Core Viewpoint - Viavi Solutions Inc. reported strong third-quarter fiscal 2025 results, with revenues and net income exceeding expectations, driven by growth in the Network Enablement and Service Enablement segments, although macroeconomic challenges pose concerns for future spending [1][2]. Financial Performance - Net income on a GAAP basis was $19.5 million or 9 cents per share, a significant improvement from a net loss of $24.6 million or 11 cents per share in the prior year [2]. - Non-GAAP net income rose to $33.9 million or 15 cents per share, up from $13.2 million or 6 cents per share year-over-year, surpassing the Zacks Consensus Estimate by 3 cents [2]. Revenue Breakdown - Quarterly revenues reached $284.8 million, reflecting a 15.8% year-over-year increase, exceeding the Zacks Consensus Estimate of $282 million [3]. - The Network Enablement segment generated $188 million in net sales, a 23.9% increase from $151.7 million in the previous year, driven by strong demand from service providers and network equipment manufacturers [3]. - Service Enablement segment revenues were $20.2 million, up 11.6% year-over-year, supported by healthy demand trends [4]. - Optical Security and Performance Products revenues slightly increased to $76.6 million from $76.2 million, primarily due to strength in anti-counterfeiting products [4]. - Revenue contributions from different regions included $108.1 million from America, $100.7 million from Asia-Pacific, and $76 million from EMEA, showing respective increases from the previous year [5]. Margins and Operating Performance - Non-GAAP gross margin improved to 60%, up 210 basis points year-over-year, with the NE segment's gross margin at 63.4%, an increase of 190 basis points [6]. - Total non-GAAP operating margin increased by 740 basis points year-over-year to 16.7%, with the NSE business operating margin rising to 10.4% [7]. Cash Flow and Liquidity - The company generated $7.8 million in cash from operating activities during the quarter, a decrease from $19.5 million in the prior year [8]. - As of March 29, 2025, Viavi had $374.2 million in cash and cash equivalents and $396.1 million in long-term debt [8]. Outlook - For the fourth quarter of fiscal 2025, management anticipates revenues between $278 million and $290 million, with non-GAAP earnings per share expected to be between 10 cents and 13 cents [10]. - Projected revenues for the NSE business are between $203 million and $213 million, while the OSP segment is expected to generate revenues between $75 million and $77 million [10].

Company Performance - Viav Solutions reported quarterly earnings of $0.15 per share, exceeding the Zacks Consensus Estimate of $0.12 per share, and showing an increase from $0.06 per share a year ago, representing an earnings surprise of 25% [1] - The company posted revenues of $284.8 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 0.96%, and up from $246 million in the same quarter last year [2] - Over the last four quarters, Viav Solutions has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Market Comparison - Viav Solutions shares have increased approximately 4.8% since the beginning of the year, contrasting with the S&P 500's decline of 5.3% [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.13 on revenues of $295.3 million, and for the current fiscal year, it is $0.44 on revenues of $1.09 billion [7] - The estimate revisions trend for Viav Solutions is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Communication - Components industry, to which Viav Solutions belongs, is currently ranked in the bottom 36% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Another company in the same industry, Ooma, is expected to report quarterly earnings of $0.18 per share, reflecting a year-over-year change of +28.6% [9]

Financial Data and Key Metrics Changes - Net revenue for Q3 fiscal year 2025 was $284.8 million, exceeding the midpoint of guidance range of $276 million to $288 million, representing a sequential increase of 5.2% and a year-over-year increase of 15.8% [6] - Operating margin for the quarter was 16.7%, above the high end of guidance range of 13% to 15%, and increased by 1.8% sequentially and 7.4% year-over-year [6][7] - EPS was $0.15, above the high end of guidance range of $0.10 to $0.13, with a sequential increase of $0.02 and a year-over-year increase of $0.09 [7] Business Segment Data and Key Metrics Changes - NSE revenue for Q3 was $208.2 million, slightly above the midpoint of guidance range of $200 million to $212 million, with a year-over-year increase of 