Netscout Systems (NTCT) FY2014 results: revenue $397 million, up 13.1% on the year
Netscout Systems Inc. (NTCT) reported revenue of $397 million for fiscal 2014, the year ended 31 March 2014, up 13.1% on the year before. Net income was $49 million, up 20.9%, and diluted earnings per share $1.17. The figures are the company's own, from the 10-K it filed with the SEC on 20 May 2014.
Revenue
$397 million
+13.1% on the year
FY2010FY2014
Operating margin
19.7%
18.4% a year earlier
FY2010FY2014
Net income
$49 million
+20.9% on the year
FY2010FY2014
Diluted EPS
$1.17
+21.9% on the year
FY2010FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
397
351
309
+13.1%
Cost of revenue
84.5
74.0
65.7
+14.2%
Gross profit
312
277
243
+12.9%
Gross margin
78.7%
78.9%
78.7%
Research and development
70.5
61.5
49.5
+14.5%
Operating income
78.0
64.5
53.7
+20.9%
Operating margin
19.7%
18.4%
17.4%
Interest expense
0.8
1.3
1.8
-40.5%
Pre-tax income
77.9
63.7
50.9
+22.2%
Income tax
28.8
23.1
18.5
+24.3%
Effective tax rate
36.9%
36.3%
36.3%
Net income
49.1
40.6
32.4
+20.9%
Net margin
12.4%
11.6%
10.5%
Diluted EPS
$1.17
$0.96
$0.76
+21.9%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
111
95.4
68.3
+16.3%
Capital expenditure
13.1
11.7
11.1
+12.0%
Free cash flow
97.9
83.7
57.2
+16.9%
Free cash flow margin
24.7%
23.9%
18.5%
Cash from investing
n/a
n/a
9.2
Cash from financing
n/a
n/a
-27.4
Depreciation and amortisation
18.3
17.5
16.6
+4.6%
Share-based compensation
12.9
9.6
8.7
+34.8%
Buybacks
34.3
27.4
20.6
+25.0%
Diluted shares, weighted
42m
42m
43m
-0.9%
Shares outstanding at period end
41m
41m
42m
-0.7%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
409
372
342
+10.0%
Debt
0.0
0.0
62.0
Other liabilities
199
180
163
+10.2%
Total liabilities and equity
608
552
568
+10.1%
Fixed assets
23.1
19.7
16.5
+17.4%
Goodwill
203
202
170
+0.5%
Intangible assets
58.5
63.8
54.7
-8.3%
Investments
117
54.2
96.3
+115.5%
Cash and equivalents
102
99.9
117
+2.1%
Receivables
60.5
73.9
69.8
-18.1%
Inventory
12.6
7.6
8.0
+66.3%
Other assets
30.8
30.7
34.9
+0.5%
Total assets
608
552
568
+10.1%
10-K for the year ended 31 March 2014, filed 20 May 2014: the filing.