Netscout Systems (NTCT) FY2021 results: revenue $831 million, down 6.8% on the year
Netscout Systems Inc. (NTCT) reported revenue of $831 million for fiscal 2021, the year ended 31 March 2021, down 6.8% on the year before. Net income was $19 million, and diluted earnings per share $0.26. The figures are the company's own, from the 10-K it filed with the SEC on 20 May 2021.
Revenue
$831 million
-6.8% on the year
FY2014FY2021
Operating margin
4.5%
2.0% a year earlier
FY2014FY2021
Net income
$19 million
FY2014FY2021
Diluted EPS
$0.26
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
831
892
910
-6.8%
Cost of revenue
222
242
254
-8.3%
Gross profit
609
650
656
-6.2%
Gross margin
73.3%
72.8%
72.1%
Research and development
179
188
204
-4.8%
Operating income
37.1
17.6
-71.6
+110.5%
Operating margin
4.5%
2.0%
-7.9%
Interest expense
10.9
20.6
26.1
-47.2%
Pre-tax income
22.3
1.9
-92.9
+1,059.3%
Income tax
3.0
4.7
-19.6
-36.9%
Effective tax rate
13.2%
243.1%
n/a
Net income
19.4
-2.8
-73.3
Net margin
2.3%
-0.3%
-8.1%
Diluted EPS
$0.26
-$0.04
-$0.93
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
214
225
150
-4.9%
Capital expenditure
12.0
19.9
23.4
-39.8%
Free cash flow
202
205
126
-1.5%
Free cash flow margin
24.3%
23.0%
13.9%
Cash from investing
24.7
-4.3
-26.3
Cash from financing
-118
-287
-79.3
Depreciation and amortisation
106
116
138
-8.9%
Share-based compensation
51.9
50.9
56.3
+2.0%
Buybacks
3.3
175
14.5
-98.1%
Diluted shares, weighted
74m
75m
79m
-1.8%
Shares outstanding at period end
74m
72m
78m
+2.1%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
2,006
1,938
2,065
+3.5%
Debt
350
450
550
-22.2%
Operating lease liabilities
61.3
70.7
n/a
-13.3%
Other liabilities
668
662
655
+0.9%
Total liabilities and equity
3,085
3,121
3,270
-1.1%
Fixed assets
48.5
57.7
59.0
-16.0%
Goodwill
1,718
1,726
1,715
-0.5%
Intangible assets
512
582
669
-12.1%
Investments
9.3
50.6
77.4
-81.7%
Cash and equivalents
467
338
410
+38.0%
Receivables
198
214
235
-7.4%
Inventory
22.8
22.2
26.3
+2.6%
Other assets
110
130
77.9
-15.3%
Total assets
3,085
3,121
3,270
-1.1%
10-K for the year ended 31 March 2021, filed 20 May 2021: the filing.