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By Ben Glickman
Lumentum Holdings issued fiscal first quarter guidance below analysts’ estimates as the company anticipates inventory corrections to continue.
The San Jose, Calif.-based optical telecommunications products maker expects revenue of $300 million to $325 million in the three months ending Oct. 1, compared with the $368.5 million forecast by analysts polled by FactSet.
The company anticipates adjusted earnings per share of 20 cents to 35 cents.
Lumentum’s results have been weighed down in recent quarters by customers working through inventory. Chief Executive Alan Lowe said Thursday that he expected these inventory corrections to continue until the end of the calendar year.
Write to Ben Glickman at [email protected]
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