AP NEWS

Viav Solutions: Fiscal 1Q Earnings Snapshot

October 30, 2019 GMT

SAN JOSE, Calif. (AP) _ Viavi Solutions Inc. (VIAV) on Wednesday reported fiscal first-quarter net income of $6.8 million, after reporting a loss in the same period a year earlier.

The San Jose, California-based company said it had net income of 3 cents per share. Earnings, adjusted for one-time gains and costs, were 18 cents per share.

The results surpassed 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 $299.8 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $288 million.

For the current quarter ending in January, Viav Solutions expects its per-share earnings to range from 18 cents to 20 cents.

The company said it expects revenue in the range of $292 million to $312 million for the fiscal second quarter.

Viav Solutions shares have increased 48% since the beginning of the year.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VIAV at https://www.zacks.com/ap/VIAV