Showing posts with label Financials. Show all posts
Showing posts with label Financials. Show all posts

Wednesday, August 16, 2017

Cisco posts quarterly revenue of $12.1 billion, down 4% yoy

Cisco reported fourth quarter revenue of $12.1 billion, down 4% from $12.6 billion from the same time last year. Net income (GAAP) was $2.4 billion or $0.48 per share, down 14% from $2.8 billion a year ago.

For FY 2017, Cisco's total revenue amounted to $48.0 billion, a decrease of 2%. On a GAAP basis, net income was $9.6 billion and EPS was $1.90.

"We had another strong quarter and a transformative year. We made tremendous progress transitioning our business to more software and recurring revenue and delivered on our commitment to accelerate innovation in our core and across the portfolio," said Chuck Robbins, CEO, Cisco. "The network has never been more critical to business success and we are building the network of the future."

Some highlights


  • Product revenue was down 5% and service revenue up 1%. 
  • 31% of total revenue was from recurring offers, up 4 percentage points from the fourth quarter of fiscal 2016. 
  • Revenue by geographic segment was: Americas down 6%, EMEA down 6%, and APJC up 6%. 
  • Product revenue performance was led by Wireless and Security which increased 5% and 3%, respectively. NGN Routing and Switching revenue each decreased 9%. Service Provider Video, Data Center, and Collaboration revenue decreased 10%, 4%, and 3%, respectively.
  • On a GAAP basis, total gross margin and product gross margin were 62.2% and 60.3%, respectively. 

https://newsroom.cisco.com/press-release-content?type=webcontent&articleId=1873317

Cisco's intent-based, intuitive networking launch – Part 2


An interesting aspect of Cisco's new strategic direction with its Intent-based enterprise networking is that the company has made a major bet on developing proprietary ASICs rather than relying on merchant Ethernet switching silicon from Broadcom, Cavium, Barefoot, Innovium or other merchant semiconductor suppliers. There are a number of reasons why the company may have chosen this approach. First, with Broadcom dominating the market for Ethernet...

Cisco's intent-based, intuitive networking launch – Part 1


This week Cisco outlined its vision for Intent-based Networking. Cisco CEO Chuck Robbins described the unveiling as the most significant announcement from the company in perhaps the last five years and as the 'foundation for networking' for the next 30 years. So, what exactly is it? Simply put, it is a vision. It is not a technology nor a network architecture, it is a vision of machine learning that will be applied to make networks more agile,...


Monday, August 14, 2017

VMware posts strong Q2, raises guidance

Citing broad strength across its portfolio, VMware announced preliminary financial results for its fiscal 2018 second quarter, saying it now expects revenue to be between $1.894 billion and $1.906 billion, an increase of 11.9% to 12.6% from the second quarter of 2016.


  • License revenue for the second quarter is expected to be between $727 million and $737 million, an increase of 12.9% to 14.4% from the second quarter of 2016.
  • GAAP operating margin for the second quarter is expected to be between 17.5% and 19.3%, and non-GAAP operating margin is expected to be between 30.5% and 31.1%. GAAP net income per diluted share for the second quarter is expected to be between $0.78 and $0.86 per diluted share, and non-GAAP net income per diluted share is expected to be between $1.15 and $1.19 per diluted share.

VMware also increased fiscal 2018 guidance as follows:

  • Total Revenue: Approximately $7.830 billion, up approximately 10% compared to fiscal 2016
  • License Revenue: Approximately $3.075 billion, up approximately 10% compared to fiscal 2016
  • GAAP Operating Margin: Approximately 20-21%
  • Non-GAAP Operating Margin: Approximately 32.7%
  • GAAP Net Income Per Diluted Share(1): Approximately $3.19-$3.47 per diluted share
  • Non-GAAP Net Income Per Diluted Share(1): Approximately $5.08 per diluted share
  • Diluted Share Count: 413 million


http://www.vmware.com

Friday, August 11, 2017

NVIDIA Cits Growth in Data center, Auto

NVIDIA reported record revenue for its second quarter ended July 30, 2017, of $2.23 billion, up 56 percent from $1.43 billion a year earlier, and up 15 percent from $1.94 billion in the previous quarter. GAAP EPS was $0.92, up 124 percent from a year ago.
"Adoption of NVIDIA GPU computing is accelerating, driving growth across our businesses," said Jensen Huang, founder and chief executive officer of NVIDIA. "Datacenter revenue increased more than two and a half times. A growing number of car and robot-taxi companies are choosing our DRIVE PX self-driving computing platform. And in Gaming, increasingly the world's most popular form of entertainment, we power the fastest growing platforms - GeForce and Nintendo Switch.

