QRVO FY 2019 Earnings Report — Qorvo, Inc. Revenue & Financial Results | Market Cap Arena

Qorvo, Inc.QRVO

FY 2019 Earnings

Reported May 17, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$3.1B	—	$3.0B	—	3.9%
Op. Income	$216M	—	-$638M	—	134.0%
Gross Margin	38.7%	—	38.6%	—	0.1pp
Net Margin	4.3%	—	-1.4%	—	5.7pp
EPS (Diluted)	$1.05	—	$-0.32	—	428.1%
Free Cash Flow	$589M	—	$583M	—	1.2%

Revenue Flow

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$1.9B
GROSS PROFIT	$1.2B
R&D Expenses	$450M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$476M
Other Expenses	$52M
Operating Expenses	$979M
Cost & Expenses	$2.9B
OPERATING INCOME	$216M
Interest Income	$11M
Interest Expense	$44M
Other Income/Expenses	-$125M
INCOME BEFORE TAX	$92M
Income Tax Expense	-$41M
Net Income from Continuing Ops	$133M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$133M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$133M
D&A	$663M
EBIT	$136M
EBITDA	$799M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$1.9B
GROSS PROFIT	$1.2B
R&D Expenses	$450M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$476M
Other Expenses	$52M
Operating Expenses	$979M
Cost & Expenses	$2.9B
OPERATING INCOME	$216M
Interest Income	$11M
Interest Expense	$44M
Other Income/Expenses	-$125M
INCOME BEFORE TAX	$92M
Income Tax Expense	-$41M
Net Income from Continuing Ops	$133M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$133M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$133M
D&A	$663M
EBIT	$136M
EBITDA	$799M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$133M
Depreciation & Amortization	$663M
Stock-Based Compensation	$72M
Deferred Income Tax	-$70M
Other Non-Cash Items	$109M
Change in Working Capital	-$96M
OPERATING CASH FLOW	$810M
Capital Expenditure	-$221M
Acquisitions (Net)	$0
Purchases of Investments	-$133M
Sales/Maturities of Investments	$133M
Other Investing Activities	-$27M
NET CASH FROM INVESTING	-$248M
Net Debt Issuance	-$145M
Common Stock Repurchased	-$638M
Common Dividends Paid	$0
Other Financing Activities	-$35M
NET CASH FROM FINANCING	-$777M
FREE CASH FLOW	$589M
Net Change in Cash	-$215M

Balance Sheet

Item	Amount
Cash & Equivalents	$711M
Short-Term Investments	$0
Net Receivables	$400M
Inventory	$512M
Other Current Assets	$36M
TOTAL CURRENT ASSETS	$1.7B
PP&E (Net)	$1.4B
Goodwill	$2.2B
Intangible Assets	$408M
Long-Term Investments	$98M
Tax Assets	$0
Other Non-Current Assets	$77M
TOTAL NON-CURRENT ASSETS	$4.1B
TOTAL ASSETS	$5.8B
Account Payables	$233M
Short-Term Debt	$80.0K
Deferred Revenue	$0
Other Current Liabilities	$42M
TOTAL CURRENT LIABILITIES	$436M
Long-Term Debt	$921M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$333.0K
Other Non-Current Liabilities	$91M
TOTAL NON-CURRENT LIABILITIES	$1.0B
TOTAL LIABILITIES	$1.4B
Common Stock	$4.7B
Additional Paid-In Capital	$0
Retained Earnings	-$321M
Treasury Stock	$0
Accum. Other Comp. Income	-$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.4B
Minority Interest	$0
TOTAL EQUITY	$4.4B
TOTAL LIABILITIES & EQUITY	$5.8B
Total Debt	$921M
Net Debt	$210M