Viavi Solutions (VIAV) FY2018 results: revenue $876 million, up 8.8% on the year
Viavi Solutions Inc. (VIAV) reported revenue of $876 million for fiscal 2018, the year ended 30 June 2018, up 8.8% on the year before. Net income was -$49 million, and diluted earnings per share $-0.20. The figures are the company's own, from the 10-K it filed with the SEC on 28 August 2018.
Revenue
$876 million
+8.8% on the year
FY2011FY2018
Operating margin
0.2%
0.9% a year earlier
FY2011FY2018
Net income
-$49 million
FY2011FY2018
Diluted EPS
-$0.20
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
876
805
906
+8.8%
Cost of revenue
387
325
357
+19.0%
Gross profit
488
479
550
+2.0%
Gross margin
55.8%
59.5%
60.7%
Research and development
133
136
166
-2.2%
Selling, general and administrative
324
300
351
+8.0%
Operating income
1.9
7.0
-84.3
-72.9%
Operating margin
0.2%
0.9%
-9.3%
Interest expense
47.3
43.2
35.7
+9.5%
Pre-tax income
-35.7
180
-45.9
Income tax
12.9
21.4
4.5
-39.7%
Effective tax rate
n/a
11.9%
n/a
Net income
-48.6
160
-99.2
Net margin
-5.5%
19.9%
-10.9%
Diluted EPS
-$0.20
$0.68
-$0.42
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
66.0
94.3
64.3
-30.0%
Capital expenditure
42.5
38.6
35.5
+10.1%
Free cash flow
23.5
55.7
28.8
-57.8%
Free cash flow margin
2.7%
6.9%
3.2%
Cash from investing
-286
114
244
Cash from financing
-180
311
-159
Depreciation and amortisation
56.7
43.4
52.7
+30.6%
Share-based compensation
30.5
33.2
44.0
-8.1%
Buybacks
40.8
92.0
44.5
-55.7%
Diluted shares, weighted
227m
234m
234m
-3.2%
Shares outstanding at period end
227m
228m
232m
-0.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
735
804
689
-8.5%
Short-term borrowings
n/a
0.0
0.0
Debt
833
931
583
-10.5%
Other liabilities
459
376
406
+22.1%
Total liabilities and equity
2,027
2,110
1,678
-4.0%
Fixed assets
170
137
133
+24.5%
Goodwill
336
152
152
+121.8%
Intangible assets
235
31.1
59.9
+655.9%
Investments
169
432
485
-60.8%
Trading assets
1.6
n/a
n/a
Cash and equivalents
611
1,004
483
-39.1%
Receivables
219
120
148
+81.6%
Inventory
92.3
48.0
51.4
+92.3%
Other assets
192
186
166
+3.1%
Total assets
2,027
2,110
1,678
-4.0%
10-K for the year ended 30 June 2018, filed 28 August 2018: the filing.