22.6% [7][8] - NE revenue for the quarter was $188 million, a year-over-year increase of 23.9%, driven by strong demand for fiber-led and production products [8] - SE revenue was $20.2 million, an increase of 11.6% year-over-year, in line with expectations [9] - NSE gross margin was 63.1%, up 1.7% year-over-year, while NE gross margin was 63.4%, an increase of 190 basis points [9] - OSP revenue for Q3 was $76.6 million, just above the high end of guidance range, with a year-over-year increase of 0.5% [10] Market Data and Key Metrics Changes - The aerospace and defense business segment is expected to be a strong multiyear growth driver, particularly due to the acquisition of Inertia Labs [16] - Demand for fiber monitoring by hyperscale data center operators is expected to continue through calendar year 2025 [16] - The wireless business segment is seeing stronger demand for 5G field instruments, indicating a potential recovery in the overall wireless segment [17] Company Strategy and Development Direction - The company is prioritizing capital allocation towards M&A, specifically the acquisition of Spirent's high-speed Ethernet and network security business lines [12] - The company plans to finance the acquisition with additional debt while maintaining financial discipline, targeting less than four times gross leverage [12] - The company is assessing the potential impact of global tariffs on overall demand and timing of orders, with a cautious outlook for the fourth quarter [13][18] Management's Comments on Operating Environment and Future Outlook - Management noted that the March quarter was unseasonably strong, continuing the recovery and growth momentum from fiscal Q2 [15] - There are concerns about potential delays in customer orders due to recently imposed tariffs, but no cancellations have been reported [22][24] - Management expects some orders may be delayed or reduced in volume as customers adjust to tariff impacts [26][70] Other Important Information - Total cash and short-term investments at the end of Q3 were $400.2 million, down from $512.8 million in the previous quarter, primarily due to the Inertia Labs acquisition [11] - The company did not purchase any shares during the quarter, focusing on M&A instead [12] Q&A Session Summary Question: Concerns about tariff impacts on revenue - Management indicated that while there are concerns about delays in approved POs, no orders have been canceled, and customers are accepting tariff increases [22][24] Question: Exposure to tariffs from manufacturing locations - Approximately 15% of revenue is subject to tariffs, with China being the most affected region, but management expects to mitigate this impact within three to six months [27][28] Question: Strength in NSE business and service provider spending - Management believes the demand from service providers is healthy and not indicative of a pull-forward, with expectations of gradual recovery in spending [60][62] Question: Update on the aerospace and defense business - The aerospace and defense segment is experiencing strong growth, particularly in positioning, navigation, and timing due to demand for drones and anti-jamming technologies [84] Question: Size of the fiber lab and production business - Management estimates that fiber lab and production may account for around 20% of NSE revenue, with expectations of strong growth driven by data center demand [88][90]

Financial Data and Key Metrics Changes - Net revenue for Q3 2025 was $284.8 million, exceeding the guidance range of $276 million to $288 million, representing a sequential increase of 5.2% and a year-over-year increase of 15.8% [6][7] - Operating margin for the quarter was 16.7%, above the guidance range of 13% to 15%, and increased by 1.8% sequentially and 7.4% year-over-year [6][7] - EPS was $0.15, above the guidance range of $0.10 to $0.13, and increased by $0.02 sequentially and $0.09 year-over-year [7] Business Segment Data and Key Metrics Changes - NSE revenue was $208.2 million, slightly above the guidance range of $200 million to $212 million, with a year-over-year increase of 22.6% [7][8] - NE revenue was $188 million, up 23.9% year-over-year, driven by strong demand for fiber lab and production products [7][8] - SE revenue was $20.2 million, an increase of 11.6% year-over-year, aligning with expectations [8] - NSE gross margin was 63.1%, up 1.7% year-over-year, while NE gross margin was 63.4%, an increase of 190 basis points [8] - OSP revenue was $76.6 million, slightly above the guidance range, with a year-over-year increase of 0.5% [9] Market