Viavi Solutions (VIAV) FY2017 results: revenue $805 million, down 11.2% on the year
Viavi Solutions Inc. (VIAV) reported revenue of $805 million for fiscal 2017, the year ended 1 July 2017, down 11.2% on the year before. Net income was $160 million, and diluted earnings per share $0.68. The figures are the company's own, from the 10-K it filed with the SEC on 28 August 2018.
Revenue
$805 million
-11.2% on the year
FY2010FY2017
Operating margin
0.9%
-9.3% a year earlier
FY2010FY2017
Net income
$160 million
FY2010FY2017
Diluted EPS
$0.68
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
805
906
874
-11.2%
Cost of revenue
325
357
354
-8.7%
Gross profit
479
550
520
-12.9%
Gross margin
59.5%
60.7%
59.5%
Research and development
136
166
173
-18.1%
Selling, general and administrative
300
351
376
-14.4%
Operating income
7.0
-84.3
-75.8
Operating margin
0.9%
-9.3%
-8.7%
Interest expense
43.2
35.7
33.3
+21.0%
Pre-tax income
180
-45.9
-105
Income tax
21.4
4.5
26.1
+375.6%
Effective tax rate
11.9%
n/a
n/a
Net income
160
-99.2
-88.1
Net margin
19.9%
-10.9%
-10.1%
Diluted EPS
$0.68
-$0.42
-$0.38
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
94.3
64.3
82.3
+46.7%
Capital expenditure
38.6
35.5
102
+8.7%
Free cash flow
55.7
28.8
-19.2
+93.4%
Free cash flow margin
6.9%
3.2%
-2.2%
Cash from investing
114
244
-5.8
-53.4%
Cash from financing
311
-159
-7.3
Depreciation and amortisation
43.4
52.7
100
-17.6%
Share-based compensation
33.2
44.0
66.9
-24.5%
Buybacks
92.0
44.5
4.8
+106.7%
Diluted shares, weighted
234m
234m
233m
+0.2%
Shares outstanding at period end
228m
232m
235m
-1.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
804
689
1,101
+16.6%
Short-term borrowings
0.0
0.0
0.0
Debt
931
583
562
+59.7%
Other liabilities
376
406
555
-7.4%
Total liabilities and equity
2,110
1,678
2,218
+25.8%
Fixed assets
137
133
149
+2.9%
Goodwill
152
152
256
-0.3%
Intangible assets
31.1
59.9
90.6
-48.1%
Investments
432
485
465
-10.8%
Cash and equivalents
1,004
483
334
+108.0%
Receivables
120
148
152
-18.9%
Inventory
48.0
51.4
53.8
-6.6%
Other assets
186
166
717
+12.2%
Total assets
2,110
1,678
2,218
+25.8%
10-K for the year ended 1 July 2017, filed 28 August 2018: the filing.