Lumentum Holdings Inc. (NASDAQ:LITE) Q1 2024 Earnings Call Transcript

Dave Kang: Got it. And then regarding your comments about C&N being up in calendar ’24 year-over-year, I assume that was organic, right?

Alan Lowe: I’m sorry, I missed the beginning of the question. What being up?

Dave Kang: Cloud & Networking, I think — I believe you said it’s going to be up calendar ’24. It’s organic, right?

Alan Lowe: I would say both organic and inorganic, we expect that to be up. Yes.

Dave Kang: Okay. So just to be clear, I mean, even without Cloud Light, C&N will be up next year, next calendar year?

Alan Lowe: Yeah.

Dave Kang: Yeah. Okay. Just wanted to clarify that. Thank you. Okay.

Alan Lowe: Sure.

Kathy Ta: Thanks, Dave.

Operator: Thank you. There are no further questions at this time. I’d now like to turn the call back over to Mr. Alan Lowe for final closing comments.

Alan Lowe: Great, and thank you. I’d like to leave you with a few thoughts as we wrap up this call. First, I would like to extend a very warm welcome to the Cloud Light team joining Lumentum. The talented Cloud Light team already excels at delivering the highest speed optical transceivers to cloud data center operators and infrastructure providers. I very much look forward to our R&D teams working together to see what else is possible to deliver even more leading-edge product innovations to our customers. In addition, our business fundamentals are solid for the mid- to long-term as we serve the exponential growth in data center bandwidth required by the artificial intelligence, machine learning, mobile, carrier and cloud computing markets.

New industrial applications are driving demand for our advanced imaging and sensing products, and our commercial lasers are expanding into high-growth applications beyond our traditional markets. We are committed to investing in innovation to meet customer needs today and in the future. With that, I would like to thank everyone for attending, and we look forward to talking with you again at investor conferences and upcoming meetings in the coming weeks. Thank you.

Operator: Thank you, sir. Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask that you please disconnect your lines. Have a lovely day.