"Nearly every industry and company is awakening to the power of AI. Our new Volta GPU, the most complex processor ever built, delivers a 100-fold speedup for deep learning beyond our best GPU of four years ago. This quarter, we shipped Volta in volume to leading AI customers. This is the era of AI, and the NVIDIA GPU has become its brain. We have incredible opportunities ahead of us," he said.

http://investor.nvidia.com/results.cfm


NVIDIA Debuts Latest Quadro Pascal GPUs


NVIDIA introduced its latest line-up of Quadro GPUs products, all based on its Pascal architecture and designed for professional workflows in engineering, deep learning, VR, and many vertical applications. "Professional workflows are now infused with artificial intelligence, virtual reality and photorealism, creating new challenges for our most demanding users," said Bob Pette, vice president of Professional Visualization at NVIDIA. "Our new Quadro...





NVIDIA Advances its Pascal-based GPUs for AI


NVIDIA is expanding its Pascal™ architecture-based deep learning platform with the introduction of new Tesla P4 and P40 GPU accelerators and new software. The solution is aimed at accelerating inferencing production workloads for artificial intelligence services, such as voice-activated assistance, email spam filters, and movie and product recommendation engines. NVIDIA said its GPU are better at these tasks than current CPU-based technology, which...


Thursday, August 3, 2017

Arista's Q2 Revenue Jumps to $405mn, up 51% YoY

Arista Networks reports stronger than expected results for its second quarter ended June 30, 2017.

Revenue rose to $405.2 million, an increase of 20.8% compared to the first quarter of 2017, and an increase of 50.8% from the second quarter of 2016. GAAP gross margin was 64.1%, compared to GAAP gross margin of 63.9% in the first quarter of 2017 and 63.8% in the second quarter of 2016. GAAP net income was $102.7 million, or $1.30 per diluted share, compared to GAAP net income of $38.9 million, or $0.53 per diluted share, in the second quarter of 2016.

"As we complete our third anniversary of becoming a public company, I am pleased with our record results in Q2 2017,” stated Jayshree Ullal, Arista President and CEO. “Our substantial financial performance, customer success and industry recognition has accelerated the migration to mainstream cloud networking.”

http://investors.arista.com/

Infinera Posts Q2 Revenue of $177mn

Infinera reported Q2 revenue of $176.8 million compared to $175.5 million in the first quarter of 2017 and $258.8 million in the second quarter of 2016. GAAP gross margin for the quarter was 36.7% compared to 36.5% in the first quarter of 2017 and 47.8% in the second quarter of 2016. GAAP operating margin for the quarter was (22.9)% compared to (21.6)% in the first quarter of 2017 and 6.2% in the second quarter of 2016.

GAAP net loss for the quarter was $(42.8) million, or $(0.29) per share, compared to a net loss of $(40.5) million, or $(0.28) per share, in the first quarter of 2017, and net income of $11.5 million, or $0.08 per diluted share, in the second quarter of 2016.

“Highlighted by delivery of ICE4 products to market, I was pleased with our performance in the second quarter,” said Tom Fallon, Infinera's Chief Executive Officer. “We delivered the Cloud Xpress 2 to three customers and had early deployments of the XT-3300. As we continue to deliver on a suite of new products over the upcoming quarters, I believe we are well positioned to grow market share and to gradually improve our financial performance.”

http://www.infinera.com

Oclaro reports Q4 revenue of $149.38m, up 19.3% yr/yr

Oclaro reported financial results for its fourth quarter and fiscal year 2017, ended July 1, 2017, as follows:

1.  Revenue for the fourth quarter of $149.38 million, down 7.9% compared with $162.18 million for the third quarter and up 19.3% from $125.18 million for the fourth quarter of fiscal 2016.

2.  Gross income for the fourth quarter of $61.33 million, down 8.2% compared with $66.79 million for the third quarter and up 52.6% from $40.18 million for the fourth quarter of fiscal 2016.

