Viavi Solutions Inc. (NASDAQ:VIAV) stock observed trading -27.22% off 52-week high price. On the other end, the stock has been noted 47.28% away from low price over the last 52-weeks. The stock disclosed a move of 1.76% away from 50 day moving average and -14.75% away from 200 day moving average. Moving closer, we can see that shares have been trading 0.45% off 20-day moving average. It has market cap of $2.85B.
Viavi Solutions Inc. (NASDAQ:VIAV) declared results for its third fiscal quarter ended March 28, 2020. Amounts presented below are on a continuing operations basis unless otherwise noted.
Third quarter of fiscal 2020 net revenue was $256.2 million. GAAP net loss was $(32.8) million, or $(0.14) per share. Non-GAAP net income was $32.0 million, or $0.14 per share.
Second quarter of fiscal 2020 net revenue was $313.7 million. GAAP net income was $28.0 million or $0.12 per share. Non-GAAP net income was $55.6 million, or $0.23 per share.
Third quarter of fiscal 2019 net revenue was $265.2 million. GAAP net loss was $(4.8) million, or $(0.02) per share. Non-GAAP net income was $30.0 million, or $0.13 per share.
Fiscal Q3 2020 revenue came in below our guidance range. The emerging COVID-19 pandemic was the principal driver behind the revenue shortfall. Despite that, through disciplined OPEX management, we managed to deliver the midpoint of our non-GAAP EPS guidance range, at 14 cents per share, said Oleg Khaykin, VIAVI’s President and Chief Executive Officer. The NSE business segment was most impacted by the COVID-19 headwinds, as our customers increasingly went into WFH and lockdown mode of operations and many purchase decisions were either pushed out or put on hold. The OSP business segment, on another hand, saw some late quarter customer order upsides and expedites, coming in above the revenue and non-GAAP operating margin guidance range.
Khaykin added, VIAVI has a strong balance sheet with more than $530M in cash and a $300M line of credit. Strong liquidity position combined with many counter-cyclical businesses in our portfolio sets us up well to manage the near-term macroeconomic uncertainty. We remain positive on our long-term growth drivers in 5G Wireless, Fiber and 3D Sensing.
The USA based company Viavi Solutions Inc. moved with change of -1.90% to $11.9 with the total traded volume of 2763065 shares in recent session versus to an average volume of 2.56M. The stock was observed in the 5 days activity at 0.50%. The one month performance of stock was 17.54%. VIAV’s shares are at -17.93% for the quarter and driving a -11.78% return over the course of the past year and is now at -19.13% since this point in 2018. Right now the stock beta is 0.95. The average volatility for the week and month was at 3.21% and 3.59% respectively. There are 235.22M shares outstanding and 228.33M shares are floated in market.