Viavi Solutions (NASDAQ: VIAV) reported Q1 EPS of $0.18, $0.03 better than the analyst estimate of $0.15. Revenue for the quarter came in at $284.7 million versus the consensus estimate of $271.35 million.

"Our OSP business segment delivered an all-time record quarterly revenue driven by strong demand in 3D Sensing and Anti-Counterfeiting products. Together with a stabilizing demand environment in NSE and operating expense control, we achieved a non-GAAP EPS at $0.21 which exceeded both the guidance range and a year ago levels," said Oleg Khaykin, VIAVI's President and Chief Executive Officer. "We expect NSE revenue to continue recovering and strengthen sequentially driven by Field Instruments. OSP strength is expected to continue with modest pullback in 3D Sensing and Anti-Counterfeiting products, inline with fiscal Q2 seasonality."

Khaykin added, "The near-term macroeconomic uncertainty notwithstanding, we expect calendar 2021 to be a growth year driven by the secular demand for 5G Wireless, Fiber and 3D Sensing."

GUIDANCE:

Viavi Solutions sees Q2 2021 EPS of $0.18-$0.20, versus the consensus of $0.17. Viavi Solutions sees Q2 2021 revenue of $280-300 million, versus the consensus of $287.46 million.

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