Data and Key Metrics Changes - The demand for fiber monitoring systems is being driven by service providers and hyperscale data center operators, indicating a strong recovery in the market [16] - The aerospace and defense segment is expected to be a multiyear growth driver, particularly due to the acquisition of Inertia Labs [16][45] - Wireless business demand is recovering, particularly for 5G field instruments, although infrastructure test products continue to show weakness [16] Company Strategy and Development Direction - The company is focusing on M&A, with plans to acquire Spirent's high-speed Ethernet and network security business lines, financing this with additional debt while maintaining financial discipline [12] - The company expects to realign its supply chain to mitigate tariff impacts within six months [29] - The strategy includes passing on tariff costs to customers, which is being accepted without significant pushback [34][37] Management's Comments on Operating Environment and Future Outlook - Management expressed a cautious outlook for Q4 due to potential delays in customer orders related to tariffs, although no orders have been canceled [22][25] - The company anticipates that the overall demand will remain flat relative to Q3, with specific segments like NSE taking a more prudent outlook [13][18] - Management noted that the demand for wireless field instruments is a leading indicator for the resumption of 5G network build-out [16] Other Important Information - Total cash and short-term investments at the end of Q3 were $400.2 million, down from $512.8 million in the previous quarter, primarily due to the Inertia Labs acquisition [11] - CapEx for the quarter was $6.8 million, compared to $3.2 million in the same period last year [12] Q&A Session Summary Question: Concerns about tariff impacts on revenue - Management noted that while there are concerns about delays in approved POs, no orders have been canceled, and customers are accepting tariff increases [22][23][25] Question: Revenue sourced from regions with high tariffs - Approximately 15% of revenue is subject to tariffs, with 3% directly impacted by current tariffs, but the company is working to mitigate this through supply chain adjustments [28][29] Question: Technology domains for future growth - The data center ecosystem is expected to drive strong growth, particularly in fiber lab and production, along with aerospace and defense segments [44][46] Question: OSP business outlook - The OSP business is expected to remain stable, with strength in anti-counterfeiting products offsetting seasonal weaknesses [53][54] Question: Service provider spending trends - Management believes there is a healthy demand from service providers, with a gradual return to normal spending patterns [60][62]

Note: Amounts presented in all slides are on a continuing operations basis unless otherwise noted. Fiscal Q3 2025 Earnings Call Supplementary Slides May 1, 2025 Cautionary Language Concerning Forward-Looking Statements This presentation contains forward-looking statements under Section 27A of the Securities Act of 1934. Forward-looking statements are all statements we make other than those dealing specifically with historical matters. These forward-looking statements include, among other things, financial g ...

[Q3 FY2025 Financial Highlights](index=1&type=section&id=VIAVI%20Announces%20Third%20Quarter%20Fiscal%202025%20Results) [Third Quarter Fiscal 2025 Performance Summary](index=1&type=section&id=Financial%20Overview) VIAVI reported strong Q3 FY2025 results, with significant year-over-year growth across key metrics, including net revenue increasing by **15.8%** to **$284.8 million** and non-GAAP EPS growing **150.0%** to **$0.15** - CEO Oleg Khaykin attributed the strong results to strength in both Network and Service Enablement (NSE) and Optical Security and Performance (OSP) segments, expressing optimism about continued recovery and growth in end markets[3](index=3&type=chunk) Q3 FY2025 Key Financial Results (GAAP vs. Non-GAAP) | Metric | Q3 FY2025 (GAAP) (in millions) | Q3 FY2024 (GAAP) (in millions) | Y/Y Change (GAAP) | Q3 FY2025 (Non-GAAP) (in millions) | Q3 FY2024 (Non-GAAP) (in millions) | Y/Y Change (Non-GAAP) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Net Revenue | $284.8 | $246.0 | +15.8% | $284.8 | $246.0 | +15.8% | | Operating Margin | 3.0% | (4.8)% | +780 bps | 16.7% | 9.3% | +740 bps | | Income from Operations | $8.5 | ($11.9) | +171.4% | $47.7 | $23.0 | +107.4% | | Diluted EPS | $0.09 | ($0.11) | +181.8% | $0.15 | $0.06 | +150.0% | [Segment