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.
Expandium, a VIAVI Solutions company (NASDAQ: VIAV), has partnered with Cervello to enhance cybersecurity and predictive maintenance in the railway industry. This strategic alliance aims to provide advanced monitoring solutions for telecom and signaling systems, particularly ETCS, GSM-R, and Interlocking. The partnership addresses rising cyber threats amidst increasing digitalization in rail operations, ensuring improved security and reliability for operators. Both companies are committed to delivering scalable cybersecurity solutions, facilitating more efficient railway operations.
Viavi Solutions Inc. (VIAV) announced the launch of new fiber test and measurement solutions, enhancing its portfolio for fiber optic testing. Key products include upgraded optical power meters, fiber characterization modules, and a revamped Optical Time Domain Reflectometer (OTDR) aimed at reducing costs and downtime for service providers and data centers. These innovations are designed to improve service quality and operational efficiency as the demand for fiber networks grows.
trinamiX GmbH and Viavi Solutions (VIAV) have announced a joint development agreement to create a Near-Infrared (NIR) spectrometer module for consumer devices. This partnership aims to advance smartphone capabilities, enabling features such as skincare product recommendations based on skin analysis. trinamiX specializes in miniaturizing NIR technology for smartphones, while VIAVI brings expertise in optical filters. This collaboration follows trinamiX's December 2020 announcement of integrating NIR spectroscopy into consumer devices, marking a significant milestone in enhancing user experience.
Viavi Solutions (VIAV) announced that Openreach, the UK's largest digital infrastructure firm, has selected its Optical Network Monitoring System (ONMSi) to enhance Full Fibre broadband deployment. This collaboration aims to improve network quality and customer experience while minimizing costly engineering visits. Openreach targets 20 million homes with fiber-to-the-premises by the late 2020s and is currently passing 42,000 premises weekly. The ONMSi platform is expected to drive efficiencies, ensuring high-quality network builds.
Viavi Solutions (NASDAQ: VIAV) will participate in the Morgan Stanley TMT Investor Conference on March 1, 2021. The event will feature a fireside chat with President and CEO Oleg Khaykin from 9:30 AM to 10:00 AM PT (12:30 PM to 1:00 PM ET). A live webcast will be available on the company’s website under the Events and Presentations section. Viavi Solutions specializes in network test, monitoring, and assurance solutions across various sectors, including telecommunications and defense.
Viavi Solutions Inc. (NASDAQ: VIAV) announced the appointment of Henk Derksen as Executive Vice President and Chief Financial Officer, effective March 15, 2021. Derksen, previously with Belden Inc., brings extensive financial and international management expertise to Viavi. He will oversee the global finance organization and contribute to the company's growth strategy and capital allocation, aimed at enhancing shareholder value. President Oleg Khaykin expressed excitement over Derksen's arrival, highlighting the importance of his experience in achieving operational leverage and scaling the business.
On February 17, 2021, Viavi Solutions Inc. (VIAV) released updates to its industry-first Test Suite for O-RAN Specifications. This suite enhances use cases critical for the scaling of open radio access networks (O-RAN), which aim to lower infrastructure costs and foster innovation. VIAVI's comprehensive test platform supports operators in ensuring conformance, interoperability, and performance in a multi-vendor environment. Key updates include O-RAN subsystem testing, transport network verification, and operational assurance. VIAVI will showcase these innovations at MWC Shanghai, February 23-25, 2021.
VIAVI Solutions Inc. (VIAV) has announced plans to establish a new manufacturing facility in Chandler, Arizona, in response to growing demand for its Optical Security and Performance Products (OSP). The company will also transition its headquarters to this location, creating at least 100 jobs by 2022. VIAVI generated $1.14 billion in revenue in fiscal year 2020 and operates globally in various markets, including telecommunications and 3D sensing technologies. Arizona's business-friendly environment and talent pool were key factors in this decision.
VIAVI reported second fiscal quarter results for 2021, with net revenue of $299.9 million, a 5.3% increase quarter-over-quarter but a 4.4% decline year-over-year. GAAP net income was $21.9 million ($0.09 per share), while non-GAAP net income reached $52.1 million ($0.23 per share). The Optical Security and Performance segment experienced stronger demand, particularly from Anti-Counterfeiting and 3D Sensing products. The company projects continued demand growth and anticipates Q3 revenues of $280 million to $300 million.
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