Viavi prelim Q3 rev $246-248M vs guidance $256-276M; NSE weakness

VIAVI SOLUTIONS INC.

2023-Q3 EPS reported $0.11 revenue$842,500,000

Preliminary Q3 revenue $246-248M, below prior guidance of $256-276M.
Non-GAAP operating margin expected 10.5-11.5% vs guidance 13.0-14.2%.
NSE segment weakness due to higher than expected pullback in R&D spend at NEMs and semiconductor companies.
OSP segment within expectations; cost reduction measures on schedule to complete by end of fiscal year.

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