Viavi Solutions Inc.
Viavi Solutions Reports Fiscal Q3 2024 Results with Earnings Miss
Summary
Viavi Solutions Inc. reported preliminary results for its fiscal third quarter ended March 30, 2024, showing a net revenue of $246.0 million, down 0.7% year-over-year. GAAP diluted EPS was $(0.11), a 57.1% decline from the prior year, resulting in a net loss of $24.6 million. Non-GAAP diluted EPS was $0.06, down 25.0% year-over-year. The company experienced declines in both GAAP and non-GAAP operating margins. For the fourth quarter of fiscal 2024, Viavi expects net revenue between $246 million and $258 million and non-GAAP EPS between $0.06 and $0.08.
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About Viavi Solutions Inc.
Viavi Solutions Inc. is a leading global provider of network test, monitoring, and assurance solutions for communications service providers, enterprises, and network equipment manufacturers. With a diverse product portfolio, the company plays a critical role in enabling the smooth operation and optimization of networks worldwide. Viavi's offerings include advanced fiber optic testing solutions, wireless RF performance tools, and network performance monitoring software. These products are crucial in sectors such as telecommunications, aerospace & defense, and manufacturing, where they help ensure the reliability and efficiency of complex networks. Founded in 1923 and headquartered in San Jose, California, Viavi has established a significant presence in the market, known for its innovation and expertise in network testing tools. The company's solutions are instrumental in addressing the demands of rapid technological advancements and the growing need for high-speed, reliable connectivity. With the evolution of networks towards 5G and beyond, Viavi Solutions Inc. remains at the forefront, providing essential technologies that support the deployment and maintenance of next-generation communications infrastructure.
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