Lumentum says ‘multi-year, multibillion dollar agreement’ closed yesterday

Speaking at the Nokia Optical Fiber Communication Conference, executives from Lumentum (LITE) stated: “So we’re starting to see a lot of good signs from an engineering perspective. We’re executing a lot better than we have. And from a manufacturing side, we’re starting to turn the corner. We’re really starting to execute and see better margins, better deliveries and improved revenue generally coming from our cloud transceiver business. The second growth driver, and this is an important update. We’ve talked to you guys about $400 million of revenue shipping in the back half of the calendar year. We just closed yesterday. A new multi-year, multibillion dollar agreement with a large OCS consumer. We are really excited about this. We believe that this will lead to multiple years of revenue growth and revenue enhancement on our OCS line.”

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