Viavi Solutions Inc. (VIAV), a global company that provides network test, monitoring, and assurance solutions to communications service providers, and enterprises and their ecosystems worldwide yesterday reported their fiscal fourth quarter 2017 financial results.

Viavi reported adjusted fourth quarter earnings of $0.12 per share which beat analyst expectations of $0.08 per share with revenues at $198.1 million which beat analyst expectations of $196.2 million.   

Viavi Solutions Inc. CEO’s  Comments

“Fiscal year 2017 saw continuous improvement in our year-on-year EPS as we focused on the quality of our revenues and reduced operating expenses, culminating with a strong finish in Q4 net income profitability,” said Oleg Khaykin, Viavi’s President and Chief Executive Officer. “Notable highlights during the year included restructuring our SE segment and positioning our OSP segment for the 3D sensing opportunity.” Khaykin added, “Looking ahead to fiscal 2018, we will continue to focus on revenue quality improvement and profit diversification, as we manage the cyclical business challenges to our core businesses. We are focusing on stabilizing and reversing the NSE revenue trend, aided by the expected recovery in North American service providers spend and our revamped product strategy. We also expect to realize initial 3D sensing revenue in the first half of fiscal 2018 with a greater ramp in the second half.  The new revenue opportunity is timely and is expected to balance the typical business cyclicality of the anti-counterfeiting products.”  PR Newswire

VIAV Technical Analysis

(Click on image to enlarge)

VIAV opened trading yesterday at $10.78 which was up from the previous day’s trading close of $10.75. VIAV closed trading yesterday at $10.63 and spiked down after market to $10.20, equivalent to a 4% decrease from the closing price. Taking a look at the daily chart we can see the last time VIAV traded below these levels we have to go back to May 2nd when it traded at  $10.13.

Taking a closer look at the daily chart we can see that before the spike down VIAV had already been in an overall downward trend dating back to July 25th when it traded at $11.48. VIAV has a float of 226.06 million shares and traded 1.67 times the normal daily trading volume on Tuesday.