Viavi Solutions To Buy Back Up To $300 Mln Of Shares

(RTTNews) - Viavi Solutions Inc. (VIAV), a provider of network test, monitoring, and assurance solutions, on Tuesday announced share buyback of up to $300 million, effective October 1.

This new program replaces the $200 million stock repurchase program that the Board previously authorized in September 2019, which expires on September 30, the company said.

Additionally, the company reconfirmed its first-quarter 2023 revenue and earnings outlook.

Viavi still expects revenue in the range of $317 million-$331 million and earnings per share between $0.22 and $0.24 in the quarter.

For the first quarter of 2022, the company had reported adjusted EPS of $0.24 on revenue of $326.8 million.