Business
VIAVI ANNOUNCES THIRD QUARTER FISCAL 2022 RESULTS
Third Quarter Net revenue of $315.5 million, up $12.1 million or 4.0% year-over-yearGAAP operating margin of 12.9%, up 110 bps year-over-yearNon-GAAP
About this update from Viavi Solutions Inc.
[{"type":"text","content":"Third Quarter\nNet revenue of $315.5 million, up $12.1 million or 4.0% year-over-yearGAAP operating margin of 12.9%, up 110 bps year-over-yearNon-GAAP operating margin of 21.5%, up 130 bps year-over-yearGAAP EPS of $0.08, up $0.01 or 14.3% year-over-yearNon-GAAP EPS of $0.22, up $0.04 or 22.2% year-over-yearSCOTTSDALE, Ariz., May 3, 2022 /PRNewswire/ -- VIAVI (NASDAQ: VIAV) today reported results for its third fiscal quarter ended April 2, 2022.\n\n \n \n \n \n \n \n\n \nThird quarter of fiscal 2022 net revenue was $315.5 million. GAAP net income was $19.2 million, or $0.08 per share. Non-GAAP net income was $52.0 million, or $0.22 per share.\nSecond quarter of fiscal 2022 net revenue was $314.8 million. GAAP net income was $34.6 million or $0.14 per share. Non-GAAP net income was $59.3 million, or $0.24 per share.\nThird quarter of fiscal 2021 net revenue was $303.4 million. GAAP net income was $17.2 million, or $0.07 per share. Non-GAAP net income was $42.3 million, or $0.18 per share.\n\"In fiscal Q3, VIAVI achieved new highs in revenue and non-GAAP operating profit for a March quarter. Business strength was led by Fiber and Wireless products with Anti-Counterfeiting and 3D Sensing products demand recovering from the December quarter,\" said Oleg Khaykin, VIAVI's President and Chief Executive Officer. \"Revenue came in at $315.5 million, up 4.0% year-over-year, exceeding our guidance range of $301 to $315 million.\"\nKhaykin added, \"As we look ahead, we expect fiscal 2022 to be another record year for revenue and profitability. We also continue to execute well on our plan to improve our capital structure to enable us to achieve financial flexibility. During fiscal Q3, we redeemed an additional $50.0 million in convertible notes which brings us to a cumulative principal retirement of 54% in fiscal 2022.\"\nFinancial Overview:\nThe tables below (in millions, except percentage, and per share data) provide comparisons of quarterly results to prior periods, including sequential quarterly and year-over-year changes. A full reconciliation between the GAAP and non-GAAP measures included in the tables is contained in this release under the section titled \"Use of Non-GAAP (Adjusted) Financial Measures.\"\nThird Quarter Ended April 2, 2022\nGAAP Results\nQ3\nQ2\nQ3\nChange\nFY 2022\nFY 2022\nFY 2021\nQ/Q\nY/Y\nNet revenue\n$ 315.5\n$ ...