Viavi Reports Fiscal Second-Quarter Results
Wednesday, February 05, 2020 | Comments

Viavi reported results for its second fiscal quarter ended Dec. 28. Second quarter fiscal 2020 net revenue was $313.7 million. GAAP net income was $28 million.

The figures compared with first quarter of fiscal 2020 net revenue of $299.8 million and GAAP net income of $6.8 million. Second quarter fiscal 2019 net revenue was $306.9 million, and GAAP net income was $15.4 million.

"We are pleased with our fiscal Q2 2020 results as VIAVI delivered record revenue, non-GAAP operating margin and non-GAAP EPS (earnings per share) and broke the prior record financial performance set in fiscal Q2 2019," said Oleg Khaykin, VIAVI's president and CEO. "Both NSE and OSP business segments delivered strong performance.

“Looking ahead, we expect 5G wireless field deployment, starting in late calendar 2020, increased penetration of 3D sensing applications in mobile devices, and fiber network densification to drive our business growth this calendar year."

Americas; Asia Pacific; and European, Middle East and Africa (EMEA) customers represented 37.2%, 36% and 26.8%, respectively, of total net revenue for the quarter ended Dec. 28. As of the end of the quarter, the company held $556.9 million in total cash and investments. The company held notes with a total net carrying value of $589.8 million classified as long-term debt. During the fiscal quarter, Viavi generated $38 million of cash from operations.

For the third quarter of fiscal 2020 ending March 28, the company expects net revenue to be between $268 million to $288 million.

Viavi provides test equipment to the mission-critical communications market.

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