Viavi Solutions Inc. - VIAV STOCK NEWS

Viavi Solutions Inc. (VIAV) has been recognized as a Value Leader in the inaugural EMA Network Performance Management Radar report. The report evaluates 15 vendors on deployment efficiency, cost, and product strength. VIAVI's Observer platform is noted for its robust analytics capabilities and its ability to provide application insights. The platform aids technicians in troubleshooting and provides high-fidelity forensics through fast packet capture and enhanced data analysis. This recognition comes amidst increasing demands for effective network management in a rapidly evolving IT landscape.

Viavi Solutions (VIAV) announced a collaboration with Picocom to provide testing solutions for Open RAN base station components, essential for 5G networks. The partnership leverages Viavi's TM500 network tester, used globally, to validate performance in small cell networks compliant with O-RAN standards. This collaboration aims to meet diverse industry needs through effective testing and validation, advancing the adoption of Open RAN technology. Both companies emphasize the importance of interoperability testing and performance validation in driving market adoption.

VIAVI reported its fourth fiscal quarter results with net revenue of $310.9 million, a 16.6% increase from last year. Despite a GAAP EPS loss of $(0.01), non-GAAP EPS rose 22.2% to $0.22. For fiscal 2021, net revenue reached $1.2 billion, up 5.5% year-over-year. The GAAP operating margin was 11.9%, a 150 bps improvement. The company anticipates a strong 2022, driven by 5G deployment and Fiber upgrades, projecting first-quarter revenues between $303 million and $317 million.

VIAVI Solutions thanks EXFO minority shareholders for their support of a superior acquisition proposal at US$8.00 per share, urging rejection of Germain Lamonde's inferior US$6.00 going private offer. Shareholders are encouraged to exercise dissent rights for fair value and contest the fairness of the transaction at a hearing on August 20, 2021. Prior to the announcement on June 7, 2021, EXFO shares traded at US$3.70, indicating potential loss if Lamonde's offer proceeds. VIAVI emphasizes the need for the EXFO Special Committee to act in the best interests of all shareholders.

Viavi Solutions Inc. expressed disappointment over the rejection of its increased acquisition offer of US$8.00 per share for EXFO Inc. by Germain Lamonde and the EXFO Special Committee. This offer represents a premium of 116% over EXFO’s previous closing price before the going private announcement. Viavi criticizes Lamonde's US$6.00 per share proposal as inadequate and claims that it deprives minority shareholders of greater value. Viavi urges the EXFO Special Committee to fulfill its fiduciary duty and consider a deal that maximizes shareholder value.

VIAVI Solutions (NASDAQ: VIAV) has submitted an increased binding proposal to acquire EXFO (NASDAQ: EXFO) for $8.00 per share, representing a premium of 33⅓% over EXFO's current Going Private Transaction offer. The proposal values EXFO at approximately $459 million and includes a 116% premium over its closing price prior to the announcement of the Going Private Transaction. The proposal follows EXFO's strong fiscal Q3 results, driven by 5G and fiber network demand, with bookings up 47.2% year-on-year. VIAVI's offer intends to ensure significant value for all EXFO shareholders.

Viavi Solutions (NASDAQ: VIAV) will announce its fiscal Q4 and year-end 2021 financial results on August 12, 2021, after market close. The results cover the period ended July 3, 2021. Investors can join a conference call at 1:30 PM PDT / 4:30 PM EDT, with the opportunity to access a live webcast on the VIAVI website. A replay will be available from August 12 to August 19, 2021.

VIAVI provides network testing and assurance solutions across various sectors, emphasizing its leadership in light management solutions.

Viavi Solutions Inc. (VIAV) announced substantial growth in 5G coverage, with an additional four countries and 301 cities since January 2021, bringing the total to 1,662 cities across 65 countries. This marks a >20% increase this year. Leading countries include China (376 cities), the US (284), and the Philippines (95). New commercial 5G services were launched in Cyprus, Peru, Russia, and Uzbekistan. While 5G network rollout is expanding, differences in quality and speed exist based on frequency bands, underscoring the need for robust network assurance.

Viavi Solutions Inc. (VIAV) has launched the AVX-10K Flight Line Test Set, designed for efficient performance verification testing of critical airborne systems. This device streamlines the process for avionics technicians working in fixed-base operators (FBOs), manufacturing, and maintenance. It validates installation and performance during regulatory checks and integrates navigation, communication, and surveillance features. The AVX-10K offers a user-friendly interface and can be controlled remotely through the VIAVI Mobile Tech App, making it versatile for on-site testing.