Harmonic (HLIT) FY2017 results: revenue $358 million, down 11.7% on the year
Harmonic Inc. (HLIT) reported revenue of $358 million for fiscal 2017, the year ended 31 December 2017, down 11.7% on the year before. Net income was -$83 million, and diluted earnings per share $-1.02. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$358 million
-11.7% on the year
FY2010FY2017
Operating margin
-19.8%
-16.5% a year earlier
FY2010FY2017
Net income
-$83 million
FY2010FY2017
Diluted EPS
-$1.02
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
358
406
377
-11.7%
Cost of revenue
188
205
174
-8.2%
Gross profit
170
201
203
-15.4%
Gross margin
47.4%
49.5%
53.8%
Research and development
96.0
98.4
87.5
-2.5%
Selling, general and administrative
136
144
121
-5.6%
Operating income
-70.9
-67.0
-12.9
Operating margin
-19.8%
-16.5%
-3.4%
Interest expense
10.6
10.1
0.5
+5.2%
Pre-tax income
-84.7
-80.4
-16.1
Income tax
-1.8
-8.1
-0.4
Net income
-83.0
-72.3
-15.7
Net margin
-23.2%
-17.8%
-4.2%
Diluted EPS
-$1.02
-$0.93
-$0.18
$ 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
3.1
0.4
6.4
+599.5%
Capital expenditure
11.4
15.1
14.4
-24.5%
Free cash flow
-8.3
-14.7
-8.0
Free cash flow margin
-2.3%
-3.6%
-2.1%
Cash from investing
-4.5
-70.5
-10.4
Cash from financing
0.9
-0.2
57.5
Depreciation and amortisation
17.7
29.2
19.7
-39.3%
Share-based compensation
16.6
13.1
15.6
+27.2%
Buybacks
0.0
0.0
72.9
Diluted shares, weighted
n/a
n/a
88m
Shares outstanding at period end
83m
78m
76m
+5.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
230
271
328
-15.1%
Debt
132
124
98.3
+5.8%
Other liabilities
147
159
98.5
-7.8%
Total liabilities and equity
508
554
525
-8.3%
Fixed assets
29.3
32.2
27.0
-9.0%
Goodwill
243
237
198
+2.3%
Intangible assets
21.3
29.2
4.1
-27.2%
Securities held for sale or to maturity
0.0
6.9
26.6
Cash and equivalents
57.0
55.6
126
+2.5%
Receivables
69.8
86.8
69.5
-19.5%
Inventory
26.0
41.2
38.8
-36.9%
Other assets
61.8
64.9
34.9
-4.7%
Total assets
508
554
525
-8.3%
10-K for the year ended 31 December 2017, filed 1 March 2019: the filing.