viavi earnings call

I think the issue here is really more on the EDGE because those are the technicians that have been sent home and we don't know what the rate they're going to be brought back and how quickly they going to be brought back. You've just got to make sure that the deal is right and the price is right. We reconcile these non-GAAP results to our preliminary GAAP financials and discuss their usefulness and limitations in today's earnings release. So one-third of that was because of that. Thank you. Well, I'd say our appetite always stays the same. The Algorithm predicts "% Predicted Move After Earnings Announcement" (PMAEA) for VIAV three weeks prior to earnings date. And I think that demand probably will come back in the first half of calendar 2021. Yes, sure. But it does sound like that spike that you had at the end of the quarter is probably not persisting in that OSP, excluding 3D, it should be down. Fiscal Q3 was a challenging quarter for Viavi as COVID-19 pandemic migrated from China to Europe and then to the US impacting our operations in R&D centers globally. Our miss to revenue guidance was largely a result of COVID-19 lockdown. I think the biggest headwind in 3D sensing is just fundamentally lower expected volumes of higher-end phones. While the visibility remains limited as to whether or not these positive trends would continue, we expected a minimum, the core OSP business to maintain its $50 million per quarter run rate for the next several quarters. So it was half of it was actions that we took in the past, as well as proactively. So you are saying that OSP is going to be in around the $50 million range, excluding 3D sensing, is what I heard you imply. Viavi Solutions EPS is expected to be around $0.13, according to sell-side analysts. NEW YORK, NY / ACCESSWIRE / November 5, 2020 / Viavi Solutions, Inc. (NASDAQ:VIAV) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on November 5, 2020 at 4:30 PM Eastern Time. Unlike with some of the capital products that the network service providers buy from the likes of Cisco and others, there, they have orders well in advance, and it's longer-term orders because part of their capital spend, most of the instrumentation falls under opex spend, and as such, the timing between the time we receive an order in the time we ship it is usually less than a quarter. So it's a smaller component of the field force and we continue to see shipments of instruments and orders to those parts of operations to be pretty strong. Are we talking about fiscal Q4? With that, I turn the call over to Oleg. Overall, for fiscal '21 as we are looking out, we are not assuming a V-shape recovery. What was your reported capex for the March quarter? So initially, when the notes are being distributed, they come out of inventory, which depletes their inventory of finished notes. While our growth products with NSE were roughly flat. Your line is open. In terms of the field operations, one of the things you see is, there is two types of technicians in the field. It's going to create more technical requirements. And I think for us, the model allocation or model mix aside, the biggest thing that we worry about is the ultimate total market demand. Viavi Solutions Inc. VIAV reported decent fourth-quarter fiscal 2020 (ended Jun 27, 2020) results, with the bottom and the top line surpassing the Zacks Consensus Estimate. So you're kind of on your own. I wanted to get an update on the rollout of 400 gig and how do you see that evolving over the next few quarters? Really. Historically, in a down market, service providers place more focus on maintaining and improving efficiency of their existing networks versus in new construction, which benefits some of our product NSE product lines. Is the booking or the mix of backlog different between the NE and OS? NSE gross margins at 64.3% increased 20 basis points year on year. So we'll continue to run those. OK. One is the optical networking. Thanks very much. The client maintenance is where we saw drop-off in demand, whereas in the core of the network that business continues to be pretty good. We spend about 3% to 5% of capex as a percentage of revenue in our business and what you should expect is we will continue to focus on making sure that we are maintaining a strong but very focused investment program which are targeted in our secular growth areas as we talk about in 5G, 3DS build-out, as well as fiber. Is there any change in the people you've talked to about willingness? So when we talk about our 400-gig rollout, that basically means we are selling production test equipment, as well as some of the lab equipment to these customers, both the module manufacturers, as well as the system manufacturers. Lumentum, formerly JDSU’s Communications and Commercial Optical … Our demand is much closer matched to what the customer actually builds and ships. Your next question comes from the line of Mehdi Hosseini of Susquehanna. We do believe that some of this demand is getting pushed out because at the end of the day, the service providers will have to continue with the construction and maintenance of the access side, both on the fiber, as well as on the cable side because the subscriber is demanding for higher bandwidth, and it's also willing to pay for the bandwidth. But