Business
VIAVI ANNOUNCES FISCAL FOURTH QUARTER AND FISCAL YEAR 2024 RESULTS
Fourth Quarter Net revenue of $252.0 million, down $11.6 million or 4.4% year-over-yearGAAP operating margin of (2.3)%, down 680 bps year-over-yearNon-GAAP
About this update from Viavi Solutions Inc.
[{"type":"text","content":"Fourth Quarter\nNet revenue of $252.0 million, down $11.6 million or 4.4% year-over-yearGAAP operating margin of (2.3)%, down 680 bps year-over-yearNon-GAAP operating margin of 10.9%, down 80 bps year-over-yearGAAP Earnings per share (EPS) of $(0.10), down $0.10 year-over-yearNon-GAAP diluted EPS of $0.08, down $0.02 or 20.0% year-over-yearFiscal 2024\nNet revenue of $1.0 billion, down $105.7 million or 9.6% year-over-yearGAAP operating margin of 2.1%, down 530 bps year-over-yearNon-GAAP operating margin of 11.5%, down 410 bps year-over-yearGAAP EPS of $(0.12), down 0.23 or 209.1% year-over-yearNon-GAAP diluted EPS of $0.33, down $0.22 or 40.0% year-over-yearCHANDLER, Ariz., Aug. 8, 2024 /PRNewswire/ -- VIAVI (NASDAQ: VIAV) today reported results for its fourth quarter and fiscal year ended June 29, 2024.\n\nFourth quarter of fiscal 2024 net revenue was $252.0 million. GAAP net loss was $(21.7) million, or $(0.10) per share. Non-GAAP net income was $17.1 million, or $0.08 per share.\nThird quarter of fiscal 2024 net revenue was $246.0 million. GAAP net loss was $(24.6) million, or $(0.11) per share. Non-GAAP net income was $13.2 million, or $0.06 per share.\nFourth quarter of fiscal 2023 net revenue was $263.6 million. GAAP net loss was $(0.1) million, or $— per share. Non-GAAP net income was $22.7 million, or $0.10 per share.\n\"Fiscal 2024 was a challenging year for VIAVI, as the end market spend environment continued to be anemic throughout the year. For the fourth quarter, our revenue came at the mid-point of our guidance, with slightly stronger OSP revenues offsetting softer NSE demand. We believe the decline in NSE demand is bottoming out and expect to see gradual recovery in the second half of fiscal 2025,\" said Oleg Khaykin, VIAVI's President and Chief Executive Officer.\nFinancial Overview:\nThe tables below (in millions, except percentage, and per share data) provide comparisons of quarterly results to prior periods, including sequential quarterly and year-over-year changes. A full reconciliation between the GAAP and non-GAAP measures included in the tables is contained in this release under the section titled \"Use of Non-GAAP (Adjusted) Financial Measures.\"\nFourth Quarter Ended June 29, 2024\nGAAP Results\nQ4\nQ3\nQ4\nChange\nFY 2024\nFY 2024\nFY 2023\nQ/Q\nY/Y\nNet revenue\n$ 252.0\n$ 246.0\n$ 263.6\n2.4 %\n(4.4)...