Performance](index=1&type=section&id=Net%20Revenue%20by%20Segment) The Network Enablement segment was the primary growth driver, with revenue increasing **23.9%** year-over-year to **$188.0 million**, while OSP and Service Enablement segments also saw growth Net Revenue by Segment (in millions) | Segment | Q3 FY2025 (in millions) | Q3 FY2024 (in millions) | Y/Y Change | | :--- | :--- | :--- | :--- | | Network Enablement | $188.0 | $151.7 | +23.9% | | Service Enablement | $20.2 | $18.1 | +11.6% | | Optical Security and Performance Products | $76.6 | $76.2 | +0.5% | | **Total** | **$284.8** | **$246.0** | **+15.8%** | [Other Financial and Operational Details](index=2&type=section&id=Other%20Financial%20Details) As of March 29, 2025, VIAVI held **$400.2 million** in cash and investments, with **$640.9 million** in net debt, and generated **$7.8 million** in operating cash flow - Revenue by geography for Q3 FY2025: - Americas: **38.0%** - Asia-Pacific: **35.4%** - EMEA: **26.6%**[11](index=11&type=chunk) - As of March 29, 2025, the company held **$400.2 million** in total cash, short-term investments, and short-term restricted cash[11](index=11&type=chunk) - Total net carrying value of debt, including 1.625% and 3.75% Senior Notes, was **$640.9 million**[11](index=11&type=chunk) - The company generated **$7.8 million** in cash flows from operations during the third fiscal quarter[11](index=11&type=chunk) [Business Outlook](index=2&type=section&id=Business%20Outlook%20for%20the%20Fourth%20Quarter%20of%20Fiscal%202025) [Fourth Quarter Fiscal 2025 Guidance](index=2&type=section&id=Fourth%20Quarter%20of%20Fiscal%202025%20Guidance) For Q4 FY2025, VIAVI anticipates net revenue between **$278 million** and **$290 million**, with non-GAAP earnings per share projected to be between **$0.10** and **$0.13** Q4 FY2025 Guidance | Metric | Expected Range | | :--- | :--- | | Net Revenue | $278 million - $290 million | | Non-GAAP EPS | $0.10 - $0.13 | - The company has not provided a reconciliation to GAAP EPS guidance due to the difficulty in forecasting certain reconciling items, such as restructuring and acquisition-related charges[7](index=7&type=chunk) [Financial Statements (Preliminary)](index=3&type=section&id=-SELECTED%20PRELIMINARY%20FINANCIAL%20DATA%20-) [Condensed Consolidated Statements of Operations](index=4&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) For Q3 FY2025, VIAVI reported a GAAP net income of **$19.5 million**, or **$0.09** per diluted share, a significant improvement from the prior-year quarter's net loss of **$24.6 million**, driven by higher revenue and a **$16.3 million** tax benefit Statement of Operations Highlights (in millions, except per share data) | Metric | Three Months Ended Mar 29, 2025 (in millions) | Three Months Ended Mar 30, 2024 (in millions) | | :--- | :--- | :--- | | Net revenue | $284.8 | $246.0 | | Gross profit | $160.7 | $137.9 | | Income (loss) from operations | $8.5 | ($11.9) | | Net income (loss) | $19.5 | ($24.6) | | Diluted net income (loss) per share | $0.09 | ($0.11) | [Condensed Consolidated Balance Sheets](index=5&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) As of March 29, 2025, VIAVI's total assets increased to **$1.93 billion** from **$1.74 billion**, primarily due to goodwill and intangible assets, while total liabilities rose to **$1.20 billion** from **$1.05 billion** Balance Sheet Highlights (in millions) | Metric | March 29, 2025 (in millions) | June 29, 2024 (in millions) | | :--- | :--- | :--- | | Total current assets | $835.4 | $876.5 | | Total assets | $1,933.2 | $1,736.3 | | Total current liabilities | $544.7 | $247.1 | | Total liabilities | $1,204.4 | $1,054.7 | | Total stockholders' equity | $728.8 | $681.6 | [Reportable Segment Information](index=6&type=section&id=REPORTABLE%20SEGMENT%20INFORMATION) In Q3 FY2025, the Network and Service Enablement segment reported a GAAP operating income of **$21.7 million**, a significant turnaround, while the Optical Security and Performance Products segment maintained profitability at **$26.0 million** Segment GAAP Operating Income (in millions) | Segment | Q3 FY2025 (in millions) | Q3 FY2024 (in millions) | | :--- | :--- | :--- | | Network and Service Enablement | $21.7 | ($3.1) | | Optical Security and Performance Products | $26.0 | $26.1 | Segment GAAP Gross Margin | Segment | Q3 FY2025 | Q3 FY2024 | | :--- | :--- | :--- | | Network and Service Enablement | 63.1% | 61.4% | | Optical Security and Performance Products | 51.6% | 50.1% | [Non-GAAP Financial