Viavi Solutions (VIAV) FY2013 results: revenue $1.7 billion, up 0.9% on the year
Viavi Solutions Inc. (VIAV) reported revenue of $1.7 billion for fiscal 2013, the year ended 29 June 2013, up 0.9% on the year before. Net income was $57 million, and diluted earnings per share $0.24. The figures are the company's own, from the 10-K it filed with the SEC on 25 August 2015.
Revenue
$1.7 billion
+0.9% on the year
FY2009FY2013
Operating margin
-1.5%
0.0% a year earlier
FY2009FY2013
Net income
$57 million
FY2009FY2013
Diluted EPS
$0.24
FY2009FY2013
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
1,677
1,662
1,782
+0.9%
Cost of revenue
919
898
939
+2.3%
Gross profit
695
706
786
-1.5%
Gross margin
41.4%
42.4%
44.1%
Research and development
258
244
238
+5.9%
Selling, general and administrative
429
427
434
+0.5%
Operating income
-24.9
0.4
72.5
Operating margin
-1.5%
0.0%
4.1%
Interest expense
17.9
27.3
25.4
-34.4%
Pre-tax income
-46.9
-14.1
52.7
Income tax
-104
12.0
-26.0
Effective tax rate
n/a
n/a
-49.3%
Net income
57.0
-55.6
71.6
Net margin
3.4%
-3.3%
4.0%
Diluted EPS
$0.24
-$0.24
$0.31
$ 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
188
119
205
+57.7%
Capital expenditure
65.1
72.2
117
-9.8%
Free cash flow
123
46.9
88.6
+161.6%
Free cash flow margin
7.3%
2.8%
5.0%
Cash from investing
-25.0
-106
-188
Cash from financing
-284
-1.9
31.1
Depreciation and amortisation
81.1
92.0
90.0
-11.8%
Share-based compensation
56.5
49.1
41.4
+15.1%
Diluted shares, weighted
239m
230m
233m
+4.0%
Shares outstanding at period end
237m
232m
228m
+2.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,161
1,039
1,065
+11.8%
Debt
0.0
293
286
Other liabilities
554
538
600
+3.0%
Total liabilities and equity
1,715
1,870
1,951
-8.3%
Fixed assets
247
253
249
-2.3%
Goodwill
115
68.7
67.4
+67.5%
Intangible assets
150
179
275
-16.3%
Investments
205
322
300
-36.2%
Cash and equivalents
281
401
395
-29.9%
Receivables
273
306
334
-10.6%
Inventory
146
174
171
-16.4%
Other assets
298
166
158
+79.7%
Total assets
1,715
1,870
1,951
-8.3%
10-K for the year ended 29 June 2013, filed 25 August 2015: the filing.