VIAVI reported revenue of $263.6 million for its fourth fiscal quarter ended July 1, 2023, down from $335.3 million for the same period a year earlier.
GAAP net loss was $(0.1) million, or $— per share. Non-GAAP net income was $22.7 million, or $0.10 per share.
"During the 2023 fiscal fourth quarter, we saw initial signs of stabilization and gradual recovery. Despite the slowdown in overall service provider spend, some service providers have begun to free up funds for network maintenance and optimization, which benefits VIAVI's NSE business segment. As a result, our fiscal fourth quarter revenue came in above the higher end of our guidance range. We expect the stabilization and recovery momentum to continue throughout our fiscal year," said Oleg Khaykin, VIAVI's President and Chief Executive Officer.
- Network Enablement revenue was $173.3 million, down 22% yoy
- Service Enablement revenue was $24.6 million, up 2.5% yoy
- Optical Security and Performance produce revenue was $65.7 million, down 26.3%
- Americas, Asia-Pacific and EMEA customers represented 41.0%, 32.4% and 26.6%, respectively, of total net revenue for the quarter ended July 1, 2023.
