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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 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.
Viavi Solutions Inc. (VIAV) released findings from its "2021 Network Test Survey," indicating key trends in network testing among communications service providers. Notably, 78% of respondents emphasized virtualization, while 70% cited automation and network slicing as critical technology trends. The pandemic significantly influenced testing practices, with 85% of service providers reducing in-person technician visits. Additionally, 93% believe testing enhances customer satisfaction. The report reveals that most CSPs prioritize network performance to improve user experience, aligning with the ongoing shift towards advanced testing solutions.
Viavi Solutions Inc. (VIAV) announced collaboration with Mavenir to validate radio access solutions in the U.S. Their lab platform is utilized globally, measuring network performance across various technologies. The partnership aims to enhance 5G capabilities, which saw a subscriber base of 229 million in December 2020, highlighting its rapid growth. With the expansion of mobile networks, VIAVI's testing tools simulate real-world conditions, crucial for network operators adapting to new technologies.
On January 12, 2021, Viavi Solutions (VIAV) recognized Tokyo Denki Sangyo (TDS) and Butler Technologies as winners of its 2020 Velocity Partner Program Pinnacle Award. The award honors top-performing channel partners based on financial performance. TDS, a long-term partner in Japan, has enhanced brand awareness and sales through collaboration with VIAVI, while Butler Technologies, also a repeat winner, expanded into new markets including the U.K. and U.S. Both companies showcased sustained growth and commitment to delivering innovative solutions in their respective regions.
Viavi Solutions Inc. (NASDAQ: VIAV) will release its fiscal second quarter 2021 financial results for the period ending January 2, 2021, on February 2, 2021, after market close. An earnings call will occur at 1:30 PM PDT/4:30 PM EDT, with a live webcast available on the VIAVI website. Participants can join by phone, with details provided for toll-free and international access. Historical financial data will be posted online. VIAVI specializes in network test and monitoring solutions for various sectors, ensuring clients can optimize their network performance.
VIAVI Solutions (VIAV) announced its acceptance into the ServiceNow Technology Partner Program on December 16, 2020. This membership allows VIAVI to integrate its advanced monitoring and assurance solutions into ServiceNow's service management platforms for communication service providers and enterprises. The collaboration aims to enhance digital transformations, focusing on 5G, broadband, and cloud networks. Paul McNab, Chief Marketing & Strategy Officer, emphasized the need for optimized service experiences amid evolving network technologies.
Viavi Solutions (VIAV) announced a licensing agreement with Viko Optics Technical Co., Ltd. for the use of its patented low angle shift (LAS) filters in 3D sensing technology. This partnership highlights Viavi's leadership in creating advanced optical filters crucial for gesture-recognition systems, which utilize near-infrared light. The CEO of Viavi emphasized the company's innovative optical design and global manufacturing capabilities. The terms of the agreement remain confidential.
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