The following is a summary of the Viavi Solutions Inc. (VIAV) Q3 2024 Earnings Call Transcript:
Financial Performance:
Viavi Solutions reported Q3 revenue of $246 million, a decrease of 3.3% sequentially and 0.7% year-on-year.
Operating margin stood at 9.3%, down 390 basis points from the previous quarter and 210 basis points year-on-year.
Earnings per share were $0.06, a decline from the previous quarters.
The company's cash and short term investments were $486.1 million at the end of the quarter.
The Network Enablement Services revenue fell by 4.2% year-on-year but the Optical Security and Performance Products segment reported an increase of 8.1% year-on-year.
Business Progress:
Recent delays in orders have affected the company's overall business.
Despite a decline in sales due to reduced demand in the 5G infrastructure segment, the company continues to develop this area.
The company anticipates a growth in the cable, fiber computing, and storage businesses in the second half of the year.
Increased demand in the aerospace and defence sector is expected to boost the avionics, communication, and PNT business.
Looking forward to 2025, the company foresees a significant replacement need for the older instrument installed base.
More details: Viavi Solutions IR
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