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Vendor : ASTQB
Exam Code : ISTQB-Level-1
Exam Name : American Software Testing Qualifications Board Level 1
Questions and Answers : 827 Q & A
Updated On : June 14, 2019
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Test Number : ISTQB-Level-1
Test Name : American Software Testing Qualifications Board Level 1
Vendor Name : ASTQB
Q&A : 827 Dumps Questions

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Viavi options (VIAV) Q3 2019 earnings call Transcript | ISTQB-Level-1 Dumps and Real test Questions with VCE Practice Test

Logo of jester cap with thought bubble.

photo source: The Motley idiot.

Viavi solutions (NASDAQ:VIAV)Q3 2019 revenue CallMay. 02, 2019, 4:30 p.m. ET

  • prepared Remarks
  • Questions and answers
  • name contributors
  • organized Remarks:


    good afternoon. My identify is Cheryl, and i might be your conference operator nowadays. at the moment, i want to welcome all and sundry to the Viavi Fiscal Q3 2019 revenue conference name. [Operator instructions] bill Ong, head of investor family members, you can also begin your convention.

    invoice Ong -- Head of Investor relations

    thanks, Cheryl. Welcome to Viavi solutions third-quarter fiscal 12 months 2019 profits name. My name is invoice Ong, head of investor members of the family. becoming a member of me on present day name are Oleg Khaykin, president and CEO; and Amar Maletira, CFO.

    Please observe, this name will include ahead-searching statements in regards to the business's financial efficiency. These statements are discipline to dangers and uncertainties that could trigger genuine consequences to differ materially from existing expectations and estimations. We inspire you to evaluation our most exact SEC filings, particularly the chance elements described in those filings. The ahead-looking statements, together with suggestions we deliver all over this name, are valid most effective as of these days.

    Viavi undertakes no obligation to replace these statements. Please also notice that unless we state in any other case, all outcomes apart from revenue are non-GAAP. We reconcile these non-GAAP consequences to our preliminary GAAP financials and talk about their usefulness and barriers in ultra-modern revenue unlock. The liberate plus our supplemental income slide, which includes historic fiscal tables, are available on Viavi's website.

    ultimately, we're recording latest name, and may make the recording obtainable by using four:30 p.m. Pacific Time this evening on our web site. i might now want to turn the call over to Amar.

    Amar Maletira -- Chief monetary Officer

    thank you, invoice. Viavi's earnings at 265.2 million grew 21.three% yr on yr, and reached the high-end of our salary information latitude. NSE income at 205.4 million was above the midpoint of revenue suggestions pushed through earnings upside in our instant and fiber products. OSP revenue at 59.8 million handed the counsel latitude because of upside from both our anti-counterfeiting and 3D sensing groups.

    Viavi's operating margins at 14.7% surpassed the high end of our advice and turned into down 50 foundation facets year on year. EPS at $0.13 reached the excessive end of the information latitude and was flat versus a 12 months in the past. Now, moving to our pronounced Q3 effects by enterprise section, beginning with NSE. NSE income at 205.four million grew 31.3% 12 months on 12 months.

    inside NSE profits, NE salary at $180.5 million extended forty two.7% from a 12 months-in the past ranges. This increase became a result of the required AvComm and instant organizations and the biological increase in our fiber products throughout each lab and box contraptions. This increase changed into in part offset through declines primarily in our cable products from a year-in the past top tiers as a result of the DOCSIS three.1 upgrade cycle. SE earnings at 24.9 million declined 16.7% from a yr-ago stages pushed primarily from a decline within the datacenter product demand and from the expected runoff in our mature assurance items.

    This reduce turned into partly offset by using a rise in our increase assurance items. NSE gross margins at 64.1% declined 60 groundwork points year on year, primarily as a result of gross margin declines in our SE enterprise as a result of lessen volumes, and an favorable product mix from the continued runoff of our high margin, mature assurance options, and declines in our datacenter products. NSE operating margin at 10.1% extended 400 groundwork points from a 12 months-ago stages, reflecting the favorable working leveraging from the addition of the received AvComm and instant groups and ongoing charge administration. NSE's publication-to-bill ratio was below one.

