Viav Solutions: Fiscal 2Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ Viavi Solutions Inc. (VIAV) on Tuesday reported fiscal second-quarter net income of $13 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Jose, California-based company said it had profit of 6 cents. Earnings, adjusted for one-time gains and costs, came to 22 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The communications equipment company posted revenue of $306.9 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $281.3 million.
For the current quarter ending in April, Viav Solutions expects its per-share earnings to range from 11 cents to 13 cents.
The company said it expects revenue in the range of $247 million to $267 million for the fiscal third quarter.
Viav Solutions shares have climbed roughly 9 percent since the beginning of the year.