CHANDLER, Ariz., Oct. 31, 2024 /PRNewswire/ — VIAVI (NASDAQ: VIAV) nowadays reported effects for its first quarter ended September 28, 2024 with please see highlights.

First Quarter

• Web earnings of $238.2 million, ill $9.7 million or 3.9% year-over-year
• GAAP working margin of four.8%, ill 170 bps year-over-year
• Non-GAAP working margin of 10.0%, ill 240 bps year-over-year
• GAAP web lack of $1.8 million, ill $11.6 million or 118.4% year-over-year
• Non-GAAP web source of revenue of $12.4 million, ill $7.1 million or 36.4% year-over-year
• GAAP diluted loss in step with percentage of $(0.01), ill $0.05 or 125.0% year-over-year
• Non-GAAP diluted profits in step with percentage (EPS) of $0.06, ill $0.03 or 33.3% year-over-year

“VIAVI’s Q1FY25 revenue came in slightly below the midpoint of our guidance, with weaker demand in NSE partially offset by stronger OSP performance. On a positive side, we are starting to see a pickup in the NSE order momentum with our advanced fiber products such as 800G and recently announced 1.6Tb, being particularly strong. This aligns with our expectations for the beginning of NSE demand recovery in second half of FY25,” mentioned Oleg Khaykin, VIAVI’s President and Important Government Officer.

Monetary Review:

The tables underneath (in thousands and thousands, aside from proportion, and in step with percentage knowledge) lend comparisons of quarterly effects to prior classes, together with sequential quarterly and year-over-year adjustments. A complete reconciliation between the GAAP and non-GAAP measures incorporated within the tables is contained on this reduce beneath the category titled “Use of Non-GAAP (Adjusted) Financial Measures.”

First Quarter Ended September 28, 2024

• Americas, Asia-Pacific and EMEA shoppers represented 37.2%, 36.1% and 26.7%, respectively, of overall web earnings for the quarter ended September 28, 2024.
• As of September 28, 2024, the Corporate held $497.9 million in overall coins, non permanent investments and non permanent limited coins.
• As of September 28, 2024, the Corporate had $250 million mixture primary quantity of one.625% Senior Convertible Notes and $400 million mixture primary quantity of three.75% Senior Notes with a complete web wearing price of $637.6 million.
• All the way through the fiscal quarter ended September 28, 2024, the Corporate generated $13.5 million of money flows from operations.

Trade Outlook for the 2nd Quarter of Fiscal 2025

For the second one quarter of fiscal 2025 finishing December 28, 2024, the Corporate expects web earnings to be between $255 million to $265 million and non-GAAP EPS to be between $0.09 to $0.11.

With appreciate to our expectancies above, the Corporate has no longer reconciled GAAP web loss in step with percentage to non-GAAP EPS on this press reduce as a result of it’s not able to lend a significant or correct estimate of sure reconciling pieces described within the “Use of Non-GAAP (Adjusted) Financial Measures” category underneath and the guidelines isn’t to be had with out unreasonable attempt because of the inherent issue of forecasting the timing and/or quantities of sure pieces, together with sure fees linked to restructuring, acquisition, integration and linked fees. As well as, the Corporate believes such reconciliations would indicate a point of precision that can be complicated or deceptive to buyers.

Convention Name

The Corporate will talk about those effects and alternative linked issues at 1:30 p.m. Pacific Week on October 31, 2024 in a reside webcast, which may also be archived for replay at the Corporate’s site at https://investor.viavisolutions.com.  The Corporate will submit backup slides outlining the Corporate’s untouched monetary effects on https://investor.viavisolutions.com beneath the “Quarterly Results” category at the same time as with this profits press reduce. This press reduce is being furnished as a Flow File on Mode 8-Okay with the Securities and Change Fee, and shall be to be had at www.sec.gov.

About VIAVI Answers

VIAVI (NASDAQ: VIAV) is an international supplier of community check, tracking and contract answers for telecommunications, cloud, enterprises, first responders, army, aerospace and railway. VIAVI could also be a pacesetter in sunny control applied sciences for 3-D sensing, anti-counterfeiting, client electronics, business, automobile, executive and aerospace programs.

Be told extra about VIAVI at www.viavisolutions.com. Practice us on VIAVI Views, LinkedIn and YouTube.

