Viavi Solutions (NASDAQ: VIAV) reported Q1 EPS of $0.15, $0.01 better than the analyst estimate of $0.14. Revenue for the quarter came in at $268.5 million versus the consensus estimate of $268.5 million.

"We delivered solid results in fiscal Q1 2019, driven by better than expected demand in our key growth areas of Fiber, 5G wireless, and 3D Sensing," said Oleg Khaykin, VIAVI\'s President and Chief Executive Officer. "However, our strong performance in Fiber, 5G wireless and 3D Sensing was dampened by the continuing weak spending by the North American service providers. Despite that, our NSE business segment delivered solid non-GAAP operating results, helped by a richer product mix and operating expense management. We expect fiscal Q1 business trends to continue into Q2."

Khaykin added, \"On October 30, we completed the acquisition of RPC Photonics, Inc. a technology leader in engineered optical diffusers used for 3D Sensing and other related applications. With this acquisition, VIAVI now has a strong presence in both the projector and camera of the 3D Sensing module. This acquisition significantly increases our 3D Sensing available market opportunity."

GUIDANCE:

Viavi Solutions sees Q2 2019 EPS of $0.15-$0.17, versus the consensus of $0.16. Viavi Solutions sees Q2 2019 revenue of $270-290 million, versus the consensus of $281.94 million.

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