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dickmilde

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dickmilde

Re: None

Monday, 11/12/2018 8:56:39 AM

Monday, November 12, 2018 8:56:39 AM

Post# of 113111
LITE Lumentum slashes outlook after top customer requests shipment cut

( Shares are down 27% in pre-market )

Nov 12 (Reuters) - Laser sensor maker Lumentum Holdings Inc , which supplies parts for Apple Inc's latest iPhones, slashed its second-quarter forecast on Monday, saying one of its biggest customers had requested to materially cut shipments.

Lumentum did not name the customer.

The company now expects net revenue of $335 million to $355 million, compared with its prior range of $405 million to $430 million, and earnings per share of $1.15 to $1.34, down from $1.60 to $1.75. (Reporting by Vibhuti Sharma in Bengaluru; Editing by Anil D'Silva)
https://finance.yahoo.com/news/lumentum-slashes-outlook-top-customer-132154292.html

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