LITE Stock Recent News

LOS ANGELES, CALIFORNIA, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Omni-Lite Industries Canada Inc. (the "Company" “Omni-Lite”; TSXV: OML) today is reporting that California Nanotechnologies Corp. (“Cal Nano”; TSXV: CNO) has fully paid off the outstanding debt owed to the Company aggregating approximately US$600,000, comprised of principal and interest related to the loan and promissory note previously advanced to Cal Nano. Accordingly, the debt repayment will result in an increase to the Company's cash position, a corresponding reduction, or extinguishment, in the carrying value of the outstanding debt receivable, along with a one-time gain, or to “Other Income” of approximately US$200,000. Additionally, the Company has realized cash proceeds from the recent sale of approximately 230,000 shares of Cal Nano common stock, which will result in an additional increase in cash in the fiscal fourth quarter 2024.

Boosted by Lumentum and Applied Optoelectronics earnings reports, IBD's Telecom-Fiber Optics group has climbed to No. 3 out of 197 industries tracked.

Lumentum Holdings Inc. LITE reported better-than-expected first-quarter financial results and issued second-quarter guidance above estimates on Thursday.

Lumentums Q1 2025 results exceeded expectations with a 20% stock surge, driven by strong datacom optics and AI market exposure. The company forecasts double-digit sequential revenue growth in Q2, with significant future growth in cloud and AI opportunities. Despite challenges in the 3D sensing and automotive markets, LITE stock's valuation grade improved, and it retains a 'buy' rating.

Lumentum Holdings Inc. (LITE) Q3 2024 Earnings Call Transcript

Lumentum (LITE) came out with quarterly earnings of $0.18 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.35 per share a year ago.

CONFERENCE CALL FOR INVESTORS NOVEMBER 7, 2024, AT 1:00 PM EDT Third Quarter Fiscal 2024 Highlights Revenue of US$3.8 million, a 14% Increase Over the Year Ago Period Adjusted EBITDA ( 1) of approximately US$187,000 Free Cash Flow ( 1) of approximately US$636,000 Strong Balance Sheet; US$2.6 million in Cash and No Debt Outstanding Bookings of US$3.9 million, Book-to-Bill Ratio of 1.03 Year To Date Fiscal 2024 Highlights Revenue of US$12.4 million, an Increase of 36% Over the Year Ago Period Adjusted EBITDA ( 1) of US$1.6 million, an Increase of US$1.3 million Over the Comparable Year Ago Period Free Cash Flow ( 1) of approximately US$1.6 million, a Year-over-Year Increase of US$1.0 million TSXV: OML OTCQX: OLNCF LOS ANGELES, CALIFORNIA, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Omni-Lite Industries Canada Inc. (the "Company" or “Omni-Lite”; TSXV: OML) today reported results for the third quarter ending September 30, 2024. Full financial results are available at sedarplus.ca.

SAN JOSE, Calif.--(BUSINESS WIRE)--Lumentum Holdings Inc. ("Lumentum"), a market-leading designer and manufacturer of innovative optical and photonic products, today announced publication of its fourth annual Fiscal 2024 Corporate Sustainability Report, showcasing the company's environmental, social, and governance achievements. Highlights from the report include: Planet – Continued Momentum and Expansion of Climate Change Initiatives Lumentum made notable advances over the past fiscal year tow.

Shares of Lumentum Holdings Inc (LITE, Financial) surged 5.20% in mid-day trading on Oct 2. The stock reached an intraday high of $64.82, before settling at $64.69, up from its previous close of $61.49.

I maintain a buy rating for Lumentum Holdings due to its positive growth potential and recent developments. LITE's 4Q24 performance and 1Q25 guidance suggest the first y/y growth after six consecutive quarters of decline, boosting confidence in future growth. Key developments include a new 800G transceiver deal with a major cloud provider and expanding EML manufacturing capacity to meet AI-driven demand.