Ahead-Having a look Statements

This press reduce comprises forward-looking statements throughout the that means of Category 27A of the Securities Business of 1933 and Category 21E of the Securities Change Business of 1934. Those statements come with any expectation, probability or steering as to month monetary efficiency, together with month earnings, improper margin, working expense, working margin, profitability objectives, coins current and alternative monetary metrics, in addition to the have an effect on and length of sure developments and marketplace place and situations, together with marketplace stabilization and fix. Those forward-looking statements contain dangers and uncertainties that would motive unedited effects to fluctuate materially from the ones projected. Specifically, the Corporate’s talent to expect month monetary efficiency remains to be tricky because of, amongst alternative issues: (a) proceeding normal restricted visibility throughout a lot of our product strains; (b) quarter-over-quarter product combine fluctuations, which is able to materially have an effect on profitability measures because of the wide improper margin levels throughout our portfolio; (c) consolidations in our trade and buyer bottom; (d) aggressive pressures; (e) unexpected adjustments or deceleration within the call for for new and fresh merchandise, applied sciences, products and services, delays or unexpected occasions within the roll-out of fresh trade platforms or evolving era akin to 3-D sensing and buyer buying delays because of macroeconomic situations, tightening of expenditures or as they assess or transition to such fresh applied sciences and/or architectures, all of which prohibit near-term call for visibility, and may just negatively have an effect on doable earnings; (f) persisted abatement of moderate promoting costs throughout our companies; (g) important seasonality and an important degree of in-quarter book-and-ship industry; (h) diverse product and production transfers, web page consolidations, product discontinuances and restructuring and team of workers relief plans, together with expected price financial savings related to such plans; (i) demanding situations in execution of commercial technique; (j) demanding situations integrating the companies the Corporate has got and understanding all the anticipated advantages and financial savings; (ok) provide chain and fabrics constraints and the facility of our providers and word of honour producers to satisfy manufacturing and supply necessities to our forecasted call for; (l) doable disruptions or delays to our production and operations because of environment situations and herbal screw ups within the areas the place we perform, akin to wildfires, drought situations and linked aqua shortages in Arizona, in addition to wildfires in Northern California and linked blackouts and gear outages in that pocket; (m) the unsure and ongoing have an effect on to our provide chain of army conflicts, akin to the continued warfare between Russia and Ukraine and the continued warfare between Israel and Hamas and the growth of warfare within the Center East, together with in Lebanon and with Iran, price lists, sanctions and alternative business measures imposed by way of home and international governments, opposed movements and escalating tensions with international governments, together with China, and the opportunity of escalation of “trade wars,” cyber-attacks, and retaliatory measures; (n) the have an effect on of infectious defect outbreaks, epidemics, and pandemics on our monetary effects, revenues, buyer call for, industry operations and production and at the industry operations of our shoppers, word of honour producers and providers; and (o) inherent hesitancy linked to world markets, together with inflationary pressures, recessions, tightening financial coverage and liquidity, and the impact of such markets on call for for our merchandise. Those forward-looking statements contain dangers and uncertainties that would motive unedited effects to fluctuate materially from the ones projected. For more info at the dangers and uncertainties related to the Corporate’s industry, please please see the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” categories of the Corporate’s filings with the Securities and Change Fee, together with, however no longer restricted to, its annual record on Mode 10-Okay and quarterly reviews on Mode 10-Q. The forward-looking statements contained on this press reduce are made as of the month thereof and the Corporate assumes negative legal responsibility to replace such statements. We’ve no longer filed our Mode 10-Q for the quarter ended September 28, 2024. Consequently, all monetary effects described on this profits reduce must be regarded as initial, and are matter to modify to replicate any important changes or adjustments in accounting estimates, which are recognized previous to the pace we record the Mode 10-Q.

Touch Data

Traders:
Vibhuti Nayar
408-404-6305
[email protected]

Press: 
Amit Malhotra
202-341-8624
[email protected]

Please see monetary tables are introduced in response to GAAP, until another way specified.

