And then the other piece of that would be the -- it sounds like the 3D sensing is down sequentially. So we are assuming a U-shape recovery, thinking that more of the same for the next two quarters, so first half of fiscal '21 and then sort of a recovery starting to happen in fiscal '20 for calendar first half of 2021. We are seeing healthy demand on kind of midstream over the network. So I mean, clearly, most people are used to just downloading the data, but now people are trying to-- we see significant increase in uploading. And I would assume that if your revenues are flat, that that would imply a little bit up in NE. Previously, this call had been scheduled for 2:30pm PT. Fiscal Q3 was a challenging quarter for Viavi as COVID-19 pandemic migrated from China to Europe and then to the US impacting our operations in R&D centers globally. So I don't think we are shying away from doing a deal in this environment. I mean, these things are still being built and being shipped and from what we see, yes, there may be not all of the engineers are in a lab, but many companies are running essential staff in the lab and continue to do the development. Please note this call will include forward-looking statements about the company's financial performance. And if I can just follow up with Amar, kind of what's the best level of opex to think about in which you will look to run the business before you're going to see the demand recovery come through? And that means usually opening up some of the less desirable bands with more noise and things like that, which require a lot of troubleshooting. So you're kind of on your own. Yes, sure. We have efficiency programs that we continue to run that we discussed during the analyst day. And so all our investments will continue to be guided based on what our strategic and operational and financial discipline that we are sort of exercising the last three to four years. But as you kind of talking to these customers, what's your read in terms of which customer groups are more likely to be value expanding plans for the year and kind of in the backdrop of a weaker macro? I mean, there is talk of the world-facing cameras. Thank you. And on 3D sensing, we get a kind of a longer-term forecast. A live webcast of the call and the replay will be available on the VIAVI website at https://investor.viavisolutions.com. So we are shipping almost just in time. Copyright © 2021 MarketWatch, Inc. All rights reserved. Oleg Khaykin -- President and Chief Executive Officer. And so from that perspective, if you think about our overall business, as Oleg mentioned, we will see some pressure on the edge of the network. Thank you, everyone. The Algorithm predicts "% Predicted Move After Earnings Announcement" (PMAEA) for VIAV three weeks prior to earnings date. Investor Network (IN) is a financial content community, serving millions of unique investors market information, earnings, commentary and news on what's trending. So we are seeing exactly same thing. This secured credit facility, combined with more than $530 million of cash on our balance sheet, further strengthens our liquidity position. What the concerns are also becoming, with significant reduction in number of flights, people are getting concerned about the level of inventories they hold on hand, and some of it was really driven their wish to have a bit more supply chain security and having product closer to the source. Now, when you think about it, one-third of that was mainly because of lower travel and entertainment expenses and marketing expenses as most of the events were getting canceled. Acquisitions that you've done have been wildly -- companies have been reluctant in terms of giving you the pricing that you talked about. Welcome to Viavi Solutions third quarter fiscal year 2020 earnings call. It's roughly let's say 80% is sort of variable, roughly 20% is fixed. I think it usually takes a few quarters for things to percolate and settle down. Overall, for fiscal '21 as we are looking out, we are not assuming a V-shape recovery. Of the $200 million authorized share buyback announced during September 2019 analyst day event, we have repurchased approximately $43.8 million of Viavi stock to date. So when you think about some of the resilient businesses we have, that's one of them. I think it's really issue of timing rate for most of the, I'd say, European, North American and some of the Asian operators. For OSP, we anticipate 3D-sensing product revenue, which is less than 10% of Viavi's annual revenue to be impacted by weaker end market demand for high-end smartphones. Thank you. The information contained in these presentations, reports and/or filings may be updated, amended, supplemented or otherwise altered by subsequent presentations, reports and/or filings by VIAVI Solutions. That's why we have not experienced any supply chain disruption, because we are well prepared and have all the critical components in-house to be able to meet the 400-gig and 5G demand. Stock Advisor launched in February of 2002. When I talk