Viavi Solutions (VIAV) FY2015 results: revenue $874 million, down 5.7% on the year
Viavi Solutions Inc. (VIAV) reported revenue of $874 million for fiscal 2015, the year ended 27 June 2015, down 5.7% on the year before. Net income was -$88 million, and diluted earnings per share $-0.38. The figures are the company's own, from the 10-K it filed with the SEC on 25 August 2015.
Revenue
$874 million
-5.7% on the year
FY2009FY2015
Operating margin
-8.7%
-6.0% a year earlier
FY2009FY2015
Net income
-$88 million
FY2009FY2015
Diluted EPS
-$0.38
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
874
927
1,677
-5.7%
Cost of revenue
354
916
919
-61.4%
Gross profit
520
528
695
-1.5%
Gross margin
59.5%
56.9%
41.4%
Research and development
173
162
258
+7.1%
Selling, general and administrative
376
385
429
-2.2%
Operating income
-75.8
-55.6
-24.9
Operating margin
-8.7%
-6.0%
-1.5%
Interest expense
33.3
29.4
17.9
+13.3%
Pre-tax income
-105
-85.8
-46.9
Income tax
26.1
-11.2
-104
Net income
-88.1
-17.8
57.0
Net margin
-10.1%
-1.9%
3.4%
Diluted EPS
-$0.38
-$0.08
$0.24
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
82.3
177
188
-53.4%
Capital expenditure
102
99.8
65.1
+1.7%
Free cash flow
-19.2
76.8
123
Free cash flow margin
-2.2%
8.3%
7.3%
Cash from investing
-5.8
-652
-25.0
Cash from financing
-7.3
490
-284
Depreciation and amortisation
100
88.0
81.1
+14.0%
Share-based compensation
66.9
64.1
56.5
+4.4%
Buybacks
4.8
155
n/a
-96.9%
Diluted shares, weighted
233m
234m
239m
-0.6%
Shares outstanding at period end
235m
230m
237m
+2.2%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,101
1,188
1,161
-7.3%
Short-term borrowings
0.0
0.0
n/a
Debt
562
536
0.0
+4.7%
Other liabilities
555
628
554
-11.6%
Total liabilities and equity
2,218
2,352
1,715
-5.7%
Fixed assets
149
289
247
-48.3%
Goodwill
256
261
115
-2.1%
Intangible assets
90.6
178
150
-49.0%
Investments
465
552
205
-15.7%
Cash and equivalents
334
297
281
+12.6%
Receivables
152
296
273
-48.6%
Inventory
53.8
153
146
-64.9%
Other assets
717
325
298
+120.3%
Total assets
2,218
2,352
1,715
-5.7%
10-K for the year ended 27 June 2015, filed 25 August 2015: the filing.