-SELECTED PRELIMINARY FINANCIAL DATA –

Usefulness of Non-GAAP (Adjusted) Monetary Measures

The Corporate supplies non-GAAP improper margin, non-GAAP working margin, non-GAAP web source of revenue, non-GAAP EPS, EBITDA and altered EBITDA monetary measures as supplemental data in regards to the Corporate’s operational efficiency. The Corporate makes use of the measures disclosed on this reduce to judge the Corporate’s historic and potential monetary efficiency, in addition to its efficiency relative to its competition. In particular, control makes use of this stuff to additional its personal working out of the Corporate’s core working efficiency, which the Corporate believes constitute its efficiency within the familiar, ongoing and common process its operations. Accordingly, control excludes from core working efficiency pieces akin to the ones with regards to sure acquire worth accounting changes, amortization of acquisition-related intangibles, stock-based reimbursement, prison settlements, restructuring, adjustments in honest price of contingent attention liabilities and likely making an investment and acquisition linked bills and alternative actions that control believes don’t seem to be reflective of such familiar, ongoing and core working actions.

The Corporate believes offering this backup data permits buyers to peer Corporate effects in the course of the perceptible of control. The Corporate additional believes that offering this knowledge permits buyers to higher perceive the Corporate’s monetary efficiency and, importantly, to judge the efficacy of the technique and data worn by way of control to judge and measure such efficiency.

The non-GAAP changes described on this reduce are excluded by way of the Corporate from its GAAP monetary measures for the reason that Corporate believes aside from this stuff permits buyers to judge extra obviously and constantly the Corporate’s core operational efficiency. The non-GAAP changes are defined underneath.

Price of revenues, prices of analysis and building and prices of marketing, normal and administrative: The Corporate’s GAAP presentation of improper margin and working bills might come with (i) backup depreciation and amortization from adjustments in estimated helpful occasion and the write-down of sure component, apparatus and intangibles which have been recognized for disposal however remained in utility till the month of disposal, (ii) fees akin to severance, advantages and outplacement prices linked to restructuring plans, (iii) prices for amenities no longer required for ongoing operations, and prices linked to the relocation of sure apparatus from those amenities and/or word of honour producer amenities, (iv) stock-based reimbursement, (v) amortization expense linked to got intangibles, (vi) adjustments in honest price of contingent attention liabilities and (vii) alternative fees unrelated to our core working efficiency comprised principally of acquisition linked transaction prices, integration prices linked to got entities, litigation and prison settlements and alternative prices and contingencies unrelated to new and month operations, together with transformational projects such because the implementation of simplified automatic processes, web page consolidations, and reorganizations. The Corporate excludes this stuff in calculating non-GAAP improper margin, non-GAAP working margin, non-GAAP web source of revenue, non-GAAP EPS, EBITDA and altered EBITDA.

Non-cash hobby expense and alternative expense: The Corporate excludes sure making an investment bills, together with accretion of debt cut price, and alternative non-cash actions that control believes don’t seem to be reflective of such familiar, ongoing and core working actions, when calculating non-GAAP web source of revenue and non-GAAP EPS.

Source of revenue tax expense or get advantages: The Corporate excludes sure non-cash tax expense or get advantages pieces, such because the usage of web working losses the place valuation allowances had been absolved, intra-period tax allocation get advantages and the tax impact for amortization of non-tax deductible intangible belongings, when calculating non-GAAP web source of revenue and non-GAAP EPS.

Pastime, taxes, depreciation, amortization and alternative changes: The Corporate’s EBITDA calculation essentially excludes hobby source of revenue and alternative source of revenue (expense), hobby expense, taxes, depreciation and amortization, and alternative pieces that don’t seem to be a part of its core working efficiency described above. The Corporate’s adjusted EBITDA excludes pieces along with the pieces excluded from the EBITDA calculation, akin to stock-based reimbursement, restructuring, acquire or loss on sale of to be had for-sale investments, adjustments in honest price of contingent attention liabilities bobbing up from prior acquisitions and alternative fees linked to actions that don’t seem to be a part of its core working efficiency described above. Control believes adjusted EBITDA is a useful indicator of the Corporate’s core operational coins current.

Non-GAAP monetary measures don’t seem to be in response to, preferable to, or an spare for, in most cases approved accounting rules in the US. The GAAP measure maximum immediately similar to non-GAAP web source of revenue is web source of revenue. The GAAP measure maximum immediately similar to non-GAAP EPS is web source of revenue in step with percentage. The Corporate believes those GAAP measures unloved don’t seem to be totally indicative of its core working bills and function and that offering non-GAAP monetary measures together with GAAP measures supplies reliable supplemental data in regards to the Corporate’s general efficiency.

SOURCE VIAVI Financials

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