    Now, turning to OSP. OSP profits at fifty nine.8 million declined four% yr on year from lower 3D sensing earnings, partly offset by using boom in our anti-counterfeiting business. except for the one-time impact of the earnings awareness in the prior-yr length, 3D sensing salary grew significantly yr on 12 months. OSP's gross margin at 51.5%, declined one hundred ten foundation features from a year ago as a result of lower volumes and the expected below absorption of producing costs from the deliberate idling of 3D sensing filter capability.

    OSP's operating margin at 30.6% declined 740 foundation facets because of declines in gross margins, in addition to some centered investments to help growth. Turning to the steadiness sheet. Our total money and brief-term investments ending steadiness turned into 537.5 million. working money move for the quarter changed into forty one.2 million.

    Of the 200 million authorized for share buybacks, we now have repurchased shares price approximately 146.3 million as of the conclusion of fiscal Q3. we will proceed to be opportunistic by using repurchasing Viavi inventory to offset profits solution from inventory-primarily based compensation. Now, turning to our tips. We predict fiscal fourth-quarter 2019 salary for Viavi to be 278 million plus or minus 10 million.

    operating margins at 16% plus or minus 1% and EPS to be within the range of $0.14 to $0.16. We predict NSE revenue to be about 215 million plus or minus 8 million with working margin at eleven.5% plus or minus 1%. We expect OSP income to be approximately sixty three million plus or minus 2 million with operating margins at 32% plus or minus 1%. we're expanding our 3D sensing income forecast for fiscal 2019 from about 60 million to sixty five million.

    Our tax rate is anticipated to be about 7 to $8 million. We are expecting other revenue and prices to reflect a net expense of approximately 2 million to 2.5 million. Share count is approximately 232.5 million shares and with that, i will flip the name over to Oleg.

    Oleg Khaykin -- President and Chief government Officer

    thank you, Amar. while the March quarter is a seasonally vulnerable quarter for Viavi, i'm completely satisfied with the effects of both NSE and OSP. both company segments outperformed our expectations in both revenue and non-GAAP operating earnings. In NSE, 5G market adoption has resulted in a 12 months-on-year strength in our instant items.

    We additionally continue to peer giant electricity in our fiber products across both lab and box contraptions. Cable earnings declined 12 months on 12 months from the North america height cyclical demand for DOCSIS three.1 in early calendar 2018. however, the cable demand improved quarter on quarter pushed by means of demand from European cable valued clientele. SE business segment profits carried out beneath our expectations, driven by using weaker demand from the datacenter valued clientele.

    That observed, we count on datacenter product demand to choose up throughout the leisure of calendar yr. moving onto OSP. The anti-counterfeiting items carried out in line with our expectations, pushed through regular banknote print demand. moreover, we now have a banknote redecorate pipeline, which could pressure upside to the steady-state reprint forecast.

    however, the visibility into the redesigned currencies launch dates is limited. Our 3D sensing items became seasonally down in Q3. We expect a small healing in 3D sensing in fiscal this autumn and a robust rebound in growth in the first half of the fiscal 2020. looking forward into the fiscal 2020, we predict the secular boom traits in 5G instant, fiber, and 3D sensing that began remaining year to proceed.

    Fiscal 2019 is a milestone year for Viavi. during this fiscal yr, we've done forward of time table our turnaround goals that we outlined all through the September 2016 analyst day. We are now ready to launch the next part of Viavi's transformation. We should be internet hosting an analyst day adventure on September 12, 2019 in Santa Clara, California to define our going ahead method and goals.