Measures](index=7&type=section&id=Use%20of%20Non-GAAP%20(Adjusted)%20Financial%20Measures) [Use of Non-GAAP (Adjusted) Financial Measures](index=7&type=section&id=Explanation%20of%20Non-GAAP%20Measures) VIAVI uses non-GAAP financial measures to provide a clearer view of core operational performance by excluding non-recurring or non-core items - Management uses non-GAAP measures to evaluate historical and prospective financial performance and to understand the company's core operating activities, which are considered ordinary, ongoing, and customary operations[24](index=24&type=chunk) - Key adjustments to derive non-GAAP figures include excluding stock-based compensation, amortization of intangibles, restructuring costs, acquisition-related costs, and certain legal settlements[25](index=25&type=chunk) [Reconciliation of GAAP to Non-GAAP Measures](index=8&type=section&id=RECONCILIATION%20OF%20GAAP%20MEASURES%20FROM%20CONTINUING%20OPERATIONS%20TO%20NON-GAAP%20MEASURES) For Q3 FY2025, non-GAAP operating income was **$47.7 million** versus GAAP operating income of **$8.5 million**, primarily adjusted for acquisition charges, stock-based compensation, and amortization of intangibles Reconciliation of Q3 FY2025 GAAP to Non-GAAP Operating Income (in millions) | Description | Amount (in millions) | | :--- | :--- | | **GAAP operating income** | **$8.5** | | Stock-based compensation | $14.1 | | Acquisition and integration related charges | $13.3 | | Amortization of intangibles | $7.3 | | Change in fair value of contingent liability | $2.5 | | Amortization of inventory step-up | $1.7 | | Other charges | $0.6 | | Restructuring and related (benefits) | ($0.3) | | **Non-GAAP operating income** | **$47.7** | Reconciliation of Q3 FY2025 GAAP to Non-GAAP Net Income (in millions) | Description | Amount (in millions) | | :--- | :--- | | **GAAP net income** | **$19.5** | | Total reconciling items (net) | $14.4 | | **Non-GAAP net income** | **$33.9** | [Reconciliation of GAAP Net Income to Adjusted EBITDA](index=10&type=section&id=RECONCILIATION%20OF%20GAAP%20MEASURES%20FROM%20CONTINUING%20OPERATIONS%20TO%20ADJUSTED%20EBITDA) Adjusted EBITDA for Q3 FY2025 significantly increased to **$57.0 million** from **$32.6 million** in the prior year, derived by adjusting GAAP Net Income for interest, taxes, depreciation, amortization, and other non-core items Reconciliation to Adjusted EBITDA (in millions) | Description | Q3 FY2025 (in millions) | Q3 FY2024 (in millions) | | :--- | :--- | :--- | | **GAAP Net Income (Loss)** | **$19.5** | **($24.6)** | | Interest, Taxes, Depreciation & Amortization | $8.3 | $22.3 | | **EBITDA** | **$25.1** | **$2.7** | | Stock-based compensation | $14.1 | $12.8 | | Acquisition and integration related charges | $13.3 | $0.6 | | Other adjustments | $4.5 | $16.5 | | **Adjusted EBITDA** | **$57.0** | **$32.6** |

Core Viewpoint - VIAVI Solutions reported strong financial results for the third quarter of fiscal 2025, driven by growth in both Network Service Enablement (NSE) and Optical Security and Performance (OSP) segments, with optimism for continued recovery in end markets [3][5]. Financial Overview - Net revenue reached $284.8 million, an increase of $38.8 million or 15.8% year-over-year [5][6]. - GAAP operating margin was 3.0%, up 780 basis points year-over-year, while non-GAAP operating margin was 16.7%, up 740 basis points year-over-year [5][6]. - GAAP net income was $19.5 million, a significant increase of $44.1 million or 179.3% year-over-year [5][6]. - Non-GAAP net income was $33.9 million, up $20.7 million or 156.8% year-over-year [5][6]. - GAAP diluted earnings per share (EPS) was $0.09, up $0.20 or 181.8% year-over-year, while non-GAAP diluted EPS was $0.15, up $0.09 or 150.0% year-over-year [5][6]. Segment Performance - Network Enablement segment generated $188.0 million in revenue, up 23.9% year-over-year [4][5]. - Service Enablement segment revenue was $20.2 million, an increase of 11.6% year-over-year [4][5]. - Optical Security and Performance Products segment revenue was $76.6 million, showing a slight increase of 0.5% year-over-year [4][5]. Cash and Debt Position - As of March 29, 2025, the company held $400.2 million in total cash, short-term investments, and short-term restricted cash [6]. - The company had $250 million in 1.625% Senior Convertible Notes and $400 million in 3.75% Senior Notes, with a total net carrying value of $640.9 million [6]. Business Outlook - For the fourth quarter of fiscal 2025, the company expects net revenue to be between $278 million and $290 million, with non-GAAP EPS projected between $0.10 and $0.13 [8].

