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VIAVI ANNOUNCES THIRD QUARTER FISCAL 2024 RESULTS

  • 2024/5/9 10:31:43

　　CHANDLER, Ariz., May 2, 2024? -- VIAVI (NASDAQ: VIAV) today reported results for its third fiscal quarter ended March 30, 2024.

　　Third Quarter

　　* Net revenue of $246.0 million, down $1.8 million or 0.7% year-over-year

　　* GAAP operating margin of (4.8)%, down 400 bps year-over-year

　　* Non-GAAP operating margin of 9.3%, down 210 bps year-over-year

　　* GAAP diluted Earnings per share (EPS) of $(0.11), down $0.04 or 57.1% year-over-year

　　* Non-GAAP diluted EPS of $0.06, down $0.02 or 25.0% year-over-year

　　Third quarter of fiscal 2024 net revenue was $246.0 million. GAAP net loss was $(24.6) million, or $(0.11) per share. Non-GAAP net income was $13.2 million, or $0.06 per share.

　　Second quarter of fiscal 2024 net revenue was $254.5 million. GAAP net income was $10.7 million, or $0.05 per share. Non-GAAP net income was $23.7 million, or $0.11 per share.

　　Third quarter of fiscal 2023 net revenue was $247.8 million. GAAP net loss was $(15.4) million, or $(0.07) per share. Non-GAAP net income was $18.0 million, or $0.08 per share.

　　"VIAVI end markets spend environment continues to be challenging, particularly the service providers and enterprise customer segments.  In view of these continued headwinds, our revenue came in at the lower end of our guidance, with stronger OSP demand partially offsetting weaker than expected NSE demand. Our EPS came in at the lower half of our guidance range, driven by lower NSE volume and less favorable product mix" said Oleg Khaykin, VIAVI's President and Chief executive Officer.

　　Financial Overview:

　　The tables below (in millions, except percentage, and per share data) provide comparisons of quarterly results to prior periods, including sequential quarterly and year-over-year changes. A full reconciliation between the GAAP and non-GAAP measures included in the tables is contained in this release under the section titled "Use of Non-GAAP (Adjusted) Financial Measures."

Source: VIAVI

　　* Americas, Asia-Pacific and EMEA customers represented 35.9%, 36.5% and 27.6%, respectively, of total net revenue for the quarter ended March 30, 2024.

　　* As of March 30, 2024, the Company held $486.1 million in total cash, short-term investments and short-term restricted cash.

　　* As of March 30, 2024, the Company had $250 million aggregate principal amount of 1.625% Senior Convertible Notes and $400 million aggregate principal amount of 3.75% Senior Notes with a total net carrying value of $634.4 million.

　　* During the fiscal quarter ended March 30, 2024, the Company generated $19.5 million of cash flows from operations.

　　Business Outlook for the Fourth Quarter of Fiscal 2024

　　For the fourth quarter of fiscal 2024 ending June 29, 2024, the Company expects net revenue to be between $246 million to $258 million and non-GAAP EPS to be between $0.06 to $0.08.

　　About VIAVI Solutions

　　VIAVI (NASDAQ: VIAV) is a global provider of network test, monitoring and assurance solutions for telecommunications, cloud, enterprises, first responders, military, aerospace and railway. VIAVI is also a leader in light management technologies for 3D sensing, anti-counterfeiting, consumer electronics, industrial, automotive, government and aerospace applications.

　　Learn more about VIAVI at www.viavisolutions.com.

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