    Please save the date and we are able to provide extra suggestions regarding the experience within the coming months. In conclusion, i would like to thank my Viavi crew and express my appreciation to our consumers and our shareholders for their assist. i'll now turn the name over to bill.

    invoice Ong -- Head of Investor members of the family

    thanks, Oleg. Cheryl, let's start the query and answer session. We ask every person to limit discussion to at least one question and one follow-up.

    Questions & answers:


    [Operator instructions] the primary query comes from Alex Henderson of Needham. Please go forward. Your line is open.

    Alex Henderson -- Needham and business -- Analyst

    thanks very a whole lot. So i was hoping you could simply talk a bit bit about the cadence within the cable company and what you suppose issues are going to seem like as we get into the back half a bit bit. I know you most effective provide one quarter information however the assistance that you simply gave here within the print you gave appears like they may be pretty tons straight up the center line of expectations. So i used to be questioning in case you are expecting a little bit of stronger spend within the cable company in the lower back half of the year and what you're seeing in the provider issuer piece thus? Thanks.

    Oleg Khaykin -- President and Chief executive Officer

    bound. thanks, Alex. I consider pay attention, obviously, when the deployment of a new technology, new regular begins, in the first several quarters you have a huge demand, above all driven through North American operators. as soon as the preliminary deployment by North American operators slows down, there continues to be a significant chunk of cable company for the new usual that comes out of Europe, Latin the us, and so on and the like.

    So there is a few lagging factor here. however also, in North america, as soon as the deployment of the installation equipment goes down, there continues to be lots of other lifecycle improvements that happen, similar to fiber monitoring, network monitoring, leakage detection, and other types of issues. I imply it does not imply we go -- our earnings with North American operators goes to zero. It simply undoubtedly drops off into more steady-state run fee, which is beneath the peak tiers.

    So obviously, more often than not of thumb, I feel the strongest demand in cable you commonly get somewhere within the middle of the calendar yr, i'll say June and September quarter. I imply the primary quarter of the 12 months, there's lengthen for budget releases and to the extent there is any on used capex left, you then might see a pop in the fourth quarter. however commonly, I imply the cyclicality in that company is you see extra product demand within the core of the calendar yr. but when it comes to the -- offer you quarterly run price, it truly comes down to who's spending, and when, and so forth, and so forth.

    And truth is, for us, it be less -- I imply the account managers that we've on cable suppliers, I suggest they all the time have other ways to extract profits in any given quarter by using transferring to other items and distinctive price propositions all the way through the lifecycle of any given know-how.

    Alex Henderson -- Needham and enterprise -- Analyst

    So is it simply final year became lots more heavily front end weighted and this 12 months it be extra linear? Is that variety of a fair summary?

    Oleg Khaykin -- President and Chief govt Officer

    Yeah, I suggest final yr, bear in mind that is when the three.1 DOCSIS start getting deployed in earnest with the aid of predominant cable operators within the North the united states. so that drove tremendous peak demand. So it is why after I say in case you look at our March quarter ultimate 12 months to this quarter, I suggest I look at our cable profits this quarter. it truly is nothing to sneeze at.

    it be definitely-we're fairly happy with the run fee. however in the event you examine it to cable demand in March quarter of 2018, or not it's tremendously down. because the first quarter the place we noticed significant demand for handheld tools.

    Amar Maletira -- Chief monetary Officer

    So reasonable to expect it might be greater linear right through the year.

    Oleg Khaykin -- President and Chief government Officer

    Yeah, that's right.


    Your next query comes from the line of Vijay Bhagavath of Deutsche bank. Please go ahead. Your line is open.

    Vijay Bhagavath -- Deutsche financial institution -- Analyst

    Thanks. Yeah. You recognize, we get this query asked through valued clientele a whole lot, which is around the 5G instrument chance and also any aggressive differentiation or perspective that you could share versus your peer group, similar to Keysight can be very helpful. after which I have a follow-up.

