Welcome to our dedicated page for Viavi Solutions news (Ticker: VIAV), a resource for investors and traders seeking the latest updates and insights on Viavi Solutions stock.
Viavi Solutions Inc. reports developments in test, monitoring, assurance and optical technologies used across communications networks, data center ecosystems, aerospace, defense, industrial and automotive markets. Company updates commonly cover quarterly results, demand trends in data center and aerospace and defense end markets, and product launches for network validation, application performance testing, optical communications and resilient position, navigation and timing.
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VIAVI reported its fourth fiscal quarter results with net revenue of $310.9 million, a 16.6% increase from last year. Despite a GAAP EPS loss of $(0.01), non-GAAP EPS rose 22.2% to $0.22. For fiscal 2021, net revenue reached $1.2 billion, up 5.5% year-over-year. The GAAP operating margin was 11.9%, a 150 bps improvement. The company anticipates a strong 2022, driven by 5G deployment and Fiber upgrades, projecting first-quarter revenues between $303 million and $317 million.
VIAVI Solutions thanks EXFO minority shareholders for their support of a superior acquisition proposal at US$8.00 per share, urging rejection of Germain Lamonde's inferior US$6.00 going private offer. Shareholders are encouraged to exercise dissent rights for fair value and contest the fairness of the transaction at a hearing on August 20, 2021. Prior to the announcement on June 7, 2021, EXFO shares traded at US$3.70, indicating potential loss if Lamonde's offer proceeds. VIAVI emphasizes the need for the EXFO Special Committee to act in the best interests of all shareholders.
Viavi Solutions Inc. expressed disappointment over the rejection of its increased acquisition offer of US$8.00 per share for EXFO Inc. by Germain Lamonde and the EXFO Special Committee. This offer represents a premium of 116% over EXFO’s previous closing price before the going private announcement. Viavi criticizes Lamonde's US$6.00 per share proposal as inadequate and claims that it deprives minority shareholders of greater value. Viavi urges the EXFO Special Committee to fulfill its fiduciary duty and consider a deal that maximizes shareholder value.
VIAVI Solutions (NASDAQ: VIAV) has submitted an increased binding proposal to acquire EXFO (NASDAQ: EXFO) for $8.00 per share, representing a premium of 33⅓% over EXFO's current Going Private Transaction offer. The proposal values EXFO at approximately $459 million and includes a 116% premium over its closing price prior to the announcement of the Going Private Transaction. The proposal follows EXFO's strong fiscal Q3 results, driven by 5G and fiber network demand, with bookings up 47.2% year-on-year. VIAVI's offer intends to ensure significant value for all EXFO shareholders.
Viavi Solutions (NASDAQ: VIAV) will announce its fiscal Q4 and year-end 2021 financial results on August 12, 2021, after market close. The results cover the period ended July 3, 2021. Investors can join a conference call at 1:30 PM PDT / 4:30 PM EDT, with the opportunity to access a live webcast on the VIAVI website. A replay will be available from August 12 to August 19, 2021.
VIAVI provides network testing and assurance solutions across various sectors, emphasizing its leadership in light management solutions.
Viavi Solutions Inc. (VIAV) announced substantial growth in 5G coverage, with an additional four countries and 301 cities since January 2021, bringing the total to 1,662 cities across 65 countries. This marks a >20% increase this year. Leading countries include China (376 cities), the US (284), and the Philippines (95). New commercial 5G services were launched in Cyprus, Peru, Russia, and Uzbekistan. While 5G network rollout is expanding, differences in quality and speed exist based on frequency bands, underscoring the need for robust network assurance.
Viavi Solutions Inc. (VIAV) has launched the AVX-10K Flight Line Test Set, designed for efficient performance verification testing of critical airborne systems. This device streamlines the process for avionics technicians working in fixed-base operators (FBOs), manufacturing, and maintenance. It validates installation and performance during regulatory checks and integrates navigation, communication, and surveillance features. The AVX-10K offers a user-friendly interface and can be controlled remotely through the VIAVI Mobile Tech App, making it versatile for on-site testing.
Viavi Solutions Inc. announced its disappointment over the rejection of its acquisition proposal for EXFO Inc. at $7.50 per share in cash. The company believes that its offer represents compelling value for EXFO shareholders and remains open to further discussions with EXFO's leadership. Viavi emphasizes the strategic merits of this transaction and is prepared to engage to reach an agreement, highlighting the importance of the deal for all stakeholders involved.
On June 16, 2021, Viavi Solutions (NASDAQ: VIAV) proposed to acquire EXFO (TSX: EXF, NASDAQ: EXFO) at US$7.50 per share, valuing the company at approximately US$430 million. This offer represents a 103% premium over EXFO's June 4 closing price and a 25% premium to the recent Going Private Transaction offer. VIAVI's proposal received unanimous approval from its board and will not require a shareholder vote. The strategic acquisition aims to enhance investment in growth, leverage combined resources, and maintain EXFO's brand and operations in Quebec.
VIAVI Solutions Inc. (NASDAQ: VIAV) introduced TMLite, a compact version of its TM500 Network Tester, on June 16, 2021. This new tool enhances productivity for wireless base station manufacturers by enabling early identification of software errors during the development cycle. TMLite supports 5G Standalone features and is designed for smaller vendors, ensuring access to necessary testing tools. With its customizable testing capabilities, TMLite aims to meet the growing demands for network densification in 5G.