Research Desk Line-up: EchoStar Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 6, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Viavi Solutions Inc. (NASDAQ: VIAV) ("Viavi"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=VIAV, following the Company's disclosure of its fourth quarter and fiscal 2017 financial results on August 15, 2017. The communications equipment Company outperformed top- and bottom-line expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Communication Equipment industry. Pro-TD has currently selected EchoStar Corporation (NASDAQ: SATS) for due-diligence and potential coverage as the Company announced on August 09, 2017, its financial results for the three and six months which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on EchoStar when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on VIAV; also brushing on SATS. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=VIAV

http://protraderdaily.com/optin/?symbol=SATS

Earnings Reviewed

For its fourth fiscal quarter and fiscal year ended July 01, 2017, Viavi reported GAAP net revenue of $198.1 million compared to GAAP net revenue of $224.1 million for the fourth quarter of fiscal 2016. The Company's revenue number exceeded analysts' expectations of $196.2 million. Viavi's GAAP net revenue was $811.4 million for fiscal 2017 compared to GAAP net revenue of $906.3 million for fiscal 2016.

Viavi stated that Americas, Asia/Pacific, and Europe, Middle-East, and Africa (EMEA) customers represented 45.4%, 20.6%, and 34.0%, respectively, of total net revenue for Q4 FY17. Americas, Asia/Pacific, and EMEA customers represented 46.7%, 21.3%, and 32.0%, respectively, of total net revenue for FY17.

For Q4 FY17, Viavi's GAAP operating margin was 6.1%, up 4,970 basis points y-o-y. The Company's non-GAAP operating margin totaled 15.0%, up 150 basis points y-o-y.

For Q4 FY17, Viavi's GAAP net income was $12.1 million, or $0.05 per share, compared to GAAP net loss of $64.5 million, or $0.28 per share, for Q4 FY16, inclusive of non-cash goodwill impairment charge of $91.4 million related to the Company's Service Enablement (SE) segment. Viavi's non-GAAP net income totaled $26.9 million, or $0.12 per share, in the reported quarter versus non-GAAP net income of $23.8 million, or $0.10 per share, for Q4 FY16. The Company's earnings surpassed Wall Street's forecasts of $0.08 per share.

Viavi's GAAP net income totaled $165.3 million, or $0.70 per share, for FY17 compared to net loss of $50.4 million, or $0.22 per share, which again included non-cash goodwill impairment charge of $91.4 million related to SE. The Company's non-GAAP net income was $94.1 million, or $0.40 per share, from non-GAAP net income of $90.0 million, or $0.38 per share, for FY16.

Cash Matters

As of July 01, 2017, Viavi held $1.45 billion in total cash and investments. As of July 01, 2017, the Company also had $1.07 billion aggregate principal amount of senior convertible notes with a net carrying value of $931.4 million classified as long-term debt.

During the fiscal quarter and year ended July 01, 2017 the Company sold 0.4 million and 7.2 million shares, respectively, of the 11.7 million shares of Lumentum's common stock retained as part of the spin-off of Lumentum. The Company generated net proceeds from these sales of $19.7 million and $265.1 million, respectively. As of July 01, 2017, the Company had sold all of its ownership of Lumentum's shares.

During the fiscal quarter and year ended July 01, 2017, Viavi generated $33.8 million and $80.0 million of cash from operations, respectively.

Subsequent to fiscal 2017, on August 09, 2017, the Company acquired Trilithic, Inc., a privately-held provider of electronic test and measurement equipment for telecommunications service providers. The Company expects the acquisition to be accretive to earnings on a non-GAAP basis in fiscal 2018.

Business Outlook

For the first quarter of fiscal 2018 ending September 30, 2017, Viavi is forecasting non-GAAP net revenue to be between $173 million to $193 million and non-GAAP earnings per share to be in the range of $0.06 to $0.09.

Stock Performance

At the closing bell, on Tuesday, September 05, 2017, Viavi Solutions' stock slightly slipped 0.97%, ending the trading session at $10.18. A total volume of 1.85 million shares have exchanged hands. The Company's stock price rallied 3.35% in the past six months and 29.85% in the previous twelve months. Moreover, the stock surged 24.45% since the start of the year. The stock is trading at a PE ratio of 14.50 and currently, has a market cap of $2.33 billion.

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