Ciena (CIEN) FY2018 results: revenue $3.1 billion, up 10.4% on the year
Ciena Corp. (CIEN) reported revenue of $3.1 billion for fiscal 2018, the year ended 31 October 2018, up 10.4% on the year before. Net income was -$345 million, and diluted earnings per share $-2.49. The figures are the company's own, from the 10-K it filed with the SEC on 21 December 2018.
Revenue
$3.1 billion
+10.4% on the year
FY2011FY2018
Operating margin
7.4%
7.7% a year earlier
FY2011FY2018
Net income
-$345 million
FY2011FY2018
Diluted EPS
-$2.49
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
3,094
2,802
2,601
+10.4%
Cost of revenue
1,780
1,556
1,439
+14.4%
Gross profit
1,315
1,246
1,162
+5.5%
Gross margin
42.5%
44.5%
44.7%
Research and development
492
475
452
+3.4%
Operating income
230
215
156
+7.1%
Operating margin
7.4%
7.7%
6.0%
Interest expense
55.2
55.9
56.7
-1.1%
Pre-tax income
149
156
86.7
-4.7%
Income tax
493
-1,106
14.1
Effective tax rate
331.7%
-708.3%
16.3%
Net income
-345
1,262
72.6
Net margin
-11.1%
45.0%
2.8%
Diluted EPS
-$2.49
$7.53
$0.51
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
229
235
290
-2.4%
Capital expenditure
67.6
94.6
107
-28.5%
Free cash flow
162
140
182
+15.2%
Free cash flow margin
5.2%
5.0%
7.0%
Cash from investing
-19.4
-61.4
-296
Cash from financing
-99.2
-311
-4.2
Depreciation and amortisation
100.0
110
125
-9.3%
Share-based compensation
53.0
48.4
52.0
+9.5%
Buybacks
111
0.0
0.0
Diluted shares, weighted
144m
170m
151m
-15.4%
Shares outstanding at period end
154m
143m
140m
+7.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,929
2,136
766
-9.7%
Debt
693
936
1,254
-25.9%
Other liabilities
1,134
879
854
+28.9%
Total liabilities and equity
3,757
3,952
2,874
-4.9%
Fixed assets
292
308
288
-5.3%
Goodwill
298
267
267
+11.4%
Intangible assets
148
101
147
+46.8%
Investments
208
329
365
-36.8%
Cash and equivalents
745
641
778
+16.4%
Receivables
787
622
576
+26.4%
Inventory
263
267
211
-1.6%
Other assets
1,016
1,416
241
-28.3%
Total assets
3,757
3,952
2,874
-4.9%
10-K for the year ended 31 October 2018, filed 21 December 2018: the filing.