Ciena (CIEN) FY2013 results: revenue $2.1 billion, up 13.6% on the year
Ciena Corp. (CIEN) reported revenue of $2.1 billion for fiscal 2013, the year ended 31 October 2013, up 13.6% on the year before. Net income was -$85 million, and diluted earnings per share $-0.83. The figures are the company's own, from the 10-K it filed with the SEC on 20 December 2013.
Revenue
$2.1 billion
+13.6% on the year
FY2008FY2013
Operating margin
-0.1%
-4.4% a year earlier
FY2008FY2013
Net income
-$85 million
FY2008FY2013
Diluted EPS
-$0.83
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
2,083
1,834
1,742
+13.6%
Cost of revenue
1,217
1,110
1,033
+9.7%
Gross profit
865
724
709
+19.5%
Gross margin
41.5%
39.5%
40.7%
Research and development
383
364
380
+5.3%
Operating income
-1.8
-79.8
-163
Operating margin
-0.1%
-4.4%
-9.4%
Interest expense
44.0
39.7
37.9
+11.1%
Pre-tax income
-80.2
-135
-188
Income tax
5.2
9.3
7.7
-43.8%
Net income
-85.4
-144
-196
Net margin
-4.1%
-7.9%
-11.2%
Diluted EPS
-$0.83
-$1.45
-$2.04
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
44.7
107
-90.5
-58.3%
Capital expenditure
43.8
48.1
52.4
-8.9%
Free cash flow
0.9
59.0
-143
-98.5%
Free cash flow margin
0.0%
3.2%
-8.2%
Cash from investing
-131
-12.0
-68.6
Cash from financing
-207
7.9
13.2
Depreciation and amortisation
105
111
130
-4.8%
Share-based compensation
37.7
32.4
37.9
+16.4%
Diluted shares, weighted
102m
99m
96m
+3.0%
Shares outstanding at period end
104m
101m
97m
+3.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
-82.7
-89.0
13.9
Debt
1,212
1,442
1,442
-15.9%
Other liabilities
673
528
495
+27.5%
Total liabilities and equity
1,803
1,881
1,951
-4.2%
Fixed assets
120
124
123
-3.1%
Goodwill
n/a
n/a
0.0
Intangible assets
186
257
332
-27.7%
Investments
140
50.1
50.3
+179.7%
Cash and equivalents
346
642
542
-46.1%
Receivables
489
345
418
+41.4%
Inventory
249
260
230
-4.2%
Other assets
273
202
257
+34.9%
Total assets
1,803
1,881
1,951
-4.2%
10-K for the year ended 31 October 2013, filed 20 December 2013: the filing.