Tuesday, February 2, 2021

Viavi posts sales of $299.9 million, down 4.4%

Viavi Solutions reported net revenue of $299.9 million for its second fiscal quarter ended January 2, 2021, down $13.8 million or 4.4% year-over-year.

“Fiscal Q2 delivered better than expected revenue and profitability, exceeding our guidance, with non-GAAP operating margin at 22.3% and non-GAAP EPS at $0.23. OSP experienced stronger than expected demand from both Anti-Counterfeiting and 3D Sensing products. NSE revenue rebounded sequentially, driven by the continued recovery of service provider activities and the continued strength in Lab & Production demand,” said Oleg Khaykin, VIAVI’s President and Chief Executive Officer.

“For Q3, we expect OSP demand to remain unseasonably strong, reflecting stronger demand for 3D Sensing products and especially strong demand for Anti-Counterfeiting products. NSE revenue is expected to be higher year-on-year, driven by continued recovery in Field Instruments demand and continued strength in Lab & Production.”

Khaykin added, “Calendar 2021 is expected to be a revenue recovery year driven by the secular demand strength in 5G Wireless, Fiber, 3D Sensing and Anti-Counterfeiting.”