VIAVI Announces First Quarter Fiscal 2022 Results

About this update from Viavi Solutions Inc.

[{"type":"text","content":"SCOTTSDALE, Ariz., Nov. 4, 2021 /PRNewswire/ --\n\n \n \n \n \n \n \n\n \nFirst Quarter\nNet revenue of $326.8 million, up $42.1 million or 14.8% year-over-year GAAP operating margin of 14.4%, up 340 bps year-over-year Non-GAAP operating margin of 22.7%, up 140 bps year-over-year GAAP EPS of $(0.24), down $0.32 or (400.0)% year-over-year Non-GAAP EPS of $0.24, up $0.03 or 14.3% year-over-yearVIAVI (NASDAQ: VIAV) today reported results for its first fiscal quarter ended October 2, 2021. \nFirst quarter of fiscal 2022 net revenue was $326.8 million. 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.\nFourth 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.\nFirst 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.\n\"In Q1, VIAVI delivered strong results despite supply chain challenges, achieving record revenue and non-GAAP profitability. End market strength came from Fiber, Wireless and Cable products in NSE and robust demand for Anti-Counterfeiting and 3D Sensing products in OSP,\" said Oleg Khaykin, VIAVI's President and Chief Executive Officer. \"As we look ahead, we expect the strong momentum in NSE to carry over into 2022.\"\nKhaykin added, \"In Q1, we also completed a $400 million high yield 2029 note offering at an attractive rate of 3.75% interest and retired about 40% of the convertible notes. This allows us to optimize our capital structure to provide financial flexibility to execute on our growth objectives namely, Wireless, Fiber, 3D Sensing and potential inorganic synergistic assets.\"\nFinancial Overview:\nThe tables below (in millions, except percentage, and per share data) provide comparisons of quarterly results to prior periods, including sequential quarterly and year-over-year changes. A full reconciliation between the GAAP and non-GAAP measures included in the tables is contained in this release under the section titled \"Use of Non-GAAP (Adjusted) Financial Measures.\"\nFirst Quarter Ended October 2, 2021\nGAAP Results\nQ1\nQ4\nQ1\nChange\nFY 2022\nFY 2021\nFY 2021\nQ/Q\nY/Y\nNet revenue\n$\n326.8\n$\n310.9\n$\n284....

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