Viavi Reports Fourth Fiscal Quarter Financial Results
Wednesday, August 15, 2018 | Comments

Viavi reported results for its fourth fiscal quarter ended June 30.

Viavi Solutions completed the acquisition of the AvComm and Wireless Test and Measurement (T&M) businesses of Cobham earlier this year.

Fiscal year 2018 fourth quarter net revenue was $264 million. GAAP net loss was $28.8 million. Third quarter net revenue was $219.4 million. GAAP net loss was $8.7 million.

"Viavi executed well on its strategic priorities in fiscal year 2018," said Oleg Khaykin, Viavi president and CEO. “We improved NSE revenue quality, resulting in operating margin expansion, and increased revenue scale with the acquisitions of Trilithic and the recent T&M businesses of Cobham. We also diversified OSP's profit profile with the successful launch of 3D sensing products. The 3D sensing revenue is expected to see continued strong growth in fiscal year 2019. Q4 had a strong finish as revenue, non-GAAP operating margin and earnings per share exceeded the midpoint guidance range."

Khaykin said he is optimistic about next quarter’s revenue and profitability growth through increased fiber-to-the-home deployment, 5G wireless deployment and further adoption of 3D sensing on mobile devices.

Americas, Asia-Pacific and Europe, Middle East and Africa (EMEA) customers represented 44.0, 25.3 and 30.7 percent, respectively, of total net revenue for the quarter ended June 30. Americas, Asia-Pacific and EMEA customers represented 47.8, 24.1 and 28.1 percent, respectively, of total net revenue for the year ended June 30.

As of June 30, company held $788 million in total cash and investments. During the fiscal quarter ended June 30, the company generated $17.5 million of cash from operations.

For the first quarter of fiscal 2019 ending Sept. 29, the company expects net revenue to be between $257 million to $277 million.

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