Harmonic (HLIT) FY2015 results: revenue $377 million, down 13.0% on the year
Harmonic Inc. (HLIT) reported revenue of $377 million for fiscal 2015, the year ended 31 December 2015, down 13.0% on the year before. Net income was -$16 million, and diluted earnings per share $-0.18. The figures are the company's own, from the 10-K it filed with the SEC on 24 March 2016.
Revenue
$377 million
-13.0% on the year
FY2008FY2015
Operating margin
-3.4%
-5.0% a year earlier
FY2008FY2015
Net income
-$16 million
FY2008FY2015
Diluted EPS
-$0.18
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
377
434
462
-13.0%
Cost of revenue
174
221
241
-21.2%
Gross profit
203
212
220
-4.5%
Gross margin
53.8%
49.0%
47.7%
Research and development
87.5
93.1
99.9
-5.9%
Selling, general and administrative
121
131
134
-7.9%
Operating income
-12.9
-21.6
-23.0
Operating margin
-3.4%
-5.0%
-5.0%
Interest expense
0.5
n/a
n/a
Pre-tax income
-16.1
-21.8
-23.2
Income tax
-0.4
24.5
-44.7
Net income
-15.7
-46.2
37.0
Net margin
-4.2%
-10.7%
8.0%
Diluted EPS
-$0.18
-$0.50
$0.34
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
6.4
47.4
53.8
-86.6%
Capital expenditure
14.4
10.1
14.6
+42.6%
Free cash flow
-8.0
37.3
39.2
Free cash flow margin
-2.1%
8.6%
8.5%
Cash from investing
-10.4
27.8
51.1
Cash from financing
57.5
-92.0
-111
Depreciation and amortisation
19.7
37.0
44.0
-46.6%
Share-based compensation
15.6
17.3
16.1
-9.9%
Buybacks
72.9
93.1
117
-21.8%
Diluted shares, weighted
88m
93m
108m
-5.4%
Shares outstanding at period end
76m
88m
99m
-13.3%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
328
372
494
-11.7%
Debt
98.3
0.0
0.0
Other liabilities
98.5
109
112
-9.4%
Total liabilities and equity
525
481
606
+9.2%
Fixed assets
27.0
27.2
34.9
-0.8%
Goodwill
198
198
198
-0.1%
Intangible assets
4.1
10.6
31.1
-61.3%
Securities held for sale or to maturity
26.6
31.8
80.3
-16.5%
Cash and equivalents
126
73.0
90.3
+72.8%
Receivables
69.5
74.1
75.1
-6.2%
Inventory
38.8
32.7
36.9
+18.5%
Other assets
34.9
33.0
59.4
+5.7%
Total assets
525
481
606
+9.2%
10-K for the year ended 31 December 2015, filed 24 March 2016: the filing.