VIAVI reported net revenue of $314.8 million for its second fiscal quarter ended January 1, 2022. GAAP net income was $34.6 million, or $0.14 per share. Non-GAAP net income was $59.3 million, or $0.24 per share.
“In fiscal Q2, VIAVI delivered its second highest revenue quarter with a record non-GAAP operating margin at 23.3%. Business strength was led by Fiber and Wireless products while 3D Sensing product demand improved during the quarter,” said Oleg Khaykin, VIAVI’s President and Chief Executive Officer. “NSE’s record non-GAAP operating margin at 18.7% reflects the strength of VIAVI’s business model, while OSP delivered a non-GAAP operating margin at 39.2%. We are pleased to achieve a non-GAAP EPS of $0.24 which ties a quarterly record high and surpassing the guidance range of $0.18 to $0.20.”
Khaykin added, “In addition to strong business performance, we also executed well on our plan to improve our capital structure. During fiscal Q2, we redeemed $45.6 million in convertible notes which brings us to approximately 47% retirement of the original convertible notes. As of February 2nd, we also repurchased approximately 10.9 million shares and exceeded the 10.6 million shares delivered during the September 2021 convertible note redemption transaction. We expect a combination of strong secular growth trends in 5G and fiber, along with our improved capital structure, to enable us to achieve our growth and shareholder return objectives.”
- Americas, Asia-Pacific and EMEA customers represented 39.9%, 28.9% and 31.2%, respectively, of total net revenue for the quarter ended January 1, 2022.