    Oleg Khaykin -- President and Chief govt Officer

    certain. i'll birth and Amar can chime in. At this factor, when we study 5G, we in fact do not compete head-to-head with Keysight. If anything else, I believe their 5G performs complementary to what we do and they notably concentrated greater on the chip and board engineering and numerous devices in the RF spectrum.

    we are principally concentrated on the -- in the lab on the equipment assignment, system emulation that become we ship to the bottom station designers. And in terms of field instruments, I imply Keysight is not in reality a major participant in box gadgets. So there, it should be more businesses like Anritsu, for example, or Rohde & Schwarz. And for us, we're particularly newcomer to box gadgets within the RF area but we've huge abilities and market position within the fiber and wire line.

    That referred to, we do significantly leverage our management in this system verify and qualification check into the -- attempting to introduce new instruments for the box deployment. And while we are very early, I suggest at this time it's very much trials, we've our field contraptions fairly a good deal with every predominant carrier issuer there present process opinions. And our hope is that as they transition from a valuation to the early deployment, our toolset and our workflow that we deliver with our toolset will develop into a common that they undertake for their broader technical installation force.

    Vijay Bhagavath -- Deutsche bank -- Analyst

    a brief observe-on could be the end market and the demand developments are what they're. As you said, cable and simply standard North American carriers. the rest you may do, Oleg, Amar, when it comes to portfolio realignment or in all probability M&A that gets you concentrated on extra demand if there have been the alternatives in terms of portfolio management and inserting funds to work.

    Oleg Khaykin -- President and Chief govt Officer

    well, certain. We at all times study alternatives and we all the time analyze biological increase opportunities and inorganic. it be always a choice make versus purchase. And from that perspective, after we analyze talents M&A, it's not distinct from what we would do once we examine our internal opportunities.

    it's acquired to have decent business sense. it be got to be accretive. it be got to have an affordable possibility return profile and issues like that. So with that in mind, we all the time look at different things.

    And if we discover an outstanding healthy at the correct fee, undoubtedly, we do a deal. but we also, as we have proven time and time once again, we stroll after we think a deal gets past the level it's competitively priced.

    Amar Maletira -- Chief economic Officer

    So organically, just to offer you a bit bit extra color here, I believe we made loads of development in these two areas that we now have been highlighting, fiber as well as wireless. And when you look at our portfolio nowadays, and if you happen to just examine NE, which is our core instrument company, wireless and fiber combined is greater than 50% of the salary. And each these organizations were growing organically. And should you even look at our fiscal this fall suggestions that we supplied, it might be -- all could be biological increase.

    So this is all segments in NSE except for SE as a result of the mature assurance runoff. the entire other segments inside NSE is going to grow organically 12 months on 12 months, as smartly as the segments inside OSP are going to develop organically 12 months-on-year. So I consider simply from an NSE point of view, we now have an outstanding organic play and we're making loads of traction there.

    Oleg Khaykin -- President and Chief govt Officer

    And definitely, we had a couple of opportunities we saw and we have now straight away multiplied R&D in certain targeted areas to go grab additional 5, 6, 7, eight million of 5G alternatives that require some further funding.


    Your subsequent question comes from Jun Zhang of Rosenblatt Securities. Please go forward. Your line is open.

    Jun Zhang -- Rosenblatt Securities -- Analyst

    So I simply wish to get a glance at thought where is the electricity coming from within the March quarter. And additionally, seems like you guided a bit bit type of June quarter. And the EPS assistance variety of in keeping with the highway. So what is the -- is there increasing on the operating cost or is there any impact on the gross margin facet for the June quarter? Thanks.

    Amar Maletira -- Chief financial Officer

    Yeah. So i could beginning with the March quarter and additionally offer you some colour on the information. So March quarter, we saw a extensive-based fashion inside NSE specifically in our instant and fiber company, as i discussed in my prepared remarks. And on the OSP side, we saw strength in our anti-counterfeiting business however also, extra importantly, electricity in our 3D sensing company.