3.  R&D expenditure for the fourth quarter of $15.75 million, up 8.8% compared with $14.48 million for the third quarter and up 24.3% from $12.67 million for the fourth quarter of fiscal 2016.

4.  SG&A expenditure for the fourth quarter of $15.58 million, up 5.7% compared with $14.74 million for the third quarter and up 8.2% from $14.40 million for the fourth quarter of fiscal 2016.

5.  Total operating expenditure for the fourth quarter of $31.44 million, up 8.2% compared with $29.05 million for the third quarter and up 14.9% from $27.37 million for the fourth quarter of fiscal 2016.

6.  On a GAAP basis, a net income for the fourth quarter of $56.03 million, compared with a net income of $38.21 million for the third quarter and a net income of $11.84 million for the fourth quarter of fiscal 2016.

On a non-GAAP basis, a net income for the fourth quarter of $33.93 million, compared with a net income of $39.89 million for the third quarter and a net income of $14.41 million for the fourth quarter of fiscal 2016.

7.  Cash, cash equivalents and restricted cash as of July 1, 2017 $219.99 million, versus $214.78 million as at April 1, 2017 and $96.64 million as at July 2, 2016.

Additional results and notes

For the full year 2017 Oclaro reported revenue of $600.97 million, compared with $407.91 million in 2016, and a net income of $127.86 million, versus net income of $8.58 million for the prior year.

Oclaro stated that, as expected, QSFP28 sales in the fourth quarter doubled sequentially, while QSFP28 and ACO products accounted for over 40% of total sales, with demand expected to be strong in fiscal year 2018 driven by growth in the metro and data centre markets. 100 Gbit/s and beyond sales were $121 million in the fourth quarter and represented 81% of total sales. Sales of client-side CFP products declined by 25% and 40 Gbit/s and below product sales decreased by over 20%.
In the fourth quarter, Oclaro's top four customers represented 55% of total revenue, versus 68% in the second quarter. The top four customers contributed 17%, 13% and 12% of sales.. For fiscal year 2017 the top customers were Cisco with 18%, ZTE 18%, Huawei with 15% and Nokia 12%.

Oclaro also announced the appointment of Ian Small, most recently chief data officer at Telefónica, to its board of directors, effective September 1, 2017. On July 27th, Oclaro increased the size of the board from seven to eight members.

Outlook

For the first quarter, Oclaro expects revenue of between $151 and $159 million, representing a sequential increase of 3.8% at the midpoint.

MRV reports Q2 revenue of $19.72m, down 6.8% Q/Q

MRV Communications reported financial results for the second quarter ended June 30, 2017 as follows:

1.         Revenue for the second quarter of 2017 of $19.72 million, down 6.8% compared with $21.17 million in the preceding first quarter and down 8.6% versus $21.58 million in the prior year second quarter.

2.         Gross profit for the second quarter of $10.16 million, down 5.0% compared with $10.70 million in the preceding first quarter and up 1.2% versus $10.04 million in the prior year second quarter.

3.         R&D expenditure for the second quarter of $4.61 million, down 2.5% compared with $4.73 million in the preceding first quarter and down 10.0% versus $5.12 million in the prior year second quarter.

4.         SG&A expenditure for the second quarter of $7.45 million, up 10.0% compared with $6,77 million in the preceding first quarter and up 6.3% versus $7.01 million in the prior year second quarter.

5.         Total operating expenditure for the second quarter of $12.06 million, up 4.9% compared with $11.50 million in the preceding first quarter and down 0.6% versus $12.13 million in the prior year second quarter.

6.         On a GAAP basis, net loss for the second quarter of $2.10 million, compared with a net loss of $1.04 million in the preceding first quarter and a net loss of $2.02 million in the prior year second quarter.

On a non-GAAP basis, net loss for the second quarter of $0.44 million, compared with a net loss of $0.52 million in the preceding first quarter and a net loss of $1.31 million in the prior year second quarter.

7.         Cash and cash equivalents as of June 30, 2017 of $24.33 million, compared with $21.41 million as at March 31, 2017 and compared with $25.12 million as at December 31, 2016.

