Lumentum Holdings Inc. (NASDAQ:LITE) reported better-than-expected first-quarter financial results and issued strong second-quarter guidance on Tuesday.

Lumentum reported quarterly earnings of $1.10 per share which beat the analyst consensus estimate of $1.03 per share. The company reported quarterly sales of $533.800 million which beat the analyst consensus estimate of $525.367 million.

Lumentum said it sees second-quarter adjusted EPS of $1.30-$1.50 versus estimates of $1.16. The company expects sales of $630.000 million-$670.000 million, versus projections of $560.159 million.

“In our fiscal first quarter, we saw year-over-year revenue growth of 58 percent ...