We recently published 10 Big Names With Explosive Gains. Viavi Solutions Inc. was one of the top performers on Thursday.
Viavi Solutions soared to a new record high in more than two decades, as investor sentiment was fueled by a new corporate restructuring initiative that is expected to result in annual savings of $30 million.
At intra-day trading, the stock soared to its highest price of $24.95 before trimming gains to finish the day just up by 17.45 percent at $24.70 apiece. The last time the company hit the said level was in April 2002.
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In a statement, Viavi Solutions Inc. said that it would slash its global workforce by 5 percent, rationalize facilities, and write off assets, as it looks to improve operational efficiencies.
The company expects to incur $32 million in expenditures in connection with severance payments.
Viavi Solutions Inc. said it targets to complete the restructuring in June 2026.
In other news, Viavi Solutions Inc. swung to a net loss of $48.1 million in the second quarter ending December 2025, versus a $9.1 million net income in the same period a year earlier. This came despite a 36 percent jump in net revenues at $369.3 million versus $270.8 million year-on-year.
For the six-month period, net loss was at $69.5 million, reversing a net income of $7.3 million in the same comparable semester. Revenues jumped by 31 percent to $668.4 million from $509 million.
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This article is originally published at Insider Monkey.
