Business
VIAVI ANNOUNCES FOURTH QUARTER AND YEAR ENDED FISCAL 2023 RESULTS
Fourth Quarter Net revenue of $263.6 million, down $71.7 million or 21.4% year-over-yearGAAP operating margin of 4.5%, down 980 bps year-over-yearNon-GAAP
About this update from Viavi Solutions Inc.
[{"type":"text","content":"Fourth Quarter\nNet revenue of $263.6 million, down $71.7 million or 21.4% year-over-yearGAAP operating margin of 4.5%, down 980 bps year-over-yearNon-GAAP operating margin of 11.7%, down 960 bps year-over-yearGAAP EPS of $0.00, down $0.07 or 100.0% year-over-yearNon-GAAP EPS of $0.10, down $0.14 or 58.3% year-over-yearFiscal 2023\nNet revenues of $1.1 billion, down $186.3 million or 14.4% year-over-yearGAAP operating margin of 7.4%, down 690 bps year-over-yearNon-GAAP operating margin of 15.6%, down 660 bps year-over-yearGAAP EPS of $0.11, up $0.04 or 57.1% year-over-yearNon-GAAP EPS of $0.55, down $0.40 or 42.1% year-over-yearCHANDLER, Ariz., Aug. 10, 2023 /PRNewswire/ -- VIAVI (NASDAQ: VIAV) today reported results for its fourth fiscal quarter ended July 1, 2023.\n\n \n \n \n \n \n \n\n \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.\nThird quarter of fiscal 2023 net revenue was $247.8 million. GAAP net loss was $(15.4) million, or $(0.07) per share. Non-GAAP net income was $18.0 million, or $0.08 per share.\nFourth quarter of fiscal 2022 net revenue was $335.3 million. GAAP net income was $16.5 million, or $0.07 per share. Non-GAAP net income was $55.8 million, or $0.24 per share.\n\"During the 2023 fiscal fourth quarter, we saw initial signs of stabilization and gradual recovery. Despite the slowdown in overall service provider spend, some service providers have begun to free up funds for network maintenance and optimization, which benefits VIAVI's NSE business segment. As a result, our fiscal fourth quarter revenue came in above the higher end of our guidance range. We expect the stabilization and recovery momentum to continue throughout our fiscal year,\" 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.\"\n Fourth Quarter Ended July 1, 2023 \nGAAP Results\nQ4\nQ3\nQ4\nChange\nFY 2023\nFY 2023...