    And so if you note, we took our suggestions up for 60 million to sixty five million as a result of we're seeing energy on the android facet increase. When it comes to counsel for the June quarter, we did take the revenue assistance up versus the place the road became. We also took our operating margin tips up and saw working profit bucks or EBIT is also up versus the road estimates. however we're also increasing our estimates on tax charges.

    if you consider, our tax expenses are always between 16 to 18% and so we are guiding to roughly about 18% tax fee as percent of PBT. this is because some of the profit is landing in some tax jurisdiction the place we need to pay tax. So it's where the tips is. The counsel is in reality marginally up versus the street from a income and an EBIT standpoint, despite the fact in line on the EPS.

    Jun Zhang -- Rosenblatt Securities -- Analyst

    acquired it. Thanks. And my second query is the 5G trying out business. So I think some people panic with 5G start deployment in loads of countries after which checking out.

    The checking out device demand is doubtless going to decelerate once the networks starts deployments. So what's your view about this cycle, how Viavi placed in the complete cycle of 5G deployment?

    Oleg Khaykin -- President and Chief executive Officer

    So let me simply form of let you know the way it works. So in our system level verify, at this time, each time we sell a -- at this time, it be an engineering verify. So we deliver a rack and stack equipment with preloaded utility. And here is what's riding the demand right now.

    as soon as the production begins, the demand will shift toward load trying out, the place you're checking out the network load, and device load, and its potential to address traffic. So or not it's a unique class of test profile but the examine calls for, then again, will be -- we are expecting to be significant. however also, bear in mind, 5G common is evolving. So there's a nonstop parade of new standards and new extensions and lines that come out.

    And this will develop into a nonstop -- it becomes an annuity revenue stream for us. So for each equipment that we've bought considering the fact that the starting of 5G deployment during the past and this quarter and the next quarter, we could be selling licenses for a considerable number of software upgrades. So obviously, I mean maybe on the topline it should be reduce salary in a degree than if you're urgent through cost of items over a rack and stack system. but on the working margin contribution, it might really be larger than what we've these days.

    in order that stated, after we look at this company, we analyze it as a lifecycle. naturally, early on, there's lots of demand for engineering testers. Over time, it shifts to construction testers and the application enhancements for new features and usual updates. and then to the box instrumentation, after which the cycle repeats itself over and over.

    So it is why it's vital for us to deliver out and construct out a field instrument portfolio for you to transition in terms of the extent ramps just because the -- some of the engineering tester business begins to say no. but it's no distinctive than if we look on the cyclicality in 4G and 3G. That cycle is well understood and it's not that -- the fluctuations between troughs and peaks don't seem to be that some distance aside as some individuals may additionally suspect. however to the extent we also win massive within the box instrumentation area, we can also definitely continue to grow our wireless business.

    Amar Maletira -- Chief economic Officer

    and in addition to box instrumentation, we also lengthen ourselves into the assurance space, too.

    Oleg Khaykin -- President and Chief govt Officer

    that's right. there's additionally -- first rate factor, Amar. when we restructured our SE enterprise, we left a number of elements untouched and it's primarily precisely the technologies that at the moment are maturing and entering the area. As you go to 5G, you need a different type of utility for checking out at the Assurance level, at the carrier provider stage for 5G networks.

    And 5G is proving to be a whole lot extra difficult than many individuals realized in the container deployment. since it's rather distinct from 4G and 3G. And we're already seeing giant requests coming in from consumers as they fight with a variety of considerations with the reliability and first-class of communications.

    Amar Maletira -- Chief financial Officer

    excellent thanks. that is all my question.


    Your subsequent question comes from Meta Marshall of Morgan Stanley. Please go ahead. Your line is open.

