Ciena (CIEN) FY2017 results: revenue $2.8 billion, up 7.7% on the year
Ciena Corp. (CIEN) reported revenue of $2.8 billion for fiscal 2017, the year ended 31 October 2017, up 7.7% on the year before. Net income was $1.3 billion, up 1638.6%, and diluted earnings per share $7.53. The figures are the company's own, from the 10-K it filed with the SEC on 21 December 2018.
Revenue
$2.8 billion
+7.7% on the year
FY2010FY2017
Operating margin
7.7%
6.0% a year earlier
FY2010FY2017
Net income
$1.3 billion
+1,638.6% on the year
FY2010FY2017
Diluted EPS
$7.53
+1,376.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
2,802
2,601
2,446
+7.7%
Cost of revenue
1,556
1,439
1,370
+8.1%
Gross profit
1,246
1,162
1,076
+7.2%
Gross margin
44.5%
44.7%
44.0%
Research and development
475
452
414
+5.2%
Operating income
215
156
100
+37.5%
Operating margin
7.7%
6.0%
4.1%
Interest expense
55.9
56.7
51.2
-1.4%
Pre-tax income
156
86.7
23.8
+80.0%
Income tax
-1,106
14.1
12.1
Effective tax rate
-708.3%
16.3%
50.9%
Net income
1,262
72.6
11.7
+1,638.6%
Net margin
45.0%
2.8%
0.5%
Diluted EPS
$7.53
$0.51
$0.10
+1,376.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
235
290
262
-18.9%
Capital expenditure
94.6
107
62.1
-11.7%
Free cash flow
140
182
200
-23.1%
Free cash flow margin
5.0%
7.0%
8.2%
Cash from investing
-61.4
-296
-43.1
Cash from financing
-311
-4.2
-8.1
Depreciation and amortisation
110
125
125
-11.8%
Share-based compensation
48.4
52.0
55.3
-7.0%
Buybacks
0.0
0.0
n/a
Diluted shares, weighted
170m
151m
120m
+12.8%
Shares outstanding at period end
143m
140m
136m
+2.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,136
766
621
+178.8%
Debt
936
1,254
1,272
-25.3%
Other liabilities
879
854
803
+3.0%
Total liabilities and equity
3,952
2,874
2,695
+37.5%
Fixed assets
308
288
192
+7.0%
Goodwill
267
267
256
+0.2%
Intangible assets
101
147
203
-31.2%
Investments
329
365
230
-10.0%
Cash and equivalents
641
778
791
-17.6%
Receivables
622
576
551
+8.0%
Inventory
267
211
191
+26.5%
Other assets
1,416
241
281
+487.7%
Total assets
3,952
2,874
2,695
+37.5%
10-K for the year ended 31 October 2017, filed 21 December 2018: the filing.