Lumentum 具有显著上行空间，得益于强劲的增长和盈利能力，并且其独特定位能够解决 AI 网络瓶颈。
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而Lumenum，股票代码LIT，生产用于替代数据中心机架内铜线的激光器。
And Lumenum, ticker symbol LIT, which makes lasers to replace copper wires inside data center racks.
Lummentum不再报告其数据中心数据，但他们的收入同比增长了83%，这可能并非来自电信公司。
Lummentum doesn't report their data center numbers anymore, but their revenues grew by 83% year-over-year, which probably didn't come from telecom companies.
Lumenum上个季度报告了10亿美元的收入，同比增长109%。调整后每股收益为3.23美元，而一年前仅为88美分，这意味着他们的收益比去年增长了267%。
Lumenum reported a billion dollars in revenue last quarter, which was up 109% year-over-year. Adjusted earnings per share came in at $3.23 23 versus just 88 a year ago, which means their earnings are up 267% from last year.
他们的调整后毛利率达到了50.4%。Lum的主要产品是电吸收调制激光器，即EML。除了EML之外，Lumenum还制造几种不同类型的激光器。
And their adjusted gross margins hit 50.4%. Lum's main product is an electroabsorption modulated laser or EML. Lumenum makes several different kinds of lasers besides EMLs.
Lum 的泵浦激光器在可预见的未来实际上已售罄。
Lum is effectively sold out of their pump lasers for the foreseeable future.
Lumenum 去年在工厂和设备上花费了 4.51 亿美元，而运营现金流为 7.51 亿美元。这意味着他们每实际赚到 1 美元就花费 60 美分，而 Coherence 则为 14 美元。
Lumenum spent $451 million on factories and equipment last year against $751 million in cash from operations. That means they spent60 for every dollar they actually made compared to Coherence 14 bucks.
如果你查看 Lumen 的数据，他们上个季度每股净亏损 84.65 美元，但这是由于与债务转股权相关的 78 亿美元一次性非现金费用所致。
if you pull up Lumen's numbers, they posted a net loss of $84.65 per share last quarter, but that's due to a one-time non-cash charge of $7.8 billion associated with converting debt to equity.
但该业务本身本季度产生了 2.79 亿美元的营业收入。如果网络确实是 AI 的下一个重大瓶颈，Lum 是少数几家有能力解决这一问题的公司之一，尤其是还有 Nvidia 的支持。
But the business itself generated $279 million in operating income for the quarter. if networking really is the next big bottleneck for AI, Lum is one of the only companies in any position to solve it, especially with Nvidia in their corner, too.
我认为 Lumenum 仍有很大的上涨空间。他们的收入同比增长了 109%，毛利率超过 50%。而且他们每赚 1 美元只花费 60 美分。
I think Lumenum still has a ton of upside. They grew their revenues by 109% year-over-year at over 50% gross margins. And they only spent 60 cents on every dollar to do it.
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