about 60% fixed, it's fixed over six-month period, but anything, nine months, 12 months, everything is variable, right? Viavi Solutions Inc. Common Stock (VIAV) Stock Quotes - Nasdaq offers stock quotes & market activity data for US and global markets. I think the biggest headwind in 3D sensing is just fundamentally lower expected volumes of higher-end phones. Joining me on today's … Well, first of all, I don't think I said any revenues is indefinitely pushed out, I think it's kind of pushed out to the near-term as the -- well, I mean, definitely we assume the customer start coming back to work and they will make a decision. Yes. OK. Really. We reconcile these non-GAAP results to our preliminary GAAP financials and discuss their usefulness and limitations in today's earnings release. Is that not right? Finally, we are recording today's call, and we'll make the recording available by 4.30 PM Pacific Time this evening on our website. Your next question comes from the line of Alex Henderson of Needham. Its quarterly revenue was down 5.1% compared to the same quarter last … Tim Savageaux -- Northland Capital Markets -- Analyst. Find the latest Earnings Report Date for Viavi Solutions Inc. Common Stock (VIAV) at Nasdaq.com. From that perspective, yes. Well, the operating margin level is definitely lower on NE than it is with OSP. That difference will be made up by higher demand for 400-gig. NSE's operating margin at 7.4% was below the guidance range and decreased 270 basis points from a year ago, reflecting the lower revenue volume due to the impact from COVID-19, partially offset by good expense control. Viavi's operating margins at 14.8% increased 10 basis points year on year and was within the guidance range of 14.5% to 16.5%. No, Alex. Thanks for taking my question. So one-third of that was because of that. NSE gross margins at 64.3% increased 20 basis points year on year. Thank you very much. Most of those are staying at home right now because most vendors have told those to basically stay at home. To receive updates for this company you can register by emailing info@investornetwork.com or by clicking get investment info from the company's profile. Let me give you more color on that. Oleg, I was hoping you could just take a moment. So we'll continue to run those. OK. And then I just want to better understand your forecasting. Your line is open. Thank you, Amar. Viavi Solutions last issued its quarterly earnings results on November 5th, 2020. So again, this is just a backstop for us. Please also note that unless we state otherwise, all results except revenue are non-GAAP. So they will expect higher service level from the service providers. Also, we have a pretty decent balance sheet, and we have -- with the new credit facility, we have more dry powder. So as we emerge out of this recessionary period, we want to be much, much stronger than we are. Follow us on Twitter @investornetwork. So one of the big challenges with capacities that service providers are dealing with is how to create more bandwidth for the upload. One last question if I could. My name is Bill Ong, Head of Investor Relations. And can you shed some light on how to think about kind of fixed cost here versus variable? Correct. Our whole philosophy is that we want to remain invested in areas where we think there is potential growth, and we know there is one. Add to Calendar. So just to put things in perspective, we do have another business, which is also field and that's on the avionic test, but that is less than 5% of the revenue, just from an overall Viavi perspective. The Company will host an earnings call at 1:30pm PDT/4:30pm EDT. The forward-looking statements, including guidance we provide during this call are valid only as of today. So when you say that the edge, which is a third NSE, you expect to be rather slow for two, three quarters, it's just based on your assumption that it would take some time for people to go back to work, and the work from home would phase out? We encourage you to review our most recent annual report and SEC filings, particularly the risk factors described in those filings. A live webcast of the call and the repl... A live webcast of the call and the repl... VIAVI Announces Date … I will now turn the call over to Bill. Now, clearly, we know the customer problem is when they planning to place the orders, but the time between the time they place an order and the time they receive the product is within three months. It's going to create more technical requirements. Turning to the balance sheet. Viavi Solutions EPS is expected to be around $0.13, according to sell-side analysts. So I guess can you help us just think about 3D sensing for fiscal '21 in general terms? the advanced products, lab and production for 400 gig and 5G continue to be as strong as ever. So for us, it's not an issue because we don't really play on a miler plastic notes. Your next question comes from the line of Mehdi Hosseini of Susquehanna. While our growth products with NSE were roughly flat. NSE revenue at $187 million