Netscout Systems (NTCT) FY2018 results: revenue $987 million, down 15.1% on the year
Netscout Systems Inc. (NTCT) reported revenue of $987 million for fiscal 2018, the year ended 31 March 2018, down 15.1% on the year before. Net income was $80 million, up 139.7%, and diluted earnings per share $0.90. The figures are the company's own, from the 10-K it filed with the SEC on 22 May 2018.
Revenue
$987 million
-15.1% on the year
FY2011FY2018
Operating margin
-0.4%
5.3% a year earlier
FY2011FY2018
Net income
$80 million
+139.7% on the year
FY2011FY2018
Diluted EPS
$0.90
+150.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
987
1,162
955
-15.1%
Cost of revenue
272
346
328
-21.4%
Gross profit
715
816
627
-12.4%
Gross margin
72.4%
70.2%
65.6%
Research and development
215
233
209
-7.6%
Operating income
-4.1
62.1
-25.6
Operating margin
-0.4%
5.3%
-2.7%
Interest expense
12.6
9.2
6.3
+37.6%
Pre-tax income
-18.7
52.2
-32.4
Income tax
-98.5
18.9
-4.1
Effective tax rate
n/a
36.2%
n/a
Net income
79.8
33.3
-28.4
+139.7%
Net margin
8.1%
2.9%
-3.0%
Diluted EPS
$0.90
$0.36
-$0.35
+150.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
222
227
97.2
-1.9%
Capital expenditure
15.9
29.7
24.8
-46.4%
Free cash flow
207
197
72.4
+4.8%
Free cash flow margin
20.9%
17.0%
7.6%
Cash from investing
57.1
-41.6
25.1
Cash from financing
-221
-89.6
-17.2
Depreciation and amortisation
154
161
140
-4.6%
Share-based compensation
47.3
39.2
28.4
+20.7%
Buybacks
501
80.0
303
+526.7%
Diluted shares, weighted
88m
93m
82m
-5.0%
Shares outstanding at period end
80m
92m
94m
-12.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,069
2,436
2,443
-15.1%
Debt
600
300
300
+100.0%
Other liabilities
700
865
849
-19.1%
Total liabilities and equity
3,369
3,602
3,593
-6.5%
Fixed assets
52.5
61.4
62.0
-14.5%
Goodwill
1,713
1,718
1,709
-0.3%
Intangible assets
831
931
1,054
-10.7%
Investments
77.9
160
141
-51.2%
Cash and equivalents
370
305
211
+21.3%
Receivables
213
294
247
-27.5%
Inventory
34.8
40.0
58.0
-13.1%
Other assets
76.0
91.6
110
-17.1%
Total assets
3,369
3,602
3,593
-6.5%
10-K for the year ended 31 March 2018, filed 22 May 2018: the filing.