Exhibit 99.1
VIAVI ANNOUNCES THIRD QUARTER FISCAL 2021 RESULTS
Third Quarter
Net revenue of $303.4 million, up $47.2 million or 18.4% year-over-year
GAAP operating margin of 11.8%, up 820 bps year-over-year
Non-GAAP operating margin of 20.2%, up 540 bps year-over-year
GAAP EPS of $0.05, up $0.19 or 135.7% year-over-year
Non-GAAP EPS of $0.18, up $0.04 or 28.6% year-over-year

Scottsdale, Arizona, May 4, 2021
— VIAVI (NASDAQ: VIAV) today reported results for its third fiscal quarter ended April 3, 2021.

Third quarter of fiscal 2021 net revenue was $303.4 million. GAAP net income was $11.8 million, or $0.05 per share. Non-GAAP net income was $42.3 million, or $0.18 per share.

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.

Third quarter of fiscal 2020 net revenue was $256.2 million. GAAP net loss was $(32.8) million, or $(0.14) per share. Non-GAAP net income was $32.0 million, or $0.14 per share.

“Fiscal Q3 2021 posted record revenue and non-GAAP profitability for a March quarter, typically a seasonally weak quarter period. VIAVI exceeded the high end of the guidance range with the revenue at $303.4 million and non-GAAP operating margin at 20.2%. Non-GAAP EPS at $0.18 reached the high end of the range,” said Oleg Khaykin, VIAVI’s President and Chief Executive Officer. NSE revenue continued to see strong recovery momentum and exceeding our expectations, up 12.9% from a year ago levels led by strength in Fiber, Cable, and Wireless. OSP revenue came in-line with our guidance, up 33.2% year-on-year due to strong demand in both Anti-Counterfeiting and 3D Sensing.”

Khaykin added, “For Q4, we expect NSE revenue to continue to strengthen, driven by strong demand for Field Instruments and Lab Equipment. OSP revenue is expected to be significantly up year-on-year, but sequentially down from a very strong fiscal Q3, driven by lower Anti-Counterfeiting and seasonally weaker 3D Sensing demand.”

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, May 4, 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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