Viavi (VIAV) Tops Q4 EPS by 5c, CEO to Depart

Viavi (NASDAQ: VIAV) reported Q4 EPS of $0.13, $0.05 better than the analyst estimate of $0.08. Revenue for the quarter came in at $427.7 million, may not compare to consensus estimate of $217.58 million.

Viavi Solutions Inc. ("Viavi") (NASDAQ: VIAV) today announced that its Board of Directors has appointed Chairman Richard E. Belluzzo as interim president and chief executive officer, effective immediately. This appointment follows the departure of Tom Waechter, who has stepped down as the company's president and chief executive officer and Board member. After achieving a major milestone on August 1, 2015 of separating JDSU into two public companies and leading the company through significant changes during his more than six-year tenure as chief executive officer at JDSU, Mr. Waechter will be pursuing other business and personal interests. The Viavi Board is commencing a search for a permanent president and chief executive officer who will lead Viavi as it enters its next chapter and will be added to the board upon appointment.

In addition, in connection with the Board's ongoing assessment of the company post-spinoff, Viavi will enlarge its Board from five directors to eight directors, including the new chief executive officer. The Board is commencing a search for two new directors.

For earnings history and earnings-related data on Viavi (VIAV) click here.

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