Lumentum Holdings Inc. (NASDAQ:LITE) Q4 2019 Earnings Conference Call - Final Transcript

Aug 08, 2019 • 08:30 am ET


Lumentum Holdings Inc. (NASDAQ:LITE) Q4 2019 Earnings Conference Call - Final Transcript


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Good day, everyone, and welcome to the Lumentum Fourth Quarter and Fiscal Year 2019 Financial Results Conference Call. As a reminder, today's call is being recorded for replay purposes through August 15th, 2019.

I would now like to turn the conference over to Mr. Jim Fanucchi of Darrow Associates. Mr. Fanucchi, please go ahead.

Jim Fanucchi

Thank you, Operator. Welcome to the Lumentum's fourth quarter and fiscal year 2019 earnings call. This is Jim Fanucchi from Darrow Associates, assisting Lumentum with its Investor Relations.

Joining the call today from the company's management, we have Alan Lowe, President and Chief Executive Officer; Wajid Ali, Chief Financial Officer; and Chris Coldren, Senior Vice President of Business Development.

This call will include forward-looking statements, including statements regarding the markets in which we operate, including potential market sizes, trends and expectations for products and technology, including product development and projected new product releases, purchasing trends and demand for our products, our expected financial performance, expenses and position in the market as well as statements regarding the recent acquisition of Oclaro.

These statements are subject to risks and uncertainties that could cause actual results to differ materially from our current expectations. Lumentum encourages you to review our most recent filings with the SEC, particularly, the risk factors described in our filings with the Securities and Exchange Commission, including the Company's quarterly report on Form 10-Q for the fiscal quarter ended March 30th, 2019 filed with the SEC on May 7, 2019, and in Lumentum's 10-K for fiscal year 2019, that ended June 29th, 2019, which the Company expects to file within 60 days of the fiscal year end.

The forward-looking statements provided during this call are based on Lumentum's reasonable beliefs and expectations as of today. Lumentum undertakes no obligation to update these statements, except as required by applicable law.

Please also note, unless otherwise stated, all results and projections discussed on this call are non-GAAP. Non-GAAP financials should not be considered as a substitute for or superior to financials prepared in accordance with GAAP. Lumentum's press release with fourth quarter and full-year fiscal 2019 results is available on its website at under the Investors section and includes additional details about our non-GAAP financial measures and a reconciliation between our historical GAAP and non-GAAP results.

Lumentum's website also has its latest SEC filings and supplementary slides relating to today's earnings release and the Company encourages you to review these. A recording of today's call will be available by 11:30 a.m. Pacific Time today on our website.

Now, I will turn the call over to Alan for his comments on fourth quarter market and product highlights.

Alan Lowe

Thank you, Jim. Good morning, everyone. Before my comments on our business, I will start with the sad news we communicated in the press release yesterday. We recently learned that our Board Chairman, Marty Kaplan passed away. Marty in his role as Chairman, was a trusted and wise advisor, but he was much more than that. He was a friend, a truly