Viav Solutions: Fiscal 4Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ Viavi Solutions Inc. (VIAV) on Thursday reported fiscal fourth-quarter net income of $12.5 million, after reporting a loss in the same period a year earlier.
The San Jose, California-based company said it had profit of 5 cents per share. Earnings, adjusted for one-time gains and costs, came to 17 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The communications equipment company posted revenue of $289.7 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $280.5 million.
For the year, the company reported net income of $5.4 million, or 2 cents per share, swinging to a profit in the period. Revenue was reported as $1.13 billion.
For the current quarter ending in October, Viav Solutions expects its per-share earnings to range from 14 cents to 16 cents.
The company said it expects revenue in the range of $273 million to $293 million for the fiscal first quarter.
Viav Solutions shares have increased 35% since the beginning of the year.