Viavi Solutions (VIAV) FY2016 results: revenue $906 million, up 3.7% on the year
Viavi Solutions Inc. (VIAV) reported revenue of $906 million for fiscal 2016, the year ended 2 July 2016, up 3.7% on the year before. Net income was -$99 million, and diluted earnings per share $-0.42. The figures are the company's own, from the 10-K it filed with the SEC on 28 August 2018.
Revenue
$906 million
+3.7% on the year
FY2009FY2016
Operating margin
-9.3%
-8.7% a year earlier
FY2009FY2016
Net income
-$99 million
FY2009FY2016
Diluted EPS
-$0.42
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
906
874
927
+3.7%
Cost of revenue
357
354
916
+0.8%
Gross profit
550
520
528
+5.7%
Gross margin
60.7%
59.5%
56.9%
Research and development
166
173
162
-4.0%
Selling, general and administrative
351
376
385
-6.7%
Operating income
-84.3
-75.8
-55.6
Operating margin
-9.3%
-8.7%
-6.0%
Interest expense
35.7
33.3
29.4
+7.2%
Pre-tax income
-45.9
-105
-85.8
Income tax
4.5
26.1
-11.2
-82.8%
Net income
-99.2
-88.1
-17.8
Net margin
-10.9%
-10.1%
-1.9%
Diluted EPS
-$0.42
-$0.38
-$0.08
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
64.3
82.3
177
-21.9%
Capital expenditure
35.5
102
99.8
-65.0%
Free cash flow
28.8
-19.2
76.8
Free cash flow margin
3.2%
-2.2%
8.3%
Cash from investing
244
-5.8
-652
Cash from financing
-159
-7.3
490
Depreciation and amortisation
52.7
100
88.0
-47.5%
Share-based compensation
44.0
66.9
64.1
-34.2%
Buybacks
44.5
4.8
155
+827.1%
Diluted shares, weighted
234m
233m
234m
+0.6%
Shares outstanding at period end
232m
235m
230m
-1.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
689
1,101
1,188
-37.4%
Short-term borrowings
0.0
0.0
0.0
Debt
583
562
536
+3.9%
Other liabilities
406
555
628
-26.9%
Total liabilities and equity
1,678
2,218
2,352
-24.3%
Fixed assets
133
149
289
-10.9%
Goodwill
152
256
261
-40.5%
Intangible assets
59.9
90.6
178
-33.9%
Investments
485
465
552
+4.2%
Cash and equivalents
483
334
297
+44.4%
Receivables
148
152
296
-2.6%
Inventory
51.4
53.8
153
-4.5%
Other assets
166
717
325
-76.9%
Total assets
1,678
2,218
2,352
-24.3%
10-K for the year ended 2 July 2016, filed 28 August 2018: the filing.