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Viavi Reports Fiscal Q3 Sales Hike

Viavi has reported results for its third fiscal quarter ended March 31, 2018. Third quarter of fiscal 2018 net revenue was USD 219.4 million. GAAP net loss was USD (8.7) million, or USD (0.04) per share. NonGAAP net income was USD 29.2 million, or USD 0.13 per share. Second quarter of fiscal 2018 net revenue was USD 201.8 million. GAAP net loss was USD (3.7) million or USD (0.02) per share. NonGAAP net income was USD 20.2 million, or USD 0.09 per share. Third quarter of fiscal 2017 net revenue was USD 196.0 million. GAAP net income was USD 26.0 million, or USD 0.11 per share. NonGAAP net income was USD 21.9 million, or USD 0.09 per share.

Financial overview. Americas, Asia-Pacific and EMEA customers represented 44.2 percent, 29.2 percent and 26.6 percent, respectively, of total net revenue for the quarter ended March 31, 2018; As of March 31, 2018, the Company held USD 738.0 million in total cash and investments; As of March 31, 2018, the Company had USD 888.5 million of total aggregate principal amount of senior convertible notes, with net carrying value of USD 786.0 million. The Company had USD 428.5 million aggregate principal amount of 0.625 percent Senior Convertible Notes (0.625 percent Notes), after repurchasing USD 22.5 million of principal amount during the fiscal quarter ended March 31, 2018. The 0.625 percent Notes with net carrying value of USD 420.4 million as of March 31, 2018 was classified as current portion of long-term debt. The Company also had USD 460.0 million aggregate principal amount of 1.00 percent Senior Convertible Notes with a net carrying value of USD 365.6 million classified as long-term debt, net of current portion; and during the fiscal quarter ended March 31, 2018, the company generated USD 13.6 million of cash from operations.

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