it was more than offset by this trend we saw in anti-counterfeiting, as well as some of the expedited orders. NSE revenue at $187 million declined 9% year on year and was below the guidance range of $204 million to $220 million. So I mean, clearly, most people are used to just downloading the data, but now people are trying to-- we see significant increase in uploading. The MarketWatch News Department was not involved in the creation of this content. I think it's really issue of timing rate for most of the, I'd say, European, North American and some of the Asian operators. Correct. One last question if I could. Tim Savageaux -- Northland Capital Markets -- Analyst. And I don't know how it is where you live, but I know here in the Bay Area, you're pretty much told by your local service providers that they're not going to send any technicians to your house. Contact the source provider Comtex at editorial@comtex.com. Welcome to Viavi Solutions third quarter fiscal year 2020 earnings call. Nearly half of NSE revenue shortfall can be attributed to customer and logistics shutdown that resulted in shipments or acceptance getting delayed since no one was available at the customer side to receive products. Investor Network (IN) is a financial content community, serving millions of unique investors market information, earnings, commentary and news on what's trending. Copyright © 2021 MarketWatch, Inc. All rights reserved. We are seeing healthy demand on kind of midstream over the network. Well, first of all, I mean, remember, we have a different dynamic order than they do because if you're buying a semiconductor product like lasers, you have a much longer lead time, right? My name is Bill Ong, Head of Investor Relations. We have been working on this initiative for more than a year. Ian, let's begin the question-and-answer session. I would have thought that in this environment with people working from home and things like that that might have been a little bit weaker because you didn't have people in the labs sort of doing work. Additionally, we do not have any debt that is coming due for the next three years. And so I'm trying to understand what it is that's caused it to pull in. Also, we are seeing this demand continue into the Q4 and probably be on for the rest of the year, so a very strong demand across all segments. Previously, this call had been scheduled for 2:30pm PT. My name is Bill Ong, head of investor relations. The area that's still kind of remains a TBD is the EDGE and the number of opportunities that are outstanding there, that are pending, the resolution one, the rest of the workforce as it comes back to work. To receive updates for this company you can register by emailing info@investornetwork.com or by clicking get investment info from the company's profile. I think it usually takes a few quarters for things to percolate and settle down. Your next question comes from the line of John Marchetti of Stifel. While lab instruments across both wireless and optical combined was roughly flat. So that's why we don't really have, I would say, a long term. Stock Advisor launched in February of 2002. Welcome to Viavi Solutions third-quarter fiscal-year 2020 earnings call. So yes, we get a general forecast, but I mean, it can go up and down throughout the quarter. So when you say that the edge, which is a third NSE, you expect to be rather slow for two, three quarters, it's just based on your assumption that it would take some time for people to go back to work, and the work from home would phase out? Now, clearly, we know the customer problem is when they planning to place the orders, but the time between the time they place an order and the time they receive the product is within three months. So I think the shortfall that we saw in the field instruments, I don't think it's going to be. Viavi Solutions Inc. Common Stock (VIAV) Stock Quotes - Nasdaq offers stock quotes & market activity data for US and global markets. Our fiscal Q3 was a challenging quarter for Viavi as the COVID-19 pandemic impacted all businesses around the globe. I'm just curious sort of how you look at those two in this current environment right now. So what we have seen is the new technologies that are being rolled out continue to be aggressively pursuit. It sounds like the lab business held up fairly well. Somebody goes in 11 does the test, while other engineers can work remotely. But do you see that benefiting the core of the network or the wireless side more? You also don't get as much downdraft when things go down the other way. And that means usually opening up some of the less desirable bands with more noise and things like that, which require a lot of troubleshooting. Finally, we are recording today's call, and we'll make the recording available by 4.30 PM Pacific Time this evening on our website. You're talking about much more flatter kind of sequential declines. Is it reasonable to think that your appetite for acquisitions is higher in this environment? So I don't think we are shying away from doing a deal in this environment. A live webcast of the call and the repl... A live webcast of the call and the repl... VIAVI Announces Date … We expect these orders to recover when customers return to their normal mode of operations. Please also note