Harmonic (HLIT) FY2016 results: revenue $406 million, up 7.7% on the year
Harmonic Inc. (HLIT) reported revenue of $406 million for fiscal 2016, the year ended 31 December 2016, up 7.7% on the year before. Net income was -$72 million, and diluted earnings per share $-0.93. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$406 million
+7.7% on the year
FY2009FY2016
Operating margin
-16.5%
-3.4% a year earlier
FY2009FY2016
Net income
-$72 million
FY2009FY2016
Diluted EPS
-$0.93
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
406
377
434
+7.7%
Cost of revenue
205
174
221
+17.7%
Gross profit
201
203
212
-1.0%
Gross margin
49.5%
53.8%
49.0%
Research and development
98.4
87.5
93.1
+12.4%
Selling, general and administrative
144
121
131
+19.4%
Operating income
-67.0
-12.9
-21.6
Operating margin
-16.5%
-3.4%
-5.0%
Interest expense
10.1
0.5
n/a
+2,113.6%
Pre-tax income
-80.4
-16.1
-21.8
Income tax
-8.1
-0.4
24.5
Net income
-72.3
-15.7
-46.2
Net margin
-17.8%
-4.2%
-10.7%
Diluted EPS
-$0.93
-$0.18
-$0.50
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
0.4
6.4
47.4
-93.1%
Capital expenditure
15.1
14.4
10.1
+5.2%
Free cash flow
-14.7
-8.0
37.3
Free cash flow margin
-3.6%
-2.1%
8.6%
Cash from investing
-70.5
-10.4
27.8
Cash from financing
-0.2
57.5
-92.0
Depreciation and amortisation
29.2
19.7
37.0
+48.0%
Share-based compensation
13.1
15.6
17.3
-16.2%
Buybacks
0.0
72.9
93.1
Diluted shares, weighted
n/a
88m
93m
Shares outstanding at period end
78m
76m
88m
+3.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
271
328
372
-17.5%
Debt
124
98.3
0.0
+26.6%
Other liabilities
159
98.5
109
+61.4%
Total liabilities and equity
554
525
481
+5.5%
Fixed assets
32.2
27.0
27.2
+19.1%
Goodwill
237
198
198
+20.0%
Intangible assets
29.2
4.1
10.6
+613.5%
Securities held for sale or to maturity
6.9
26.6
31.8
-74.0%
Cash and equivalents
55.6
126
73.0
-55.9%
Receivables
86.8
69.5
74.1
+24.8%
Inventory
41.2
38.8
32.7
+6.1%
Other assets
64.9
34.9
33.0
+85.7%
Total assets
554
525
481
+5.5%
10-K for the year ended 31 December 2016, filed 1 March 2019: the filing.