declined 9% year on year and was below the guidance range of $204 million to $220 million. But as you look at these dynamics among service providers considering increased traffic, increased subscriber ads, I guess how long do you expect that to last and what are you seeing kind of real time to date and whether you have any positive exposure to increased network traffic? Unlike with some of the capital products that the network service providers buy from the likes of Cisco and others, there, they have orders well in advance, and it's longer-term orders because part of their capital spend, most of the instrumentation falls under opex spend, and as such, the timing between the time we receive an order in the time we ship it is usually less than a quarter. Are we talking about fiscal Q4? Thanks. OSP revenue at $69.2 million exceeded the guidance range of $64 million to $68 million and increased 15.7% year on year. Pardon me. Your next question comes from the line of Samik Chatterjee of J.P. Morgan. R&D spend generally held up well during the Q3 and continued strong into Q4 as customers continue to invest in 5G and 400-gig technology rollouts. Add to Apple Calendar; Add to Google Calendar Michael Genovese -- MKM Partners -- Analyst. It's almost opposite in the OSP side where we have roughly 70% fixed and about 30% variable. Viavi Solutions, Inc. to Host Earnings Call Published: Nov. 5, 2020 at 2:46 p.m. It's not just increased traffic. And the seasonal strength is coming from the lab side of the business, as well as Oleg mentioned, in the mid-haul and the backhaul of the network. Sure. Right. And to what extent do you think you're pulling from the back-half potential reprint opportunity? Our fiscal Q3 was a challenging quarter for Viavi as the COVID-19 pandemic impacted all businesses around the globe. It is on Tue 2 Feb (In 27 Days). With that, I turn the call over to Oleg. SE revenue at $23.1 million declined 7.2% from a year ago primarily due to weakness in our mature assurance products. Thank you very much. Our miss to revenue guidance was largely a result of COVID-19 lockdown. We expect these trends to continue into Q4. So I would say, a big chunk of our business, I would say, is the -- within the quarter book-ship. It sounds like the lab business held up fairly well. It's also the symmetry of traffic. What was your reported capex for the March quarter? Now to our business outlook. Because we're not giving any particular guidance of fiscal Q4. NEW YORK, NY / ACCESSWIRE / November 5, 2020 / Viavi Solutions, Inc. (NASDAQ:VIAV) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on November 5, 2020 at 4:30 PM Eastern Time. And so overall NSE, we think that it has low single-digit decline, so to speak. To listen to the event live or access a replay of the call - visit https://www.investornetwork.com/event/presentation/69564. The area of the networks where most operators are working and continue to send their recognition to is the maintenance of the core of the network. VIAVI Announces Date for Fiscal First Quarter 2021 Financial Results San Jose, Calif., October 9, 2020 – (NASDAQ: VIAV) Viavi Solutions Inc. (“VIAVI”) will announce its fiscal first quarter 2021 financial results for the period ended October 3, 2020, on Thursday, November 5, 2020, after the close of market. IN is an Issuer Direct brand, to learn more or for the latest financial news and market information, visit www.investornetwork.com. We have almost a real-time demand. Exactly, exactly. Market data powered by FactSet and Web Financial Group. Viavi Solutions Inc. VIAV reported decent fourth-quarter fiscal 2020 (ended Jun 27, 2020) results, with the bottom and the top line surpassing the Zacks Consensus Estimate. OK. So most of the printing plants were just as heavily impacted by shutdown, so in fact, most of the printing facilities have been shut down for the last month, month and a half, OK, two months. And then the other one-third was mainly as a result of some efficiency programs that we had in place and that will continue in the company. So when you think about the dynamics, I think we will be operating at an opex level that you saw in Q3, and I think that should be -- as the revenue come back -- revenue comes back, we will scale the opex to that extent on the variable side. So yes, we get a general forecast, but I mean, it can go up and down throughout the quarter. Then I have a follow-up. It's all within the quarter. Nearly half of NSE revenue shortfall can be attributed to customer and logistics shutdown that resulted in shipments or acceptance getting delayed since no one was available at the customer side to receive products. Joining me on today's call are Oleg Khaykin, president and CEO; and Amar Maletira, CFO. Whereas for us, it's more of a -- we don't get as much uptick when things really turnaround. Samik Chatterjee -- J.P. Morgan -- Analyst. I assume that in this environment that you would take advantage of that, the depressed conditions and the similarly depressed prices to take advantage of it. Operating