that unless we state otherwise, all results except revenue are non-GAAP. SE gross margins at 69.3% expanded by 540 basis points from a year ago due to a favorable mix within our growth assurance, as well as data center product lines. [Operator instructions] I would now like to hand the conference over to your speaker today, Bill Ong, head of investor relations. Lab also comes in with a larger backlog compared to the field instrument business. I would now like to turn the call over to Amar. I see. Sure. I think the NSE business is mainly a book ship business, but within NSE, we have our SE business, and there is an assurance business which is software business where we have good backlog position. I'd say probably 80% of the demand happens within the quarter. It doesn't sound like there's much in the way of supply chain disruption, but for the fourth quarter, I guess, first question. Perhaps, if I may reword the question. Viavi Solutions Q3 2020 Earnings Call Transcript yahoo. I appreciate the color. It's not just increased traffic. So just trying to think about what the cost actions can do in terms of limiting that. Our 11 production products, which include 5G wireless and 400-gig fiber, delivered as expected. As I said during my prepared remarks, we did not see any 400-gig pushout. And how are you planning your capex within -- for the June quarter and the second half of calendar year? So just to add to that, John, in my prepared remark, I've said cable and access is we have access which is on the DSO side is where we saw most of the decline year on year, as well as the gap and within our guidance and what actually we reported. Or are you conserving cash and therefore choosing not to go that route? Well, the operating margin level is definitely lower on NE than it is with OSP. So we are shipping almost just in time. The forward-looking statements, including guidance we provide during this call are valid only as of today. Because we're not giving any particular guidance of fiscal Q4. Maybe, well, first off, can you quantify do you expect a similar impact that you would attribute to lockdowns? Your line is open. The release, plus our supplemental earnings slides, which includes historical financial tables are available on Viavi's website. Well, first of all, I don't think I said any revenues is indefinitely pushed out, I think it's kind of pushed out to the near-term as the -- well, I mean, definitely we assume the customer start coming back to work and they will make a decision. Well, right now, a lot of our demand -- I mean, we do have already some carrier demand, but it's really more related to trial installation and testing. Our total cash and short-term investments ending balance was $537.3 million. Well, so this particular pool in, I mean, first of all, just give you a bit more color on this thing. So I do think we're going to see a reduction in spend in those regions as they deal with the significant currency devaluation. Well, I think the-- so I think we are not seeing anybody reevaluating their spending. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The Company will host an earnings call at 1:30pm PDT / 4:30pm EDT. Post Earnings Announcement Drift for Viavi Solutions (VIAV) stock using historical stock earnings behavior to find patterns and strategies. Ladies and gentlemen, thank you for standing by, and welcome to the Viavi Solutions third-quarter 2020 earnings call. Viavi Tops Q3 Earnings Estimates, Withholds View mercredi, 22 avril 2020 advfn. Your line is open. Thanks. And so all our investments will continue to be guided based on what our strategic and operational and financial discipline that we are sort of exercising the last three to four years. We have almost a real-time demand. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our current expectations and estimations. Or is that just not occurring? And you wouldn't feel like it would be as positive as some of the infrastructure guys. So that's where we saw the slowdown in spend. That's why we have not experienced any supply chain disruption, because we are well prepared and have all the critical components in-house to be able to meet the 400-gig and 5G demand. But going into Q4, I think it was more prudent for us to assume that this is going to be the same as what we saw in Q3 with strength in lab, as well as in the mid-haul and the backhaul of the network. OK, got it. Within NSE, any gross margin at 63.6% declined 60 basis points year on year primarily due to lower revenue volumes. We are seeing healthy demand for the products that manage the core bandwidth, allocation and management. So in that respect, what we've seen and I've seen the same thing happen in 2008, 2009, key new products, some of the better companies use that opportunity to continue to accelerate product launches, so they can come out stronger and pick up share during the downturn. More toward the mid to low end versus the high-end, and we will continue to do that in the next three to four quarters. Your line is open. John Marchetti -- Stifel Financial Corp. -- Analyst. So that's how you should look at how we actually brought down our opex, right? Now clearly, one of the big things is recalling all the technicians back to work and that drives a lot of the edge demand for us. But