Luna(US:LUNA)2020-08-07 22:35Financial Performance - Total revenues for the second quarter of 2020 were $186 million, up 4% year-over-year[3] - Lightwave revenue reached $129 million, a 3% increase year-over-year[3] - Luna Labs revenue increased to $56 million, representing a 7% growth year-over-year[3] - Operating income improved to $18 million, or 10% of total revenues, in Q2 2020, compared to $10 million, or 6% of total revenues, in Q2 2019[3] - Net income for the three months ended June 30, 2020, was $14 million, or $004 per fully diluted share, compared to $08 million, or $002 per fully diluted share, for the three months ended June 30, 2019[3] - Adjusted EBITDA increased to $30 million for the three months ended June 30, 2020, compared to $24 million for the three months ended June 30, 2019[3] Financial Position and Outlook - The company reaffirmed its 2020 outlook, tightening the range to $81 million to $83 million in total revenues[3] - The company has $912 million in total assets, including $265 million in cash and cash equivalents, and $448 million in working capital as of June 30, 2020[7] - The company maintains its FY2020 outlook with total revenues of $81 million to $83 million and Adjusted EBITDA of $10 million to $12 million[9] COVID-19 Impact and Response - The company took immediate action in mid-March to create a safer work environment, with many actions remaining in effect and new initiatives added[8] - The company has not had any staff reductions to date and does not anticipate any[8]