Lumentum Holdings Inc. (LITE) Earnings Call Transcript & Summary

Good afternoon, everyone. I'm Dylan James, Vice President in the Western region for NASDAQ. I'd like to welcome all of you to the crossroads of the world in Times Square New York. We're getting ready to ring today's closing bell and we have a lot to celebrate. I would like to be the first to congratulate Lumentum on their 5-year listing anniversary on NASDAQ. It was 5 years ago that Lumentum successfully spun off from JDSU. They began life as a publicly traded company on August 1, 2015, and began regularly trading on NASDAQ on August 4 of that year. The management team at Lumentum was confident that they would be a great stand-alone company, more focused and agile and they believed that they would be better positioned to capitalize on the growth opportunities in all of their addressable markets. And my gosh, what a successful 5-year run. This has been -- especially if you're a shareholder, just over the course of 5 years, the shares in the equity of Lumentum have appreciated over 270%. So obviously, a testament to the huge amount of hard work that has gone into a great business. Lumentum is established as the market-leading developer and manufacturer of innovative optical and photonic products. The components and subsystems are virtually part of every telecom, enterprise and data center network that is used today. And then Lumentum's commercial lasers are -- and advanced manufacturing techniques have diverse applications, including next-generation 3D sensing capabilities. And under the leadership of CEO, Alan Lowe, Lumentum has consistently delivered exceptional value to both customers and shareholders alike. And Lumentum embodies all of those key characteristics of a NASDAQ-listed company: Bold vision, innovation, entrepreneurial spirit and growth. We highly value our partnership with Lumentum and look forward to celebrating many more milestones in person in the future. And now it's my great pleasure to welcome Lumentum's President and Chief Executive Officer, Alan Lowe, to ring today's virtual closing bell. And please join me in congratulating Alan, in addition to all of the Lumentum team, I wish them continued success. Alan, over to you. Let's close the market.

Good afternoon, everyone. My name is Alan Lowe and I have the great privilege of leading the wonderful team at Lumentum. I'm very happy to be here today to celebrate our fifth anniversary of becoming an independent public company. And wow, those 5 years have been incredible. Our photonic products are critical enablers to things that we depend upon every day, including video streaming and conferencing, the Internet, mobile home networks and cloud data centers. We also supply products and technology to enable biometric authentication, including 3D sensing, enhanced photography and augmented and virtual reality for consumer devices. Additionally, we supply products and technology to aid the production of semiconductor chips and consumer electronic devices. In each of the 5 years since we became independent, we have grown revenue, margins and earnings per share. I'm -- I can't be more proud of what the team has done. We've done this by focusing on developing the most innovative products and technology ahead of our competition, making Lumentum indispensable to our customers. With the opportunities ahead of us, we believe the future is even brighter now than it was when we spun out 5 years ago. At Lumentum, we are committed to the highest standard of social, ethical and environmental conduct and responsibility, including promoting safe and inclusive workplaces, free from discrimination and harassment and in making meaningful contributions to society and local communities. I want to take this time to also thank the 5,000 employees around the world who have put us in great financial position, enabled our technology and product leadership for our customers and have gone above and beyond during this pandemic to really take care of the communities that we participate in. We've used our commercial supply chain and our internal capabilities to provide personal protective equipment for our local healthcare facilities. And we've also increased and expanded our charitable donation program and our employee matching program. Our employees are absolutely the greatest asset to our company. I would also like to take this opportunity to thank the rest of our stakeholders, including customers, supplier partners and our shareholders for their support and partnership over the past 5 years. I look forward to the future as it is surely bright at Lumentum. Thank you very much.