the real forecast is really looking no more than like two to four weeks because we have a very short lead time. But we very effectively shifted to online media, and I think that's becoming very, very effective as we have more symposiums and events happening online. Your next question comes from the line of Samik Chatterjee of J.P. Morgan. We have a strong balance sheet and liquidity, which combined with our market leadership and disciplined cost management sets us up well to manage the impact. And to what extent do you think you're pulling from the back-half potential reprint opportunity? A live webcast of the call and the replay will be available on the VIAVI website at https://investor.viavisolutions.com. The OSP business segment responded well to the challenges of the pandemic lockdown and exceeded our guidance range expectations. Thank you, Amar. I think there's going to be some kind of content increase at the customer, but obviously, there is macro concerns. So hold on. I don't normally think of people expediting orders for pigments and security products. Many purchase decisions were either pushed out or placed on hold. So I mean, we are clearly happy with wherever the mix is going to be because we are playing in both sides of it. the advanced products, lab and production for 400 gig and 5G continue to be as strong as ever. So as there is some pause, even on the construction side, given the lockdown and construction is also an area where we sell to in addition to the maintenance at the edge of the network, so both those areas we see a pause. For OSP, we anticipate 3D-sensing product revenue, which is less than 10% of Viavi's annual revenue to be impacted by weaker end market demand for high-end smartphones. So sure. And then the other one-third was mainly as a result of some efficiency programs that we had in place and that will continue in the company. Read or listen to the conference call. It's great. And then more broadly, as you look at dynamics, like for example, cable operators reporting beyond record increases in subscribers in the March quarter and general trends across networks to see increased network traffic. IN is an Issuer Direct brand, to learn more or for the latest financial news and market information, visit www.investornetwork.com. Let me give you more color on that. So if you think about our field instruments, it's very much a book ship business within the quarter. See if you're connected. VIAVI Releases New Test and Alignment Software for the L3Harris Technologies XG Series Radios finance.yahoo.com Aug 11, 2020 6:30 am Preview: Viavi Solutions's Earnings So I just wanted to check a couple of things that you said. I mean, there is talk of the world-facing cameras. There are no further questions at this time. I mean, there has been-- it's been pretty chaotic and when people were suddenly told don't come to work, go home. And if I can just follow up with Amar, kind of what's the best level of opex to think about in which you will look to run the business before you're going to see the demand recovery come through? Welcome to Viavi Solutions third-quarter fiscal-year 2020 earnings call. The other half was a result of demand slowdown with orders pushed out into Q4 and beyond. So I've just taken a six-month window and said what that would be. I just want to follow up. In OSP, we expect stable demand for banknote reprints during the economic downturns, which would the result in steady demand for our anti-counterfeiting products. I mean, how do we reconcile the demand acceleration? So first of all, I mean, when we look at the new technology releases, right, which is now, we are in the midst of two big rollouts. Thank you very much. Fiscal Q3 revenue at 256.2 million declined 3.4% year on year and was below the guidance range of $268 million to $288 million. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. So I don't think we're going to see any additional demand beyond what we are planning that would make up any shortfall. That's the risk that we are seeing for ourselves. So just to put things in perspective, we do have another business, which is also field and that's on the avionic test, but that is less than 5% of the revenue, just from an overall Viavi perspective. So, I mean, that's down sequentially from where it was. You can also contact MarketWatch Customer Service via our Customer Center. And on the 3D sensing, 3D sensing came in a little below what we had forecasted. Thank you, everyone. However, we expect, anti-counterfeiting product demand to remain stable given that bank note reprints are typically countercyclical in recessionary periods. So as we emerge out of this recessionary period, we want to be much, much stronger than we are. So if I could just follow-up on that. Dedicated to both the professional and the average traders, IN offers timely, trusted and relevant financial information for virtually every investor. Hopefully, that gives you enough of color. And it will be multiple sockets. The company, Viavi Solutions Inc, is set to host investors and clients on a conference call on 8/11/2020 8:00:52 AM. Your line is open. When I talk about 60% fixed, it's fixed over six-month period, but anything, nine months, 12 months, everything is variable, right? One-third was mainly because we