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VIAVI announced its Q1 fiscal year 2022 results, reporting a net revenue of $326.8 million. The company's GAAP EPS was $(0.24), while the non-GAAP EPS was $0.24. Despite supply chain challenges, VIAVI achieved record revenue and non-GAAP profitability.
Net revenue increased by 14.8% year-over-year to $326.8 million.
GAAP operating margin increased by 340 bps year-over-year to 14.4%.
Non-GAAP operating margin increased by 140 bps year-over-year to 22.7%.
Non-GAAP EPS increased by 14.3% year-over-year to $0.24.
For the second quarter of fiscal 2022, the Company expects net revenue to be between $296 million to $310 million and non-GAAP earnings per share to be between $0.18 to $0.20.