VIAVI ANNOUNCES FIRST QUARTER FISCAL 2019 RESULTS
Net revenue of $268.5 million, up $77.6 million or 40.6% year-over-year
GAAP operating margin of (0.4)%, down 390 bps year-over-year
Non-GAAP operating margin of 16.3%, up 260 bps year-over-year
GAAP EPS of $(0.07), down $0.04 or (133.3)% year-over-year
Non-GAAP EPS of $0.15, up $0.05 or 50.0% year-over-year
In October we acquired RPC Photonics, a technology leader in engineered diffuserTM to expand our 3D Sensing offering
San Jose, California, November 1, 2018 — VIAVI (NASDAQ: VIAV) today reported results for its first fiscal quarter ended September 29, 2018.
First quarter of fiscal 2019 net revenue was $268.5 million. GAAP net loss was $(15.3) million, or $(0.07) per share. Non-GAAP net income was $35.2 million, or $0.15 per share.
Fourth quarter of fiscal 2018 net revenue was $260.7 million. GAAP net loss was $(29.2) million or $(0.13) per share. Non-GAAP net income was $27.1 million, or $0.12 per share.
First quarter of fiscal 2018 net revenue was $190.9 million. GAAP net loss was $(7.6) million, or $(0.03) per share. Non-GAAP net income was $22.3 million, or $0.10 per share.
“We delivered solid results in fiscal Q1 2019, driven by better than expected demand in our key growth areas of Fiber, 5G wireless, and 3D Sensing,” said Oleg Khaykin, VIAVI’s President and Chief Executive Officer. “However, our strong performance in Fiber, 5G wireless and 3D Sensing was dampened by the continuing weak spending by the North American service providers. Despite that, our NSE business segment delivered solid non-GAAP operating results, helped by a richer product mix and operating expense management. We expect fiscal Q1 business trends to continue into Q2.”
Khaykin added, “On October 30, we completed the acquisition of RPC Photonics, Inc. a technology leader in engineered optical diffusers used for 3D Sensing and other related applications. With this acquisition, VIAVI now has a strong presence in both the projector and camera of the 3D Sensing module. This acquisition significantly increases our 3D Sensing available market opportunity.”
The 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 reconciliation between GAAP and non-GAAP measures is contained in this release under the section titled “Use of Non-GAAP (Adjusted) Financial Measures.”
The following information was filed by Viavi Solutions Inc. (VIAV) on Thursday, November 1, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.