Viavi Solutions (VIAV) FY2019 results: revenue $1.1 billion, up 29.1% on the year
Viavi Solutions Inc. (VIAV) reported revenue of $1.1 billion for fiscal 2019, the year ended 29 June 2019, up 29.1% on the year before. Net income was $5 million, and diluted earnings per share $0.02. The figures are the company's own, from the 10-K it filed with the SEC on 27 August 2019.
Revenue
$1.1 billion
+29.1% on the year
FY2012FY2019
Operating margin
6.0%
0.2% a year earlier
FY2012FY2019
Net income
$5 million
FY2012FY2019
Diluted EPS
$0.02
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,130
876
805
+29.1%
Cost of revenue
479
387
325
+23.7%
Gross profit
651
488
479
+33.4%
Gross margin
57.6%
55.8%
59.5%
Research and development
187
133
136
+40.3%
Selling, general and administrative
344
324
300
+5.9%
Operating income
67.4
1.9
7.0
+3,447.4%
Operating margin
6.0%
0.2%
0.9%
Interest expense
34.3
47.3
43.2
-27.5%
Pre-tax income
39.3
-35.7
180
Income tax
31.5
12.9
21.4
+144.2%
Effective tax rate
80.2%
n/a
11.9%
Net income
5.4
-48.6
160
Net margin
0.5%
-5.5%
19.9%
Diluted EPS
$0.02
-$0.20
$0.68
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
139
66.0
94.3
+110.3%
Capital expenditure
45.0
42.5
38.6
+5.9%
Free cash flow
93.8
23.5
55.7
+299.1%
Free cash flow margin
8.3%
2.7%
6.9%
Cash from investing
80.6
-286
114
Cash from financing
-300
-180
311
Depreciation and amortisation
77.8
56.7
43.4
+37.2%
Share-based compensation
38.2
30.5
33.2
+25.2%
Buybacks
11.2
40.8
92.0
-72.5%
Diluted shares, weighted
231m
227m
234m
+1.8%
Shares outstanding at period end
229m
227m
228m
+0.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
627
735
804
-14.6%
Short-term borrowings
0.0
n/a
0.0
Debt
579
833
931
-30.5%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
609
459
376
+32.8%
Total liabilities and equity
1,815
2,027
2,110
-10.4%
Fixed assets
180
170
137
+5.5%
Goodwill
381
336
152
+13.3%
Intangible assets
212
235
31.1
-10.0%
Investments
1.5
169
432
-99.1%
Trading assets
1.5
1.6
n/a
-6.2%
Cash and equivalents
522
611
1,004
-14.7%
Receivables
238
219
120
+8.7%
Inventory
103
92.3
48.0
+11.3%
Other assets
178
192
186
-7.4%
Total assets
1,815
2,027
2,110
-10.4%
10-K for the year ended 29 June 2019, filed 27 August 2019: the filing.