Business
VIAVI Announces $300 Million Common Stock Repurchase Program, Reconfirms Business Outlook and Announces Analyst Day Webcast
CHANDLER, Ariz., Sept. 13, 2022 /PRNewswire/ -- (NASDAQ: VIAV) Viavi Solutions Inc. ("VIAVI") announced today that its Board of Directors has authorized a
About this update from Viavi Solutions Inc.
[{"type":"text","content":"CHANDLER, Ariz., Sept. 13, 2022 /PRNewswire/ -- (NASDAQ: VIAV) Viavi Solutions Inc. (\"VIAVI\") announced today that its Board of Directors has authorized a stock repurchase program of up to $300 million of VIAVI's common stock effective October 1, 2022 and will remain in effect until the amount authorized has been fully repurchased or until VIAVI suspends or terminates the program. This new program replaces the $200 million stock repurchase program that the Board previously authorized in September 2019 and which expires September 30, 2022. Under the new share repurchase program, the Company is authorized to repurchase shares through a variety of methods, including open market purchases, privately-negotiated transactions or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans. The timing of repurchases under the new program will depend upon business and financial market conditions.\n\n \n \n \n \n \n \n\n \nBusiness Outlook\nFor the first quarter of fiscal 2023 ending October 01, 2022, VIAVI is reconfirming its guidance revenue of $317 million to $331 million, non-GAAP operating margin between 20.7%-22.1%, and non-GAAP earnings per share to be in the range of $0.22 to $0.24.\nAnalyst Day/Webcast\nVIAVI is hosting its Analyst Day event today at 9:00am EDT (6:00am PDT) in Boston, Massachusetts. The Analyst Day presentation will be made available on VIAVI's website after the event and the live webcast and its archived replay can be viewed at www.viavisolutions.com/investors. This press release and the Analyst Day presentation are also being furnished in a Current Report on Form 8-K with the Securities and Exchange Commission, and will be available at www.sec.gov.\nAbout VIAVI Solutions\nVIAVI (NASDAQ: VIAV) is a global provider of network test, monitoring and assurance solutions for communications service providers, enterprises, network equipment manufacturers, original equipment manufacturers, government and avionics. We help these customers harness the power of instruments, automation, intelligence and virtualization. VIAVI is also a leader in light management solutions for the anti-counterfeiting, consumer electronics, industrial, government and automotive markets. Learn more about VIAVI at www.viavisolutions.com. Follow us on VIAVI Perspectives, LinkedIn, Twitter, YouTube ...