VIAV - Viavi Solutions wraps fiscal year with record revenue profit

Viavi Solutions ( NASDAQ: VIAV ) topped some modest expectations for revenue growth in its fiscal fourth-quarter earnings , putting the cap on a record year for revenue and operating profit.

Revenues grew 7.8% to $335.3M, aided by a big gain in optical products.

Gross margin ticked up to 62.5% on an adjusted basis; operating margin rose 50 basis points to 21.3%. And adjusted net income hit $55.8M off operating income that rose to $71.5M.

CEO Oleg Khaykin said he was pleased with "record revenue and record fourth quarter profitability driven by Fiber-to-the-Home deployment, 400GbE network and data center upgrades, and the investments in O-RAN network expansions."

Revenue by segment: Network enablement, $222.2M (up 4.5%); Service enablement, $24M (up 0.8%); Optical security and performance products, $89.1M (up 19.8%).

Liquidity as of July 2 came to $564.9M.

For the first quarter, the company is forecasting net revenues of $317M-$331M (vs. consensus for $326.6M), and earnings per share of 22-24 cents per share, in line with Street expectations for 23 cents per share.

Conference call to come at 4:30 p.m. ET .

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