Citing a challenging market, VIAVI reported quarterly revenue of $246.0 million, down $1.8 million or 0.7% year-over-year. GAAP net loss was $(24.6) million, or $(0.11) per share. Non-GAAP net income was $13.2 million, or $0.06 per share.
"VIAVI end markets spend environment continues to be challenging, particularly the service providers and enterprise customer segments. In view of these continued headwinds, our revenue came in at the lower end of our guidance, with stronger OSP demand partially offsetting weaker than expected NSE demand. Our EPS came in at the lower half of our guidance range, driven by lower NSE volume and less favorable product mix" said Oleg Khaykin, VIAVI's President and Chief Executive Officer.
- Americas, Asia-Pacific and EMEA customers represented 35.9%, 36.5% and 27.6%, respectively, of total net revenue for the quarter ended March 30, 2024.
- As of March 30, 2024, the Company held $486.1 million in total cash, short-term investments and short-term restricted cash.
- As of March 30, 2024, the Company had $250 million aggregate principal amount of 1.625% Senior Convertible Notes and $400 million aggregate principal amount of 3.75% Senior Notes with a total net carrying value of $634.4 million.
- During the fiscal quarter ended March 30, 2024, the Company generated $19.5 million of cash flows from operations.
