Exhibit 99.1
VIAVI ANNOUNCES SECOND QUARTER FISCAL 2021 RESULTS
Second Quarter
Net revenue of $299.9 million, down $13.8 million or 4.4% year-over-year
GAAP operating margin of 14.1%, down 20 bps year-over-year
Non-GAAP operating margin of 22.3%, up 70 bps year-over-year
GAAP EPS of $0.09, down $0.03 or (25.0)% year-over-year
Non-GAAP EPS of $0.23, remained relatively flat year-over-year

Scottsdale, Arizona, February 2, 2021
— VIAVI (NASDAQ: VIAV) today reported results for its second fiscal quarter ended January 2, 2021.

Second quarter of fiscal 2021 net revenue was $299.9 million. GAAP net income was $21.9 million, or $0.09 per share. Non-GAAP net income was $52.1 million, or $0.23 per share.

First quarter of fiscal 2021 net revenue was $284.7 million. GAAP net income was $14.3 million or $0.06 per share. Non-GAAP net income was $48.3 million, or $0.21 per share.

Second quarter of fiscal 2020 net revenue was $313.7 million. GAAP net income was $28.0 million, or $0.12 per share. Non-GAAP net income was $55.6 million, or $0.23 per share.

“Fiscal Q2 delivered better than expected revenue and profitability, exceeding our guidance, with non-GAAP operating margin at 22.3% and non-GAAP EPS at $0.23. OSP experienced stronger than expected demand from both Anti-Counterfeiting and 3D Sensing products. NSE revenue rebounded sequentially, driven by the continued recovery of service provider activities and the continued strength in Lab & Production demand,” said Oleg Khaykin, VIAVI’s President and Chief Executive Officer. “For Q3, we expect OSP demand to remain unseasonably strong, reflecting stronger demand for 3D Sensing products and especially strong demand for Anti-Counterfeiting products. NSE revenue is expected to be higher year-on-year, driven by continued recovery in Field Instruments demand and continued strength in Lab & Production.”
 
Khaykin added, “Calendar 2021 is expected to be a revenue recovery year driven by the secular demand strength in 5G Wireless, Fiber, 3D Sensing and Anti-Counterfeiting.”

Financial Overview:

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 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.”
1

The following information was filed by Viavi Solutions Inc. (VIAV) on Tuesday, February 2, 2021 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.

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