Lumentum(US:LITE)2022-12-08 20:03Q1 FY23 Results - Revenue reached $506.8 million[6,9,12,15], a 67% year-over-year increase[3] - GAAP gross margin was 39.7%[6], while non-GAAP gross margin was 48.2%[9] - GAAP operating expenses were $187.7 million[6], representing 37.0% of revenue[6] - Non-GAAP operating expenses were $107.6 million[9], representing 21.1% of revenue[9] - GAAP operating income was $13.5 million[6], a 2.7% of revenue[6] - Non-GAAP operating income was $137.6 million[9], a 27.1% of revenue[9] - Cash and short-term investments totaled $1,624.9 million[14] Segment Performance - Telecom revenue grew 79% year-over-year, contributing $136 million of incremental revenue[3] - Telecom growth excluding acquisitions was 38% year-over-year[3] - ROADM revenue increased 23% quarter-over-quarter and 34% year-over-year[3] Q2 FY23 Guidance - Revenue is projected to be between $490 million and $520 million[15] - Operating margin is expected to be between 20% and 22%[15] - IC shortages are expected to impact revenue by approximately $80 million[3,15]