VIAV FY 2017 Earnings Report — Viavi Solutions Inc. Revenue & Financial Results | Market Cap Arena

Viavi Solutions Inc.VIAV

FY 2017 Earnings

Reported August 29, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$811M	—	$906M	—	-10.5%
Op. Income	$35M	—	$18M	—	100.0%
Gross Margin	58.2%	—	59.0%	—	-0.9pp
Net Margin	20.6%	—	-10.9%	—	31.5pp
EPS (Diluted)	$0.71	—	$-0.42	—	269.0%
Free Cash Flow	$41M	—	$17M	—	137.9%

Revenue Flow

Item	Amount
REVENUE	$811M
Cost of Revenue	$339M
GROSS PROFIT	$472M
R&D Expenses	$136M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$301M
Other Expenses	$0
Operating Expenses	$437M
Cost & Expenses	$776M
OPERATING INCOME	$35M
Interest Income	$11M
Interest Expense	$43M
Other Income/Expenses	$151M
INCOME BEFORE TAX	$187M
Income Tax Expense	$21M
Net Income from Continuing Ops	$165M
Net Income from Discontinued Ops	$2M
Other Adjustments	$0
NET INCOME	$167M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$167M
D&A	$58M
EBIT	$230M
EBITDA	$288M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$811M
Cost of Revenue	$339M
GROSS PROFIT	$472M
R&D Expenses	$136M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$301M
Other Expenses	$0
Operating Expenses	$437M
Cost & Expenses	$776M
OPERATING INCOME	$35M
Interest Income	$11M
Interest Expense	$43M
Other Income/Expenses	$151M
INCOME BEFORE TAX	$187M
Income Tax Expense	$21M
Net Income from Continuing Ops	$165M
Net Income from Discontinued Ops	$2M
Other Adjustments	$0
NET INCOME	$167M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$167M
D&A	$58M
EBIT	$230M
EBITDA	$288M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$167M
Depreciation & Amortization	$58M
Stock-Based Compensation	$33M
Deferred Income Tax	$2M
Other Non-Cash Items	-$158M
Change in Working Capital	-$22M
OPERATING CASH FLOW	$80M
Capital Expenditure	-$39M
Acquisitions (Net)	$6M
Purchases of Investments	-$679M
Sales/Maturities of Investments	$826M
Other Investing Activities	$6M
NET CASH FROM INVESTING	$114M
Net Debt Issuance	$415M
Common Stock Repurchased	-$92M
Common Dividends Paid	$0
Other Financing Activities	$3M
NET CASH FROM FINANCING	$325M
FREE CASH FLOW	$41M
Net Change in Cash	$521M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.0B
Short-Term Investments	$432M
Net Receivables	$120M
Inventory	$48M
Other Current Assets	$54M
TOTAL CURRENT ASSETS	$1.7B
PP&E (Net)	$137M
Goodwill	$152M
Intangible Assets	$31M
Long-Term Investments	$5M
Tax Assets	$110M
Other Non-Current Assets	$9M
TOTAL NON-CURRENT ASSETS	$444M
TOTAL ASSETS	$2.1B
Account Payables	$33M
Short-Term Debt	$0
Deferred Revenue	$60M
Other Current Liabilities	$52M
TOTAL CURRENT LIABILITIES	$229M
Long-Term Debt	$931M
Deferred Revenue NC	$14M
Deferred Tax Liabilities	-$14M
Other Non-Current Liabilities	$120M
TOTAL NON-CURRENT LIABILITIES	$1.1B
TOTAL LIABILITIES	$1.3B
Common Stock	$200.0K
Additional Paid-In Capital	$70.2B
Retained Earnings	-$69.3B
Treasury Stock	$0
Accum. Other Comp. Income	-$92M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$786M
Minority Interest	$0
TOTAL EQUITY	$786M
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$931M
Net Debt	-$73M