Lumentum Holdings Inc. (NASDAQ:LITE) Q4 2023 Earnings Call Transcript

Kathy Ta: Simon, do you have a follow-up? Go ahead.

Jeff Koche: Yes. I am just wondering – so if I got this right that the – did you say that NeoPhotonics was up or down sequentially in the quarter? And is it safe to say that the majority of the downtick in September and December is going to be in the legacy Telecom business? And that Neo is going to do – is more, I guess that inventory digestion with the ZR is more played out, is that fair to say?

Alan Lowe: Yes. Jeff, the delineation between Neo products and legacy products after a year has pretty much gone. So, we are still seeing strength, as we talked about in narrow line with tunable lasers, I think I have said we are seeing growth again in expectations for ZR as we move forward. But I would say that Neo products in the June quarter were down from previous, and we expect as the inventory of whether it’s the narrow line with tunable lasers or other products that we got through the acquisition, as those burn down, we are going to see growth across the board. So, I wouldn’t say it’s anything specific to legacy versus Neo products, it’s an inventory issue at our customers that we are trying to take care of.

Jeff Koche: Okay. Thanks.

Alan Lowe: Thanks Jeff.

Kathy Ta: Thank you. Lara, I think we will turn the call back over to Alan for some closing remarks.

Alan Lowe: Thanks Kathy. Thank you everyone. I would like to leave everyone with a few thoughts as we wrap up the call. As I have said before, mid to long-term fundamentals are solid for our business as we serve the exponential growth in network bandwidth in the artificial intelligence, machine learning, mobile, carrier and cloud computing markets. New industrial applications are emerging for our imaging and sensing products, and our commercial lasers are expanding into high-growth applications beyond our traditional markets. We are committed to investing deeply in innovation to deliver on our customers’ 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 the investor conferences and upcoming meetings in the coming weeks. Thank you all for attending.

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.