Lumentum Holdings Inc.

Good morning, my name is Emily and I will be your conference operator today. At this time, I'd like to welcome everyone to the Lumentum conference call to discuss its proposed acquisition of Neophotonics, in addition to a review of Lumentum's Q1 fiscal 2022 financial results. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. The call is scheduled for approximately one hour. As a reminder, today's call is being recorded. At this time, I'd like to turn the conference over to Jim Finucchi of Darrow Associates. Sir, please go ahead.

Thank you, operator. Welcome to Lumentum's call to discuss its announcement of entering into an agreement to acquire Neophotonics and its fiscal first quarter 2022 earnings. This is Jim Finucchi from Darrow Associates assisting Lumentum with its investor relations. Joining the call today from the Lumentum management team We have Alan Lowe, President and Chief Executive Officer, Wajid Ali, Chief Financial Officer, and Chris Coldren, Senior Vice President of Strategy and Corporate Development. We also have on the call Tim Jenks, President, Chief Executive Officer, and Chairman of Neophotonics. Today's call will include forward-looking statements, including statements regarding our expectations regarding the acquisition, including market opportunity, expected synergies, financial and operating results and expectations regarding accretion, time to close, strategies of the combined company and benefits to customers and the markets in which we operate, as well as the impact of COVID-19 and the responsive actions on our business and continuing uncertainty in this regard, trends and expectations for our products and technology, our markets, market opportunity and customers, and our expected financial performance, including our guidance as well as statements regarding our future revenues, our financial model, and our margin targets. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our current expectations, particularly the risk factors described in our SEC filings. We encourage you to review our most recent filings with the SEC particularly the risk factors described in the annual report on Form 10-K for the year ended July 3rd, 2021, and those of the 10-Q for the quarter ended October 2nd, 2021, to be filed by Lumentum with the SEC. The forward-looking statements provided during this call are based on Lumentum's reasonable beliefs and expectations as of today. Lumentum undertakes no obligation to update these statements except as required by applicable law. Please also note, unless otherwise stated, all results and projections discussed in this call are non-GAAP. Non-GAAP financials are not to be considered as a substitute for or superior to financials prepared in accordance with GAAP. Lumentum's press releases with the fiscal first quarter 2022 results and transaction announcement and supplemental slides are available on its website at www.lumentum.com under the investor section. This includes additional details about our non-GAAP financial measures and a reconciliation between our historical GAAP and non-GAAP results. For those following along with the presentation on today's acquisition announcement posted on Lumentum's website, please turn to slide five. Now I will turn the call over to Alan for his comments.

Thank you, Jim. Good morning, everyone. Today is a very exciting day and we have a lot to cover. We will start with the transaction we announced earlier this morning, and then we will discuss our quarterly results. Earlier this morning, we announced the Lumentum will acquire Neoplatonics to accelerate optical networking speed and scalability. Through this transaction, we are increasing Lumentum's exposure to the rapidly growing 400 gig and above optical communication opportunity, creating an even better partner for our customers, adding a talented team of photonics experts, and expanding our photonics toolkit with technologies widely applicable across many markets, including silicon photonics, ultra narrow line width external cavity tunable lasers, and RF integrated circuits. Before getting into the details of the many benefits of this transaction, I will first provide a brief overview of how this transaction fits with our strategy And then I will turn it over to Tim for his thoughts on today's announcement. Please turn to slide six. Lumentum is a leader in multiple growing markets which are increasingly utilizing photonics. Our more than $20 billion addressable market consists of photonics for communications, 3D sensing and LIDAR, and advanced manufacturing. In each of these markets, there are strong secular trends creating growth opportunities for Lumentum. Our strategy is to organically and inorganically invest in differentiated products and technologies in each of our markets to accelerate growth. Over the past six years as a public company, we have made great strides in executing our strategy to grow and win, which is grounded in leveraging our broad technology and manufacturing capabilities across multiple end markets driven by durable long-term trends, developing and nurturing close relationships with market-leading customers and enabling them to win in their markets, and investing in fundamental technologies in anticipation of customer needs and then creating the best performing and highest quality products. Consistent with this, we have had a strategic approach to M&A that has created value for Lumentum and our stockholders. For example, we closed our acquisition of O'Claro in late 2018 And since then, we have far exceeded the objectives that we set for the transaction. We also significantly exceeded our synergy targets and on an earlier timeline than when we announced the transaction. Today is another step towards achieving our strategic objectives. We look forward to building upon our proven M&A track record and delivering enhanced value through the combination with Neophotonics as we successfully integrate the company into Lamentum. I'm now happy to turn the call over to Tim Jenks, Neophotonics President, CEO, and Chairman of the Board, who's here to tell you more about Neophotonics and why he believes this combination is so compelling. Tim?