Q4 2016 Earnings

Reported February 21, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	Q4 2016	Q3 2016	Q4 2015	QoQ Change	YoY Change
Revenue	$2.8B	$1.8B	—	58.1%	—
Op. Income	$137M	$77M	—	77.6%	—
Gross Margin	23.5%	24.4%	—	-0.9pp	—
Net Margin	4.0%	2.9%	—	1.2pp	—
EPS (Diluted)	$0.18	$0.08	—	117.2%	—

Revenue Flow

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$2.1B
GROSS PROFIT	$652M
R&D Expenses	$69M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$465M
Other Expenses	-$19M
Operating Expenses	$515M
Cost & Expenses	$2.6B
OPERATING INCOME	$137M
Interest Income	$4M
Interest Expense	$3M
Other Income/Expenses	$5M
INCOME BEFORE TAX	$142M
Income Tax Expense	$30M
Net Income from Continuing Ops	$111M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$112M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$112M
D&A	$36M
EBIT	$135M
EBITDA	$170M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$2.1B
GROSS PROFIT	$652M
R&D Expenses	$69M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$465M
Other Expenses	-$19M
Operating Expenses	$515M
Cost & Expenses	$2.6B
OPERATING INCOME	$137M
Interest Income	$4M
Interest Expense	$3M
Other Income/Expenses	$5M
INCOME BEFORE TAX	$142M
Income Tax Expense	$30M
Net Income from Continuing Ops	$111M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$112M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$112M
D&A	$36M
EBIT	$135M
EBITDA	$170M
EPS	$0
EPS Diluted	$0

Balance Sheet

Item	Amount
Cash & Equivalents	$600M
Short-Term Investments	$98M
Net Receivables	$340M
Inventory	$723M
Other Current Assets	$318M
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$783M
Goodwill	$54M
Intangible Assets	$478M
Long-Term Investments	$147M
Tax Assets	$0
Other Non-Current Assets	$75M
TOTAL NON-CURRENT ASSETS	$1.5B
TOTAL ASSETS	$3.7B
Account Payables	$1.2B
Short-Term Debt	$0
Deferred Revenue	$442M
Other Current Liabilities	$24M
TOTAL CURRENT LIABILITIES	$2.1B
Long-Term Debt	$640M
Deferred Revenue NC	$36M
Deferred Tax Liabilities	$15M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$691M
TOTAL LIABILITIES	$2.8B
Common Stock	$11.2K
Additional Paid-In Capital	$457M
Retained Earnings	$534M
Treasury Stock	-$103M
Accum. Other Comp. Income	-$50M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$837M
Minority Interest	$7M
TOTAL EQUITY	$844M
TOTAL LIABILITIES & EQUITY	$3.7B
Total Debt	$640M
Net Debt	$40M