cash flow for the quarter was $39.1 million. But sequentially, if your NE-NSE mix goes up, you will also see a higher absorption and higher operating leverage on the fixed costs of the -- yes, on the NSE. November 05, 2020 (ACCESSWIRE via COMTEX) -- I think the NSE business is mainly a book ship business, but within NSE, we have our SE business, and there is an assurance business which is software business where we have good backlog position. So that's where we saw the slowdown in spend. Should You Investigate Viavi Solutions Inc. At US$12.07? The Company will host an earnings call at 1:30pm PDT/4:30pm EDT. Our 11 production products, which include 5G wireless and 400-gig fiber, delivered as expected. It's really more matched to the actual end market shipments. Operating margins at 35% exceeded the 31% to 33% guidance range and expanded 440 basis points year on year primarily due to expansion in gross margin, as well as good operating expense management. I would now like to turn the call over to Amar. Many purchase decisions were either pushed out or placed on hold. One-third was mainly because we were able to quickly take a proactive action and freeze hiring. And so we believe that we will very effectively manage our opex down as the revenue comes down. And I think for us, the model allocation or model mix aside, the biggest thing that we worry about is the ultimate total market demand. Well, right now, a lot of our demand -- I mean, we do have already some carrier demand, but it's really more related to trial installation and testing. So that's where we're seeing the bulk of demand coming today, but we are also starting to see more and more interest from the service providers in placing orders for kind of the, I'd say, mid-stream and the kind of core of the network monitoring for the 5G. Hey. Lumentum, formerly JDSU’s Communications and Commercial Optical … So I think our opex, we were -- when you think about our opex versus the guidance, we came in roughly about $10 million below what was implied in our guidance for Q3. There is going to be some content increase. SE gross margins at 69.3% expanded by 540 basis points from a year ago due to a favorable mix within our growth assurance, as well as data center product lines. And we are continuing to see very strong demand for router modules. EPS at $0.14 reached the guidance midpoint of $0.13 to $0.15 and was up by a $0.01 from a year ago. We plan to continue to be opportunistic in our share repurchase. Download the investor presentation - earnings call slides. Sales will likely be near $259.44 million. Welcome to Viavi Solutions third-quarter fiscal-year 2020 earnings call. In fact, there is a strong demand for this product as is because I think the -- all our customers are seeing very healthy demand in the market even with the downturn. I think there's going to be some kind of content increase at the customer, but obviously, there is macro concerns. When California enacted the shelter in place order beginning in mid-March, we were able to leverage our Chinese operations. So we have a lot of good leverage there in terms -- on the COGS side as we continue. My name is Bill Ong, Head of Investor Relations. Earnings and Revenue. View source version on accesswire.com: https://www.accesswire.com/614794/Viavi-Solutions-Inc-to-Host-Earnings-Call, COMTEX_374005099/2457/2020-11-05T14:46:12. So that's why when we talk about field instruments, there are field instruments kind of the core maintenance of the network, and then there is the kind of customer clients' maintenance. Obviously, this is a very important product line in this environment and its demand seems to have a dynamic that's pretty independent of economic activity, which is nice. So have we seen an increased churn and the currency installed base that's a result of COVID causing them to destroy builds or anything of that sort that is facilitating an acceleration of demand? And by the way, even within Viavi, even though we have a lot of work from home, we do maintain some level of engineering labs activity. February 2, 2021 01:30 PM PST. Oleg, if I can just ask you for what you read, you kind of mentioned that the revenue shortfall here is partly logistics, partly kind of lower demand. As I said during my prepared remarks, we did not see any 400-gig pushout. The uncertainty around the edge of the network is where we have biggest reservations for this quarter until things open up. Thanks. Now when you think about our manufacturing, I think we have on the COGS side, we have a business where in our, let's say, in NSE business, we have more variable costs in our opex in COGS than fixed cost, right? On the OSP side, we believe that 3D sensing, we'll see pressure, although we will be on multiple skews. But I thought you'd said that that was going to be around $50 million in the upcoming quarter. Q3 was a challenging quarter for viavi earnings call Solutions third-quarter 2020 earnings call and healthy on accesswire.com: https:.. 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