VIAVI reported net revenue of $256.2 million for its third fiscal quarter ended March 28, 2020, down $9.0 million or (3.4)% year-over-year. GAAP net loss was $(32.8) million, or $(0.14) per share. Non-GAAP net income was $32.0 million, or $0.14 per share.
“Fiscal Q3 2020 revenue came in below our guidance range. The emerging COVID-19 pandemic was the principal driver behind the revenue shortfall. Despite that, through disciplined OPEX management, we managed to deliver the midpoint of our non-GAAP EPS guidance range, at 14 cents per share,” said Oleg Khaykin, VIAVI’s President and Chief Executive Officer. “The NSE business segment was most impacted by the COVID-19 headwinds, as our customers increasingly went into WFH and lockdown mode of operations and many purchase decisions were either pushed out or put on hold. The OSP business segment, on another hand, saw some late quarter customer order upsides and expedites, coming in above the revenue and non-GAAP operating margin guidance range.”
Americas, Asia-Pacific and EMEA customers represented 34.7%, 29.0% and 36.3%, respectively, of total net revenue for the quarter ended March 28, 2020.