CHANDLER, Ariz., April 17, 2025 /PRNewswire/ -- Viavi Solutions Inc. (VIAVI) (NASDAQ: VIAV) will announce its fiscal third quarter 2025 financial results for the period ended March 29, 2025, on Thursday, May 1, 2025, after the close of market.The Company will host an earnings call at 1:30 p.m. PT / 4:30 p.m. ET. A live webcast of the call and the replay will be available on the VIAVI website at https://investor.viavisolutions.com. The quarterly earnings press release, supplementary slides and historical fin ...

Core Insights - VIAVI Solutions Inc. has expanded its VALOR Lab with a new RF-shielded anechoic chamber and two additional customer labs to enhance its Automated Lab-as-a-Service for Open RAN testing [1][4] - The expansion is funded by the U.S. National Telecommunications and Information Administration (NTIA) Public Wireless Supply Chain Innovation Fund [1] Group 1: Facility Expansion - The new RF chamber is the industry's first test-as-a-service offering for Massive MIMO and beamforming over-the-air (OTA) validation, supporting system-level performance testing for up to 16 parallel spatial layers [2] - The VALOR Lab now offers over 500 test cases compliant with O-RAN WG4, WG5, WG11, TIFG, and 3GPP specifications [3] Group 2: Industry Impact - The expansion addresses the growing demand for Open RAN testing, providing technology vendors with a comprehensive, on-demand test suite throughout the product lifecycle [4] - VALOR serves as a hub for the AI-RAN Alliance, fostering innovation in AI-powered telecommunications [6] Group 3: Collaboration and Certification - VALOR's full suite of O-RAN tests will be available to customers referred by ACCoRD, in collaboration with AT&T and Verizon [6] - It is the first test service authorized by the Telecom Infra Project (TIP) for its system performance certification program [7]

Core Viewpoint - Viavi Solutions Inc. has introduced significant advancements in its ONE LabPro ONE-1600 testing solution, enhancing its capabilities for high-bandwidth network applications, particularly in AI environments [1][7]. Group 1: Product Advancements - The upgraded ONE LabPro platform utilizes Broadcom's latest technology, achieving a data transmission rate of 212G per lane, making it suitable for high-bandwidth network switching devices [1]. - The platform supports configurations up to 102Tb/s of test bandwidth, with options for 64 x 1.6Tb/s or 128 x 800Gb/s test ports, managed by a single controller [3]. - It features a modern web-based user interface and a Python-based automation framework, streamlining the testing process for integrated circuits and network devices [4]. Group 2: Market Demand and Applications - The demand for bandwidth and network scalability is driven by emerging applications such as AI, machine learning, and quantum computing [2]. - Viavi's ONE LabPro platform is designed to facilitate faster adoption of 1.6Tb/s optical connectivity for manufacturers of integrated circuits and transceivers [2]. Group 3: Strategic Collaborations and Future Prospects - Viavi has partnered with Broadcom to enhance its Testbed as a Service (TBaaS) offering, utilizing digital twins for telecom network applications [6]. - The advancements in testing technology are expected to generate incremental demand for Viavi's solutions, potentially leading to higher revenues and improved financial performance [7]. Group 4: Financial Performance - Viavi's stock has increased by 24.2% over the past year, compared to the industry's growth of 30.8% [8].