VIAVI reported revenue of $315.5 million for its third fiscal quarter ended April 2, 2022, up from $303.4 million for the same period a year earlier. GAAP net income was $19.2 million, or $0.08 per share. Non-GAAP net income was $52.0 million, or $0.22 per share.
"In fiscal Q3, VIAVI achieved new highs in revenue and non-GAAP operating profit for a March quarter. Business strength was led by Fiber and Wireless products with Anti-Counterfeiting and 3D Sensing products demand recovering from the December quarter," said Oleg Khaykin, VIAVI's President and Chief Executive Officer. "Revenue came in at $315.5 million, up 4.0% year-over-year, exceeding our guidance range of $301 to $315 million."
Khaykin added, "As we look ahead, we expect fiscal 2022 to be another record year for revenue and profitability. We also continue to execute well on our plan to improve our capital structure to enable us to achieve financial flexibility. During fiscal Q3, we redeemed an additional $50.0 million in convertible notes which brings us to a cumulative principal retirement of 54% in fiscal 2022."
- Americas, Asia-Pacific and EMEA customers represented 34.5%, 36.3% and 29.2%, respectively, of total net revenue for the quarter ended April 2, 2022.
- As of April 2, 2022, the company held $596.0 million in total cash, short-term restricted cash and short-term investments.
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