VIAVI Announces First-Quarter 2022 Financials
Thursday, November 04, 2021 | Comments

VIAVI reported results for its first fiscal quarter ended October 2.

First quarter of fiscal 2022 net revenue was $326.8 million. Generally accepted accounting principles (GAAP) net loss was $54.8 million, or $0.24 per share. Non-GAAP net income was $58.2 million, or $0.24 per share.

Fourth quarter of fiscal 2021 net revenue was $310.9 million. GAAP net income was $3.3 million or $0.01 per share. Non-GAAP net income was $52.5 million, or $0.22 per share. First quarter of fiscal 2021 net revenue was $284.7 million. GAAP net income was $19.7 million, or $0.08 per share. Non-GAAP net income was $48.3 million, or $0.21 per share.

Americas; Asia-Pacific; and Europe, Middle East and Africa (EMEA) customers represented 37.2%, 38.6% and 24.2%, respectively, of total net revenue for the quarter ended October 2.

As of October 2, the company held $921.7 million in total cash, short-term restricted cash and short-term investments. The company had $278.8 million aggregate principal amount of 1% senior convertible notes, $131.2 million aggregate principal amount of 1.75% senior convertible notes and $400 million aggregate principal amount of 3.75% senior notes with a total net carrying value of $800.7 million classified as long-term debt.

During the fiscal quarter, the company generated $53.4 million of cash from operations. For the second quarter of fiscal 2022 ending January 1, 2022, the company expects net revenue to be between $296 million to $310 million and non-GAAP earnings per share (EPS) to be between $0.18 to $0.20.

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