Additional results and notes

MRV noted that on July 2, 2017 it entered into a merger agreement with ADVA NA Holdings and its subsidiary Golden Acquisition (Merger Sub). Under the merger agreement Merger Sub was to commence a cash tender offer to purchase all issued and outstanding shares of MRV for $10.00 per share. On completion of the offer Merger Sub will merge with and into the company, with MRV continuing as the surviving corporation and a wholly owned subsidiary of ADVA.


On July 17th, the offer commenced as per the agreement and is currently scheduled to expire at midnight, August 11, 2017.

NeoPhotonics Posts Q2 Revenue of $73 Million

NeoPhotonics reported Q2 revenue of $73.2 million, up $1.5 million, or 2%, from the prior quarter, but down from $99 million for the same period last year. Gross margin was 22.9%, down from 25.8% in the prior quarter
Non-GAAP Gross margin was 23.9%, down from 26.3% in the prior quarter. The was a net loss of $9.3 million, an improvement from a net loss of $11.5 million in the prior quarter.

"We are pleased to report revenue of $73.2 million at the upper end of our previously-announced outlook range and representing sequential growth from the first quarter, including modest sequential growth in China despite an inventory overhang,” said Tim Jenks, Chairman and CEO of NeoPhotonics. “While the near term outlook in China isn’t certain, we see positive indicators there for the longer-term and we see strong current demand in North America. We anticipate robust growth in the medium and long term driven by metro, data center interconnect, a normalized China market and the emergence of 400G and above,” concluded Mr. Jenks.

http://www.neophotonics.com

Wednesday, July 26, 2017

Juniper reports Q2 revenue of $1,308.9m, up 7.2% Q/Q

Juniper Networks reported preliminary financial results for the three months ended June 30, 2017, as follows:

1.  Revenue for the second quarter of 2017 of $1,308.9 million, up 7.2% compared with $1,221.0 million in the first quarter and up 7.2% from $1,221.3 million in the second quarter of 2016.

2.  Gross profit for the second quarter of $801.9 million, up 7.4% compared with $746.6 million in the first quarter and up 6.0% from $756.4 million in the second quarter of 2016.

3.  R&D expenditure for the second quarter of $240.2 million, down 13.0% compared with $276.2 million in the first quarter and down 3.1% from $247.9 million in the second quarter of 2016.

4.  SG&A expenditure for the second quarter of $295.5 million, up 0.4% compared with $294.2 million in the first quarter and down 2.2% from $302.3 million in the second quarter of 2016.

5.  Total operating expenditure for the second quarter of $543.7 million, down 8.1% compared with $590.3 million in the first quarter and down 1.6% from $552.6 million in the second quarter of 2016.

6.  On a GAAP basis, net income for the second quarter of 2017 of $179.8 million, compared with net income of $108.8 million in the second quarter and net income of $140.0 million in the second quarter of 2016.

On a non-GAAP basis, net income for the second quarter of 2017 of $220.5 million, compared with net income of $178.0 million in the second quarter and net income of $191.6 million in the second quarter of 2016.

7.  Cash, cash equivalents and short and long-term investments as of June 30, 2017 of $4,214.6 million, compared with $4,043.7 million as at March 31, 2017,

Additional results and notes

For the second quarter of 2017, Juniper reported product revenue of $917.2 million, including routing sales of $572.5 million, down 0.4% year on year, and service revenue of $391.7 million, up 9.0% year on year.

On a geographic basis, second quarter revenue was split as follows: Americas sales of $800.8 million, up 11.2% year on year; EMEA sales of $288.2 million, down 3.9% year on year; Asia Pacific sales of $219.9 million, up 9.3% year on year.

Net cash flow from operations for the second quarter of 2017 was $299 million, compared to $545 million in the first quarter and $360 million in the second quarter of 2016.

Outlook


For the third quarter ending September 30, 2017, Juniper expects revenue of approximately $1,320 million, plus or minus $30 million, representing a sequential increase of 0.8% at the midpoint.

Thursday, July 20, 2017

ZTE expects H1 revenue of RMB 54.01bn, up 13.1% YoY

ZTE has announced preliminary financial results for the first half ended June 30, 2017, as follows:

1.  Operating revenue for the first half of 2017 of RMB 54.01 billion (approximately $8.00 billion), up 13.1% compared with RMB 47.76 billion in first half of 2016.

