Netscout Systems (NTCT) FY2013 results: revenue $351 million, up 13.6% on the year
Netscout Systems Inc. (NTCT) reported revenue of $351 million for fiscal 2013, the year ended 31 March 2013, up 13.6% on the year before. Net income was $41 million, up 25.2%, and diluted earnings per share $0.96. The figures are the company's own, from the 10-K it filed with the SEC on 24 May 2013.
Revenue
$351 million
+13.6% on the year
FY2010FY2013
Operating margin
18.4%
17.4% a year earlier
FY2010FY2013
Net income
$41 million
+25.2% on the year
FY2010FY2013
Diluted EPS
$0.96
+26.3% on the year
FY2010FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
351
309
291
+13.6%
Cost of revenue
74.0
65.7
61.4
+12.7%
Gross profit
277
243
229
+13.8%
Gross margin
78.9%
78.7%
78.9%
Research and development
61.5
49.5
40.6
+24.4%
Operating income
64.5
53.7
58.1
+20.2%
Operating margin
18.4%
17.4%
20.0%
Interest expense
1.3
1.8
2.5
-26.9%
Pre-tax income
63.7
50.9
56.3
+25.2%
Income tax
23.1
18.5
19.0
+25.1%
Effective tax rate
36.3%
36.3%
33.8%
Net income
40.6
32.4
37.3
+25.2%
Net margin
11.6%
10.5%
12.8%
Diluted EPS
$0.96
$0.76
$0.87
+26.3%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
95.4
68.3
67.2
+39.7%
Capital expenditure
11.7
11.1
7.5
+5.3%
Free cash flow
83.7
57.2
59.7
+46.4%
Free cash flow margin
23.9%
18.5%
20.5%
Cash from investing
n/a
9.2
-60.0
Cash from financing
n/a
-27.4
-3.4
Depreciation and amortisation
17.5
16.6
13.9
+4.9%
Share-based compensation
9.6
8.7
6.4
+10.9%
Buybacks
27.4
20.6
0.0
+33.3%
Diluted shares, weighted
42m
43m
43m
-1.0%
Shares outstanding at period end
41m
42m
43m
-0.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
372
342
320
+8.6%
Debt
0.0
62.0
68.1
Other liabilities
180
163
140
+10.3%
Total liabilities and equity
552
568
528
-2.7%
Fixed assets
19.7
16.5
13.5
+19.6%
Goodwill
202
170
128
+18.8%
Intangible assets
63.8
54.7
47.7
+16.7%
Investments
54.2
96.3
161
-43.7%
Cash and equivalents
99.9
117
67.2
-14.8%
Receivables
73.9
69.8
62.8
+5.9%
Inventory
7.6
8.0
8.9
-5.7%
Other assets
30.7
34.9
38.0
-12.1%
Total assets
552
568
528
-2.7%
10-K for the year ended 31 March 2013, filed 24 May 2013: the filing.