PR Newswire
MILPITAS, Calif., Aug. 15, 2017
MILPITAS, Calif., Aug. 15, 2017 /PRNewswire/ --
Fourth Quarter
Fiscal 2017
Viavi (NASDAQ: VIAV) today reported results for its fourth fiscal quarter and fiscal year ended July 1, 2017. Amounts presented below are on a continuing operations basis unless otherwise noted.
GAAP net revenue was $198.1 million, with net income of $12.1 million, or $0.05 per share. Prior quarter GAAP net revenue was $196.0 million, with net income of $26.0 million or $0.11 per share. GAAP net revenue for the fourth quarter of fiscal 2016 was $224.1 million, with net loss of $(64.5) million, or $(0.28) per share which included a non-cash goodwill impairment charge of $91.4 million related to our Service Enablement segment ("SE").
Non-GAAP net revenue was $198.1 million, with net income of $26.9 million, or $0.12 per share. Prior quarter non-GAAP net revenue was $196.0 million, with net income of $21.9 million, or $0.09 per share. Non-GAAP net revenue for the fourth quarter of fiscal 2016 was $224.1 million, with net income of $23.8 million, or $0.10 per share.
"Fiscal year 2017 saw continuous improvement in our year-on-year EPS as we focused on the quality of our revenues and reduced operating expenses, culminating with a strong finish in Q4 net income profitability," said Oleg Khaykin, Viavi's President and Chief Executive Officer. "Notable highlights during the year included restructuring our SE segment and positioning our OSP segment for the 3D sensing opportunity."
Khaykin added, "Looking ahead to fiscal 2018, we will continue to focus on revenue quality improvement and profit diversification, as we manage the cyclical business challenges to our core businesses. We are focusing on stabilizing and reversing the NSE revenue trend, aided by the expected recovery in North American service providers spend and our revamped product strategy. We also expect to realize initial 3D sensing revenue in the first half of fiscal 2018 with a greater ramp in the second half. The new revenue opportunity is timely and is expected to balance the typical business cyclicality of the anti-counterfeiting products."
GAAP net revenue for fiscal 2017 was $811.4 million, with net income of $165.3 million, or $0.70 per share. GAAP net revenue for fiscal 2016 was $906.3 million, with net loss of $(50.4) million, or $(0.22) per share which again included a non-cash goodwill impairment charge of $91.4 million related to SE.
Non-GAAP net revenue for fiscal 2017 was $811.4 million, with net income of $94.1 million, or $0.40 per share. Non-GAAP net revenue for fiscal 2016 was $906.3 million, with net income of $90.0 million, or $0.38 per share.
Financial Overview:
The tables below (in millions, except percentage data) provide comparisons of quarterly and annual results to prior periods, including sequential quarterly and year-over-year changes. A reconciliation between GAAP and non-GAAP measures is contained in this release under the section titled "Use of Non-GAAP (Adjusted) Financial Measures."
Fourth Quarter Ended July 1, 2017 | |||||||||||||||||
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| GAAP Results | ||||||||||||||||
| Q4 | | Q3 | | Q4 | | Change | ||||||||||
| FY 2017 | | FY 2017 | | FY 2016 | | Q/Q | | Y/Y | ||||||||
Net revenue | $ | 198.1 | | | $ | 196.0 | | | $ | 224.1 | | | 1.1 | % | | (11.6) | % |
Gross margin | 60.2 | % | | 59.7 | % | | 60.7 | % | | 50 bps | | (50) bps | |||||
Operating margin | 6.1 | % | | (7.8) | % | | (43.6) | % | | 1,390 bps | | 4,970 bps | |||||
| | | | | | | | | | | | | | | | | |
| Non-GAAP Results | ||||||||||||||||
| Q4 | | Q3 | | Q4 | | Change | ||||||||||
| FY 2017 | | FY 2017 | | FY 2016 | | Q/Q | | Y/Y | ||||||||
Net revenue | $ | 198.1 | | | $ | 196.0 | | | $ | 224.1 | | | 1.1 | % | | (11.6) | % |
Adj. Gross margin | 62.7 | % | | 62.2 | % | | 63.3 | % | | 50 bps | | (60) bps | |||||
Adj. Operating margin | 15.0 | % | | 11.9 | % | | 13.5 | % | | 310 bps | | 150 bps | |||||
| | | | | | | | | | | | | | | | | |
| GAAP and Non-GAAP Net Revenue by Segment | |||||||||||||||||||
| Q4 | | % of Net | | Q3 | | Q4 | | Change Werbung Mehr Nachrichten zur Viavi Solutions Aktie kostenlos abonnieren
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