2.  Operating profit for the first half of RMB 3.29 billion, up 564.8% compared with RMB 495 million in first half of 2016.

3.  Net profit attributable to shareholders of RMB 2.29 billion (approximately $339 million), up 29.8% compared with profit of RMB 1.77 billion in first half of 2016.

ZTE noted that in carrier networks it experienced growth in both operating revenue and gross profit for wireless communications and fixed-line and bearer systems as domestic carriers in China continued to invest in transmission and access systems for 4G projects. In the consumer business, it achieved growth in operating revenue and gross profit for handset products supported by overseas market development.

Thursday, June 1, 2017

Ciena reports revenue of $707.0 million, up 10% YoY

Ciena reported revenue of $707.0 million for its fiscal second quarter 2017,  as compared to $640.7 million for the same period last year. Net income (GAAP) for the fiscal second quarter 2017 was $38.0 million, or $0.25 per diluted common share, which compares to a GAAP net income of $14.0 million, or $0.10 per diluted common share, for the fiscal second quarter 2016.

“We delivered outstanding second quarter performance across all financial metrics, underpinned by positive market dynamics and a growing competitive advantage," said Gary B. Smith, president and CEO, Ciena. "We continue to win as an innovation powerhouse with global scale and deep customer relationships across a broad set of applications and market segments."

http://www.ciena.com/about/newsroom/press-releases/Ciena-Reports-Fiscal--Second-Quarter-2017---Financial--Results.html

Thursday, May 25, 2017

Nutanix Posts Q1 Revenue of $192 Million Up 67% YOY

Nutanix reported Q1 2017 revenue of $191.8 million, up 67% year-over-year from $114.7 million in the third quarter of fiscal 2016. Billings reached $234.1 million, growing 47% year-over-year from $159.5 million in the third quarter of fiscal 2016. There was a net loss (GAAP) of $112.0 million, compared to a GAAP net loss of $46.8 million in the third quarter of fiscal 2016.

“We continue to execute on our strategy of building a cloud operating system that provides our customers maximum choice of hardware platforms. We recently established a partnership with IBM to bring to market the industry’s first hyperconverged solution on Power Systems, and introduced support for HPE ProLiant and Cisco UCS blade servers,” said Dheeraj Pandey, CEO, Nutanix. “Our third quarter results reflect our continue focus on the Global 2000 as well as a measurable improvement in the number of larger deals in the quarter, particularly in North America.”

Some highlights:

  • Nutanix ended the third quarter of fiscal 2017 with 6,172 end-customers, adding approximately 790 new end-customers during the quarter. Third quarter customer wins included Caterpillar Inc., KYOCERA Communication Systems Co., Ltd., MobileIron, SAIC Volkswagen, Société Générale, and Sprint.
  • Added Support for New Hardware Platforms: The company announced plans to expand the supported hardware platforms for its enterprise cloud OS Software to include Hewlett Packard Enterprise (HPE) ProLiant rackmount servers and Cisco UCS B-Series blade servers, allowing customers greater choice of hardware.
  • Partnered with IBM for New HCI Solution: New partnership between Nutanix and IBM® will bring a turnkey hyperconverged solution combining Nutanix’s software and IBM Power Systems targeting high-performance workloads and one-click private clouds for large enterprises.
  • Expanded Economic Consumption Model with Nutanix Go: Nutanix Go offers qualified U.S. customers a new pricing model that enables enterprises to build their cloud, from hardware to software, using operating budgets. This innovative economic model allows customers to break free of long-term capital budget commitments and align with the purchasing experience of the public cloud.
  • Increased Number of $1 Million+ Deals: 34 customers with over $1 million in the quarter as a result of an increased focus on large deals.

http://ir.nutanix.com/company/financial/

Thursday, May 18, 2017

Cisco reports Q3 revenue of $11.94bn, up 3.1%

Cisco reported financial results for its third quarter ended April 29, 2017, as follows:

1.         Revenue for the third quarter of fiscal 2017 of $11.94 billion, up 3.1% compared with $11.58 billion in the second quarter and down 0.5% from $12.00 billion in the third quarter of 2016.

2.         Gross profit for the third quarter of $7.52 billion, up 3.3% compared with $7.28 billion in the second quarter and down 2.6% from $7.72 billion in the third quarter of 2016.