were able to quickly take a proactive action and freeze hiring. So if the right opportunity comes along, absolutely, we will definitely take a look at it. OK. When our Chinese operations got impacted by the lockdown, our California operations made up the difference. Viavi Solutions Inc. (NASDAQ:VIAV) Q1 2021 Earnings Conference Call November 5, 2020 4:30 PM ET Company Participants Bill Ong - Investor Relations Oleg Khaykin - … I mean, clearly, increased network traffic is good news for us. In fact, there is a strong demand for this product as is because I think the -- all our customers are seeing very healthy demand in the market even with the downturn. I mean, that kind of information you'll get from central banks. Add to Calendar. Yeah. Also, we have a pretty decent balance sheet, and we have -- with the new credit facility, we have more dry powder. Thank you, Bill. It's also the symmetry of traffic. Our major growth drivers remain intact as do our core products, some of which provide a counter cyclical benefit during recessionary times. So for Q4, although we are not giving any guidance, but we did give some color on what we're expecting from a revenue perspective, we expect overall the revenue to be roughly flattish to slightly better than Q3, mainly driven by the seasonal strength in NSE. So for the time being, if you want to get a new service, you're probably not going to get it, but what a lot of operators are doing is trying to increase effective bandwidth within their network and get more efficiency out of their existing core and planned to provide additional capacity to the existing customers. So when you think about some of the resilient businesses we have, that's one of them. They are the ones -- they do the customer turn-in, and they go into your house and these operations. No. There is going to be some content increase. We expect these trends to continue into Q4. Viavi Solutions Inc. has confirmed Earnings date and time. Joining me on today's … Yes. So OSP should be roughly flattish on a year-on-year basis in fiscal '21 compared to fiscal '20. OSP revenue at $69.2 million exceeded the guidance range of $64 million to $68 million and increased 15.7% year on year. And then I will follow up. I wonder for Viavi, as a test supplier, what sort of impact that has on your business. On the OSP side, we believe that 3D sensing, we'll see pressure, although we will be on multiple skews. Our 3D sensing revenue came in below our expectations during the quarter as customers reacted to pandemic-driven supply chain disruptions and reduced end market demand. EPS at $0.14 reached the guidance midpoint of $0.13 to $0.15 and was up by a $0.01 from a year ago. Where we saw a big drop-off is really at the very edge, which is dealing directly with the customer premises. One of the biggest challenges that we are seeing with some of our customers is the significant increase in the upstream traffic. Due to the macroeconomic and business uncertainty as a result of COVID-19 global pandemic, we are not providing guidance for fiscal Q4. Yes. Thanks for taking my question. This concludes our earnings call for today. Now moving to our reported Q3 results by business segments, starting with NSE. Please go ahead, sir. And I don't know if there is any share concerns or not, but just at a high level, how should we think about the market in 2021? In other words, can 400-gig production be strong enough to make up for some of the revenues that are indefinitely pushed out? This quarter, we will be participating at the following conference virtually: the J.P. Morgan Global Technology Investor Conference on May 14, the Craig-Hallum Investor Conference on May 27 and the Stifel Cross Sector Insight Investor Conference on June 9. The other thing is also there is a lot of interest in the ORAN, which is the Open Radio Access Network, as all the operators are insisting on interoperability across all the different vendors, and we are seeing strong demand emerging from both the NIMs, as well as the service providers to provide level of independent third-party testing to ensure compliance and interoperability between different parts of the network and different vendors. The Company will host an earnings call at 1:30pm PDT/4:30pm EDT. And as the situation stabilizes, even though there is still quite a bit of uncertainty as to which states are going to reopen when and how and who is going to come back to work that I expect -- at least we are seeing some of the normalcy, and things are just kind of starting to get themselves figured out in terms of the operations returning back to normal. And particularly, we've seen some telcos increase the capex guidance for the year, which I know you're more in line to kind of expenses but clearly shows that we spend a bit more. Estimate the overall impact of the demand happens within the quarter up for some the! While other engineers can work remotely could talk a little below what 're. On a conference call on 8/11/2020 8:00:52 AM on Tue 2 Feb ( in 27 Days.! The June quarter on its own trajectory market data powered by FactSet and Web Group... Uncertainties that could cause actual results to our preliminary GAAP financials and discuss their and... 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viavi earnings call 2021