Revenue Analysis
Over the past year, LITE has shown some fluctuations in its financial performance. The Total Revenue peaked in the 2023-06-30 quarter with $370,800,000, and was lowest in the 2023-09-30 quarter at $317,600,000. Operating Revenue followed the same trend, indicating that the main revenue streams did not diversify. Gross Profit margins exhibited a high in the 2023-06-30 quarter at $89,600,000, suggesting better cost efficiency during this period as compared to a low margin observed in other quarters.
Cost Management
Cost of Revenue was consistent with revenue changes, highest at $302,800,000 in 2023-12-31 and lowest at $240,900,000 in 2023-09-30. Operating Expenses peaked at $163,400,000 during 2023-12-31 and were significantly lower at $146,500,000 in 2023-09-30. Total Expenses presented the highest in 2023-06-30 with $423,400,000 aligning with the highest revenue quarter, suggesting that spending was scaled to support the increased business activities.
Profitability Analysis
The analysis of EBITDA indicates the company experienced varying degrees of operating profits with a notable low of -$27,000,000 in 2023-12-31 contrasted by a positive $43,400,000 during the 2023-06-30 period. Operating Income was negative across all quarters, notably poor at -$99,400,000 in 2023-12-31, reflecting ongoing operational challenges. Pretax Income followed a similar trend with large losses, especially -$101,500,000 in the last quarter, showing a tough operational performance. Net Income has been persistently negative, with December 2023 experiencing a significant loss of $-99,100,000.
Cash Flow Indicators
Reconciled Depreciation was relatively consistent, illustrating sustained investment in the asset base, around $57,700,000 to $78,700,000 through different periods. Interest Expense has been managed between $8,700,000 to $9,700,000 across different quarters.
Taxation
Tax rates were variable, with the highest at 0.21 in the 2023-06-30 period. Tax Provision taken drastically varied with a range from $-2,400,000 in 2023-12-31 to $14,800,000 in 2023-06-30, reflecting differing pretax income and possible changes in tax assessments based on jurisdictional profits and losses. The Tax Effect of Unusual Items was also a significant factor in financials.
Shareholder Metrics
Diluted and Basic EPS were consistently negative across all periods, highlighting earnings challenges. The shares outstanding seemed stable around 67,200,000 to 68,600,000, indicating no major issues or dilutions affecting the share base. Net Income Available to Common Stockholders tracked closely with the reported net losses.
Conclusion
The fiscal performance of LITE has shown significant strain with continuous operational losses, challenging profitability metrics, and negative earnings per share across the analysis period. The consistent negative net income emphasizes the need for strategic reassessment and possibly significant operational overhauls to return to profitability. Investors might be cautious about the ongoing financial health of LITE.
Appendices
Detailed financial tables could not be shown here but analysis rests on provided quarterly statements laid out initially.