Ciena (CIEN) FY2019 results: revenue $3.6 billion, up 15.4% on the year
Ciena Corp. (CIEN) reported revenue of $3.6 billion for fiscal 2019, the year ended 31 October 2019, up 15.4% on the year before. Net income was $253 million, and diluted earnings per share $1.61. The figures are the company's own, from the 10-K it filed with the SEC on 20 December 2019.
Revenue
$3.6 billion
+15.4% on the year
FY2012FY2019
Operating margin
9.7%
7.4% a year earlier
FY2012FY2019
Net income
$253 million
FY2012FY2019
Diluted EPS
$1.61
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
3,572
3,094
2,802
+15.4%
Cost of revenue
2,030
1,780
1,556
+14.1%
Gross profit
1,542
1,315
1,246
+17.3%
Gross margin
43.2%
42.5%
44.5%
Research and development
548
492
475
+11.5%
Operating income
347
230
215
+50.8%
Operating margin
9.7%
7.4%
7.7%
Interest expense
37.5
55.2
55.9
-32.2%
Pre-tax income
313
149
156
+110.5%
Income tax
59.8
493
-1,106
-87.9%
Effective tax rate
19.1%
331.7%
-708.3%
Net income
253
-345
1,262
Net margin
7.1%
-11.1%
45.0%
Diluted EPS
$1.61
-$2.49
$7.53
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
413
229
235
+80.2%
Capital expenditure
62.6
67.6
94.6
-7.4%
Free cash flow
351
162
140
+116.9%
Free cash flow margin
9.8%
5.2%
5.0%
Cash from investing
24.1
-19.4
-61.4
Cash from financing
-279
-99.2
-311
Depreciation and amortisation
109
100.0
110
+9.4%
Share-based compensation
59.7
53.0
48.4
+12.8%
Buybacks
150
111
0.0
+35.2%
Diluted shares, weighted
158m
144m
170m
+9.7%
Shares outstanding at period end
154m
154m
143m
+0.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,173
1,929
2,136
+12.6%
Debt
687
693
936
-0.9%
Other liabilities
1,033
1,134
879
-8.9%
Total liabilities and equity
3,893
3,757
3,952
+3.6%
Fixed assets
287
292
308
-1.8%
Goodwill
298
298
267
-0.0%
Intangible assets
113
148
101
-23.9%
Investments
120
208
329
-42.3%
Cash and equivalents
904
745
641
+21.3%
Receivables
725
787
622
-7.8%
Inventory
345
263
267
+31.3%
Other assets
1,102
1,016
1,416
+8.5%
Total assets
3,893
3,757
3,952
+3.6%
10-K for the year ended 31 October 2019, filed 20 December 2019: the filing.