    Meta Marshall -- Morgan Stanley -- Analyst

    incredible. Thanks. I suppose, you know, AT&T is kind of ending the fashioned buildings circulate on their fiber deployment and type of moving onto the homes linked portion of the build-out, the Direct television construct-out. So simply questioning are you anticipating to see improved fiber performance 2d half of the 12 months from that? Or just if you can sort of speak to developments on fiber accretion being connected to the buildings.

    after which might be 2d, simply on RPC, is that any portion of the stronger 3D sensing book? Or has it helped in constructing relationships, the affect of that acquisition, can be beneficial. Thanks.

    Oleg Khaykin -- President and Chief government Officer

    So might be i could delivery on the AT&T query and Amar, that you may pick up the RPC. so you're right. AT&T spent the final couple of years deploying fiber. however, when we feel about connecting fiber to the home, or not it's now not all the time fiber to the domestic.

    We basically, trust it or no longer, are beginning to see expertise for corporations like AT&T and others who now have a lot of fiber. there's basically some near-time period demand for G. quickly products because many of these networks, they conclusion simply within 100 or so ft from the domestic. And or not it's an awful lot more reasonably priced simply to run the final distance with normal, like a G.

    speedy know-how instead of fiber. We do see a lot more fiber to the constructing in Europe as a result of the density of subscriber and density of European cities makes it plenty extra low cost to run fiber really to the building. So we are seeing extra interest in contraptions in Asia and Europe in terms of connecting passive optical community to the building. And in the U.S., we are seeing greater of the common access equipment like G.

    quickly and so forth, in addition to probably the most fiber to the curb -- fiber equipment being demanded. but it surely's now not a large swing. youngsters, considering the fact that businesses -- North American provider providers had been very low in the final year, any variety of pickup definitely now offers us a meaningful tailwind versus a 12 months ago.

    Amar Maletira -- Chief financial Officer

    And the query on the RPC. So Meta, I consider the update on the forecast for 3D sensing has two accessories to it. One, basically RPC as a result of RPC is contributing to the upside. And No.

    2, additionally, we're seeing on the filter side, the demand has been form of strong, at least within the ultimate few months with the flagship customer. however additionally, on the Android side, we're beginning to see some pickup well known. So it is a mixture, specially on the Android side, the place we now have a pickup of demand as they ramp up both on the filter, as well as on the diffuser facet. So it's a mixture of both.

    but RPC did add to the upside.

    Meta Marshall -- Morgan Stanley -- Analyst

    and maybe simply on a observe-up to that. is a component of the intent with RPC become to grow relationships inside the Android ecosystem. possibly that hasn't been income up to now, however just where are you seeing -- are you seeing sort of that capacity to leveraging the relationships that RPC had?

    Oleg Khaykin -- President and Chief executive Officer

    bound. We even have very good relationship on -- the equal customers who buy RPC products had been buying our filter items. So in that recognize, evidently, we're now a bigger share of intellect for them as a result of now, we've two sockets that we handle. I suppose the -- I suggest our relationship with all the customers is awfully good.

    I suggest my bigger issue that i'm wishing is to how quickly Android ecosystem adopting 3D sensing and time of flight or structured easy technologies. because that's naturally, eventually, what drivers our demand.


    Your next question comes from the Samik Chatterjee. Please go ahead. Your line is open.

    Joe Cardoso -- J.P. Morgan -- Analyst

    this is Joe Cardoso on for Samik. just one question from you guys. i used to be simply curious to look what's driving the datacenter over the last couple of quarters. Is there any market share dynamics or expertise adjustments that we should know about it truly is occurring there? and then what's giving you guys assistance that that returns to growth or it turns into extra positive as we development throughout the yr? thank you.

    Amar Maletira -- Chief financial Officer

    thanks very an awful lot. So I consider first off, to position things in context, our datacenter company is roughly a bit -- type of a bit south of 5% of the overall NSE business. Now, what we noticed in our March quarter, which is the starting of the fiscal quarter for lots of our valued clientele, once again, the buy liberate sort of delayed. And so we saw softness trendy for the datacenter products.

    we now have a good product. we now have a fine group on the ground executing rather smartly. And we believe that because the demand starts picking out up, we should be getting our fair proportion of market. So there isn't a market share loss.

    it's simply that the demand changed into vulnerable. We're also considering the measurement of the deals have become greater than, say, a year ago or a year and a half ago, which means it just delays the closing time. So these are the factors. We aren't too involved about it.

