Ciena (CIEN) FY2014 results: revenue $2.3 billion, up 9.9% on the year
Ciena Corp. (CIEN) reported revenue of $2.3 billion for fiscal 2014, the year ended 31 October 2014, up 9.9% on the year before. Net income was -$41 million, and diluted earnings per share $-0.38. The figures are the company's own, from the 10-K it filed with the SEC on 19 December 2014.
Revenue
$2.3 billion
+9.9% on the year
FY2008FY2014
Operating margin
2.0%
-0.1% a year earlier
FY2008FY2014
Net income
-$41 million
FY2008FY2014
Diluted EPS
-$0.38
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
2,288
2,083
1,834
+9.9%
Cost of revenue
1,340
1,217
1,110
+10.1%
Gross profit
948
865
724
+9.6%
Gross margin
41.4%
41.5%
39.5%
Research and development
401
383
364
+4.6%
Operating income
45.7
-1.8
-79.8
Operating margin
2.0%
-0.1%
-4.4%
Interest expense
47.1
44.0
39.7
+7.0%
Pre-tax income
-26.7
-80.2
-135
Income tax
14.0
5.2
9.3
+166.5%
Net income
-40.6
-85.4
-144
Net margin
-1.8%
-4.1%
-7.9%
Diluted EPS
-$0.38
-$0.83
-$1.45
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
89.8
44.7
107
+101.0%
Capital expenditure
48.2
43.8
48.1
+10.0%
Free cash flow
41.6
0.9
59.0
+4,714.8%
Free cash flow margin
1.8%
0.0%
3.2%
Cash from investing
-106
-131
-12.0
Cash from financing
259
-207
7.9
Depreciation and amortisation
102
105
111
-3.7%
Share-based compensation
42.9
37.7
32.4
+13.8%
Diluted shares, weighted
106m
102m
99m
+3.4%
Shares outstanding at period end
107m
104m
101m
+3.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
-69.6
-82.7
-89.0
Debt
1,465
1,212
1,442
+20.9%
Other liabilities
677
673
528
+0.6%
Total liabilities and equity
2,073
1,803
1,881
+15.0%
Fixed assets
127
120
124
+5.8%
Goodwill
0.0
n/a
n/a
Intangible assets
129
186
257
-30.8%
Investments
190
140
50.1
+35.9%
Cash and equivalents
587
346
642
+69.3%
Receivables
519
489
345
+6.2%
Inventory
255
249
260
+2.2%
Other assets
267
273
202
-2.3%
Total assets
2,073
1,803
1,881
+15.0%
10-K for the year ended 31 October 2014, filed 19 December 2014: the filing.