Welcome to our dedicated page for Viavi Solutions news (Ticker: VIAV), a resource for investors and traders seeking the latest updates and insights on Viavi Solutions stock.
Viavi Solutions Inc. (NASDAQ: VIAV) is a global leader in providing network test, monitoring, and assurance solutions. The company caters to a broad array of customers including telecommunications service providers, enterprises, network equipment manufacturers, and various governmental and military entities. Viavi's innovative software and hardware platforms offer end-to-end visibility across physical, virtual, and hybrid networks, delivering precise intelligence and actionable insights that enhance the service experience, boost customer loyalty, increase profitability, and accelerate transitions to next-generation technologies.
In addition to its core networking solutions, Viavi excels in anti-counterfeiting technologies for currency authentication and produces advanced optical components for a wide range of applications across industries such as electronics, automotive, aerospace, and defense. The company's operations are divided into three main segments: Network Enablement, Service Enablement, and Optical Security and Performance Products.
Recently, Viavi has made significant strides in 6G and AI research through its 6G Forward Program, collaborating with Northeastern University's Institute for Wireless Internet of Things. This partnership focuses on developing a city-scale digital twin of a 6G network using AI and ML technologies. The company has also introduced performance testing capabilities for Post-Quantum Cryptography (PQC) system deployments, addressing emerging security threats posed by quantum computing.
Other notable updates include Viavi joining the Strategic Board of the OpenAirInterface Software Alliance to advance open-source initiatives within the telecommunications industry and the launch of their altGNSS GEO SecureTime services, which provide nanosecond-accurate UTC timing for critical infrastructure independently of traditional GPS and GNSS.
Financially, Viavi reported a net revenue of $246.0 million for the third fiscal quarter of 2024, with ongoing challenges in the service provider and enterprise segments. Despite these hurdles, the company remains committed to innovation and collaboration, continually evolving to meet the demands of the ever-changing technology landscape.
VIAVI Solutions (NASDAQ: VIAV) has published its 15th consecutive State of the Network survey, emphasizing that 70% of IT teams prioritize end-user experience. Despite this focus, challenges such as network visibility and problem domain isolation persist, particularly with the growing demand for bandwidth. Key findings indicate that 57% of organizations plan to adopt 800Gb connectivity by 2024, while 49% of IT teams dedicate significant time to troubleshooting Unified Communications and Collaboration (UCC) issues. Most organizations believe the benefits of cloud modernization outweigh its costs.
On November 17, 2022, Viavi Solutions (NASDAQ: VIAV) announced the opening of a new production facility in Chandler, Arizona. This facility enhances U.S. manufacturing capacity and reinforces the company's local presence, following its global headquarters move. The facility has an initial capital investment of nearly $100 million and is projected to contribute $50 million in payroll taxes. Viavi reported $1.3 billion in revenue for FY 2022 and aims to expand its capabilities in optical technologies.
Viavi Solutions (VIAV) announced a partnership with VMware on Nov. 9, 2022, to establish a Testbed as a Service for RAN Intelligent Controller (RIC) testing. This collaboration aims to standardize frameworks and metrics, facilitating mobile operators' adoption of Open RAN. The RIC will optimize resources through analytic processing, helping to reduce costs and introduce new services. Viavi, a leader in Open RAN testing, will support operators in validating solutions, expediting their transition to production environments.
VIAVI reported a net revenue of $310.2 million for Q1 fiscal 2023, reflecting a 5.1% decline year-over-year. Despite the revenue drop, GAAP EPS surged 158.3% to $0.14, compared to a loss of $0.24 in Q1 2022. Non-GAAP EPS decreased 4.2% to $0.23. The operating margin improved to 16.1%, marking a 170 basis points increase year-over-year. Net income was $32.6 million. Looking ahead, the company forecasts Q2 net revenue between $261 million and $281 million with non-GAAP EPS between $0.10 and $0.12.
Viavi Solutions Inc. (NASDAQ: VIAV) will release its fiscal Q1 2023 financial results on November 3, 2022, after market close. The earnings call is scheduled for 1:30 PM PDT (4:30 PM EDT) and will be accessible via webcast on the VIAVI website. Investors can participate by calling the toll-free number (888) 330-2384. This announcement follows the period ended October 1, 2022. Additional resources, including the earnings press release and financial tables, will be available online for stakeholders.
VIAVI Solutions Inc. (NASDAQ: VIAV) announced the acquisition of Jackson Labs Technologies, a leader in Position, Navigation and Timing (PNT) solutions. This strategic move enhances VIAVI's offerings in military and civilian applications, complementing their timing and synchronization portfolio. Jackson Labs' advanced technology is poised to meet the growing PNT requirements in defense, telecommunications, and transportation sectors. This acquisition is expected to expand Jackson Labs' global reach while improving operational scale for VIAVI.
Viavi Solutions (NASDAQ: VIAV) is presenting cutting-edge testing solutions at ECOC 2022 in Basel, Switzerland, focusing on advances in Optical Transport Networks (OTN). The company is highlighting its ONT-800 platform that supports OTN standards up to 400 Gbps, enhancing network capacity management. Additionally, VIAVI is involved in a multi-vendor OIF interoperability event, showcasing its technology's readiness for widescale deployment.
Viavi Solutions Inc. (NASDAQ: VIAV) announced a new stock repurchase program of up to $300 million, effective October 1, 2022, replacing the previous $200 million program. This initiative allows for share repurchase through various methods and aligns with favorable market conditions. Additionally, VIAVI reconfirmed its guidance for the first fiscal quarter of 2023, estimating revenue between $317 million and $331 million, with a non-GAAP EPS target of $0.22 to $0.24.
On September 1, 2022, Viavi Solutions Inc. (NASDAQ: VIAV) released its 2022 Environmental, Social, and Governance (ESG) Report, detailing its sustainability efforts across global operations for fiscal 2022. Key highlights include a 42% reduction in CO2 emissions since 2015, initiatives leading to significant energy savings, and a commitment to diversity in its workforce, comprising 3,600 employees from over 30 nationalities. The report aligns with TCFD recommendations, showcasing Viavi's dedication to long-term value creation through responsible business practices.
VIAVI Solutions (NASDAQ: VIAV) has been chosen by Kyrio, a subsidiary of CableLabs, to participate in the O-RAN Test and Integration Lab in Colorado. This makes VIAVI the only test and measurement company represented in all seven globally approved Open Testing and Integration Centres (OTICs). The lab aims to support vendors in validating O-RAN standards using VIAVI's advanced testing capabilities. With a comprehensive O-RAN test suite and a reputation within the global community, VIAVI is pivotal in facilitating O-RAN compliance and certification, enhancing market expansion opportunities.
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