VIAVI reported net revenue of $284.7 million for its first fiscal quarter ended October 3, 2020, down from $299.8 million in the same period a year ago. First quarter of fiscal 2021 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.
"Our OSP business segment delivered an all-time record quarterly revenue driven by strong demand in 3D Sensing and Anti-Counterfeiting products. Together with a stabilizing demand environment in NSE and operating expense control, we achieved a non-GAAP EPS at $0.21 which exceeded both the guidance range and a year ago levels," said Oleg Khaykin, VIAVI's President and Chief Executive Officer. "We expect NSE revenue to continue recovering and strengthen sequentially driven by Field Instruments. OSP strength is expected to continue with modest pullback in 3D Sensing and Anti-Counterfeiting products, inline with fiscal Q2 seasonality."
Khaykin added, "The near-term macroeconomic uncertainty notwithstanding, we expect calendar 2021 to be a growth year driven by the secular demand for 5G Wireless, Fiber and 3D Sensing."
- Americas, Asia-Pacific and EMEA customers represented 33.5%, 38.0% and 28.5%, respectively, of total net revenue for the quarter ended October 3, 2020.
- As of October 3, 2020, the Company held $595.5 million in total cash, short-term restricted cash and investments.
