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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. (VIAV) has launched the PNT-6200 Series Assured Reference, enhancing resilience in positioning, navigation, and timing (PNT). This solution, stemming from VIAVI's acquisition of Jackson Labs Technologies in November 2022, targets telecommunications, avionics, and military markets. The PNT-6200 aims to safeguard critical infrastructure from threats like GPS spoofing and jamming, providing various timing source integrations including Low Earth Orbit and atomic clock services. The product will debut at MWC Barcelona from February 27 to March 2, 2023.
VIAVI reported its second quarter fiscal 2023 results, with net revenue of $284.5 million, a decline of 9.6% year-over-year. GAAP net income was $8.4 million or $0.04 per share, down 71.4% from the prior year. Non-GAAP EPS also fell to $0.14, a 41.7% decrease. Despite a strong cash flow generation exceeding $70 million in the first half, the company initiated a restructuring plan affecting 5% of its workforce with estimated charges of $15 million. For Q3 2023, the company forecasts revenues between $256 million and $276 million with non-GAAP EPS of $0.10 to $0.12.
VIAVI Solutions Inc. (NASDAQ: VIAV) is set to disclose its fiscal second quarter 2023 financial results for the period ending December 31, 2022, on February 2, 2023, after market close. An earnings call will take place at 1:30 PM PT, where the results will be discussed. Investors can access the live webcast via the VIAVI investor relations website. The quarterly earnings press release, supplementary slides, and historical financial tables will be made available in the "Quarterly Results" section of their website.
Viavi Solutions Inc. (VIAV) announced its participation in the Fall 2022 O-RAN PlugFest, organized by the O-RAN ALLIANCE, showcasing its technology's growing acceptance in the industry. This event involved extensive testing across multiple countries and included contributions from major vendors like Nokia. The PlugFest enabled benchmarking, validation, and testing of O-RAN specifications, emphasizing interoperability and performance. Viavi's test suite supports comprehensive testing for O-RAN networks, facilitating the commercialization of O-RAN technology.
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.
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