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Lumentum Holdings, a San Jose-based optical telecommunications products maker, has announced a wider-than-expected loss in its fiscal fourth quarter. The company reported a loss of .2 million, or 88 cents per share, for the quarter ending July 1. This is in contrast to a profit of .7 million, or 49 cents per share, in the same quarter of the previous year. Analysts had anticipated a loss of 41 cents per share.

However, after adjusting for certain one-time items, the company’s earnings came in at 59 cents per share, surpassing the forecast of 56 cents per share. The company’s revenue also declined, falling to 0.8 million from 2.1 million a year earlier. Despite the decline, the revenue still exceeded the analysts’ expectation of 6.2 million.

Lumentum’s Chief Executive, Alan Lowe, stated that the company anticipates the ongoing customer inventory correction cycle to persist until the end of the calendar year. As a result, the company expects its shipments to be below the level of end-market demand.

This quarterly loss and lower revenue highlight the continued challenges faced by Lumentum Holdings. The company’s customers are still in the process of managing their inventory, which has impacted Lumentum’s financial performance. It remains to be seen how long this inventory correction cycle will last and how it will affect the company’s future profitability.

Despite these setbacks, Lumentum Holdings remains a key player in the optical telecommunications industry. The company specializes in developing and manufacturing innovative products to meet the growing demand for high-speed data communication. Lumentum will need to navigate the challenges of the current market conditions to ensure its long-term success.

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