Q3 2024 Viavi Solutions Inc Earnings Call Transcript
Key Points
- Net revenue for the quarter was $246 million, slightly above the low end of the guidance range.
- Operating margin for the quarter was 9.3%, within the guidance range and slightly above the low end.
- OSP revenue for the third fiscal quarter exceeded the high end of the guidance range, showing a year-over-year increase of 8.1%.
- Cash flow from operating activities increased compared to the same period last year, indicating improved operational efficiency.
- The company successfully repaid its outstanding balance of the 2024 convertible notes, strengthening its balance sheet.
- Revenue was down sequentially by 3.3% and on a year-over-year basis by 0.7%.
- Operating margin decreased both sequentially and on a year-over-year basis, indicating potential challenges in operational efficiency.
- NSE revenue was below the guidance range and declined year-over-year by 4.2%, reflecting a conservative spend environment at enterprise customers.
- SE revenue declined significantly by 28.7% from the same period last year, driven by a slowdown in enterprise customer spend.
- Total cash and short-term investments decreased significantly from the previous quarter, from $571.8 million to $486.1 million.
Hello, everyone. My name is Jericho. Welcome to Viavi Solutions' third quarter FY24 earnings call. (Operator Instructions)
I'll now turn the conference over to Ilan Daskal, Viavi Solutions' CFO. Please go ahead.
Thank you, Jericho, and good afternoon, everyone, and welcome to Viavi Solutions' third-quarter fiscal year 2024 earnings call. My name is Ilan Daskal, Viavi Solutions' CFO. And with me on today's call is Oleg Khaykin, our President and CEO.
Please note this call will include forward-looking statements about the company's financial performance. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our current expectations and estimations. We encourage you to review our most recent annual report and SEC filings, particularly the risk factors described in those filings. The forward looking statements, including guidance that we provided during this call are valid only as of today. Viavi
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