    I suppose we now have a very good product. we have a fine group and we trust that as the demand picks up, we may still get our fair proportion of market.

    Joe Cardoso -- J.P. Morgan -- Analyst

    thank you.


    Your remaining question comes from Dave Kang of B. Riley FBR. Please go forward. Your line is open.

    Lee Krowl -- B. Riley FBR and business -- Analyst

    brilliant. Thanks. this is Lee Krowl filling in for Dave Kang. First query.

    simply sort of curious on the 3D sensing upside. Is -- can you probably just discuss the place that 5 million is -- or the mix of the 5 million between the current quarter and the out quarter when it comes to the place that upside falls. just variety of making an attempt to overlay seasonality with incremental customer wins.

    Amar Maletira -- Chief financial Officer

    So I believe if you take a look at our 65 million, simply to put issues in context here, once again, and as i discussed even in my closing name, two-thirds of it really is in the first half and one-third of the 65 million is roughly within the 2nd half. and also you may still see from fiscal Q3 to this autumn, that quantity, 3D sensing dividend is in reality just a little turning out to be. So we are able to see some increase in that number going from Q3 to this fall.

    Lee Krowl -- B. Riley FBR and business -- Analyst

    after which I bet you guys type of all the time downplay the visibility in the banknote company. but calling out the pipeline, i would actually argue that that capacity you have a little bit improved visibility. Do you predict the refreshes to occur in calendar '19? Or is it a longer timeline when it comes to pipeline for that enterprise in terms of the brand new refreshes you guys spoke of?

    Amar Maletira -- Chief monetary Officer

    So I believe we -- as you rightly noted, we have visibility to the pipeline for redesigns. The timing of these redesigns closing is it really is anything it is unclear. So what we are assuming, no longer for fiscal this autumn, we have already given you assistance for fiscal this fall, but for the relaxation of maybe first half of fiscal '20, we're assuming that the anti-counterfeiting business might be just the reprint volumes will are available, which is roughly plus or minus $50 million of run expense. And if the remodel is coming, it should be on appropriate of it.

    however for planning assumptions, we're just assuming reprint volumes within the 2nd calendar half of 2019. It is likely that we can do enhanced than that, however I consider we always go together with this assumption unless we get greater visibility.

    Oleg Khaykin -- President and Chief executive Officer

    So this way, every time some principal bank designs to launch a brand new be aware, it be an upside. And the reality is we get no a couple of quarter upfront visibility. As that you could imagine, imperative banks hold that information very tight to their chest.

    Lee Krowl -- B. Riley FBR and company -- Analyst

    appropriate. That makes sense. it truly is useful colour. Thanks a whole lot guys.


    There aren't additional questions at the present. i would like to turn the name over to invoice Ong for closing remarks.

    bill Ong -- Head of Investor family members

    thanks, Cheryl. This concludes our earnings demand these days. thanks every person.


    [Operator signoff]

    duration: 34 minutes

    name individuals:

    bill Ong -- Head of Investor family members

    Amar Maletira -- Chief fiscal Officer

    Oleg Khaykin -- President and Chief govt Officer

    Alex Henderson -- Needham and enterprise -- Analyst

    Vijay Bhagavath -- Deutsche financial institution -- Analyst

    Jun Zhang -- Rosenblatt Securities -- Analyst

    Meta Marshall -- Morgan Stanley -- Analyst

    Joe Cardoso -- J.P. Morgan -- Analyst

    Lee Krowl -- B. Riley FBR and company -- Analyst

    extra VIAV evaluation

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    ASTQB ISTQB-Level-1 Exam (American Software Testing Qualifications Board Level 1) Detailed Information


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