Business
VIAVI Announces First Quarter Fiscal 2021 Results
First Quarter - Net revenue of $284.7 million, down $15.1 million or 5.0% year-over-year - GAAP operating margin of 11.0%, up 410 bps year-over-year -
About this update from Viavi Solutions Inc.
[{"type":"text","content":"First Quarter\n - Net revenue of $284.7 million, down $15.1 million or 5.0% year-over-year\n - GAAP operating margin of 11.0%, up 410 bps year-over-year\n - Non-GAAP operating margin of 21.3%, up 370 bps year-over-year\n - GAAP EPS of $0.06, up $0.03 or 100.0% year-over-year\n - Non-GAAP EPS of $0.21, up $0.03 or 16.7% year-over-year\n\n\nSAN JOSE, Calif., Nov. 5, 2020 /PRNewswire/ -- VIAVI (NASDAQ: VIAV) today reported results for its first fiscal quarter ended October 3, 2020.\n\n \n \n \n \n \n \n\n \nFirst quarter of fiscal 2021 net revenue was $284.7 million. GAAP net income was $14.3 million, or $0.06 per share. Non-GAAP net income was $48.3 million, or $0.21 per share.\nFourth quarter of fiscal 2020 net revenue was $266.6 million. GAAP net income was $26.7 million or $0.12 per share. Non-GAAP net income was $40.8 million, or $0.18 per share.\nFirst quarter of fiscal 2020 net revenue was $299.8 million. GAAP net income was $6.8 million, or $0.03 per share. Non-GAAP net income was $42.9 million, or $0.18 per share.\n\"Our OSP business segment delivered an all-time record quarterly revenue driven by strong demand in 3D Sensing and Anti-Counterfeiting products. Together with a stabilizing demand environment in NSE and operating expense control, we achieved a non-GAAP EPS at $0.21 which exceeded both the guidance range and a year ago levels,\" said Oleg Khaykin, VIAVI's President and Chief Executive Officer. \"We expect NSE revenue to continue recovering and strengthen sequentially driven by Field Instruments. OSP strength is expected to continue with modest pullback in 3D Sensing and Anti-Counterfeiting products, inline with fiscal Q2 seasonality.\"\nKhaykin added, \"The near-term macroeconomic uncertainty notwithstanding, we expect calendar 2021 to be a growth year driven by the secular demand for 5G Wireless, Fiber and 3D Sensing.\"\nFinancial Overview:\nThe 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.\"\nFirst Quarter Ended October 3, 2020\nGAAP Results\nQ1\nQ4\nQ1\nChange\nFY 2021\nFY 2020\nFY 2020\nQ/...