro, Inc. (NASDAQ:OCLR) OCLR , is a leader in optical components and modules for the long-haul, metro and data center markets. Leveraging more than three decades of innovation in laser technology and photonics integration, Oclaro provides differentiated solutions for optical networks and high-speed interconnects driving the next wave of streaming video, cloud computing, application virtualization, and other bandwidth-intensive applications.


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