3.         R&D expenditure for the third quarter of $1.51 billion, flat compared with $1.51 billion in the second quarter and down 7.4% versus $1.63 billion in the third quarter of 2016.

4.         SG&A expenditure for the third quarter of $2.71 billion, up 1.1% compared with $2.68 billion in the second quarter and down 10.0% from $3.01 billion in the third quarter of 2016.

5.         Total operating expenditure for the third quarter of $4.35 billion, down 0.7% compared with $4.38 billion in the second quarter and down 8.2% from $4.74 billion in the third quarter of 2016.

6.         On a GAAP basis, net income for the third quarter of fiscal 2017 of $2.51 billion, compared with net income of $2.35 billion in the second quarter and net income of $2.3.5 billion in the third quarter of 2016.

On a non-GAAP basis, net income for the third quarter of $3.03 billion, compared with net income of $2.86 billion in the second quarter and net income of $2.88 billion in the third quarter of 2016.

7.        Cash, cash equivalents and investments as of April 29, 2017 of $67.97 million, compared with $71.84 billion as January 28, 2017 and $65.76 billion as at July 30, 2016.

Additional results and notes

For the third quarter of fiscal 2017, Cisco reported cash flow from operating activities of $3.4 billion, compared with $3.8 billion in the second quarter and $3.1 billion in the third quarter of fiscal 2016.

In the third quarter of fiscal 2017, Cisco repurchased approximately 15 million shares of common stock under its stock repurchase program at an average price of $33.71 per share, for an aggregate purchase price of $0.5 billion. As of April 29, 2017, Cisco had repurchased and retired 4.7 billion shares of common stock at an average price of $21.21 per share for an aggregate purchase price of approximately $99.1 billion since the inception of the stock repurchase program.

  • Sales of Cisco's next-generation firewall portfolio grew 49%, with 6,000 new customers in the quarter, bringing the total customer base to over
  • 73,000.
  • Cisco's advanced threat portfolio delivered strong revenue growth of over 30%, as the company added 6,600 new customers, bringing the total number of AMP customers to over 35,000.
  • In its data center switching business, Cisco has a combined install base of over 20,000 customers who are using the portfolio to help them build, run, and manage their private and hybrid cloud environments.
  • Cisco's ACI portfolio grew 42%, as customers move to 100 gig and look to automate the network and increase network performance, visibility, and security. We added almost 1,200 new Nexus 9K customers in the quarter, bringing the total install base to 12,000.
  • APIC adoption continues to increase rapidly with over 380 new ACI customers in Q3, bringing the total to nearly 3,500.
  • Total product revenue was flat year-over-year. 
Outlook

For the fourth quarter of fiscal 2017, Cisco expects revenue to be in the range of down by between 4% and 6% year on year versus $12.60 billion in the fourth quarter of 2016.


Thursday, May 4, 2017

Arista Posts Q Revenue of $335.5 million, up 38.5% YoY

Arista Networks reported Q1 2017 revenue of $335.5 million, an increase of 2.3% compared to the fourth quarter of 2016, and an increase of 38.5% from the first quarter of 2016. GAAP gross margin was 63.9%, compared to GAAP gross margin of 64.1% in the fourth quarter of 2016 and 64.0% in the first quarter of 2016. GAAP net income was $83.0 million, or $1.07 per diluted share, compared to GAAP net income of $35.2 million, or $0.48 per diluted share, in the first quarter of 2016.

“As we kick off 2017, I am pleased with our performance this quarter,” stated Jayshree Ullal, Arista President and CEO. “We continue to experience meaningful relevance as customers shift to cloud networking.”

Commenting on the company's financial results, Ita Brennan, Arista’s CFO, said, “We are pleased with our consistent execution in the first quarter and with our outlook for Q2, reflecting continued strong customer demand for our products.”

http://investors.arista.com/company/investors-relations/investors-home/default.aspx

Wednesday, May 3, 2017

Oclaro reports Q3 revenue of $162.18m

Oclaro reported financial results for its third quarter of fiscal year 2017, ended April 1, 2017, as follows:

1.         Revenue for the third quarter of $162.18 million, up 5.4% compared with $153.91 million for the second quarter and up 60.5% from $101.05 million for the third quarter of fiscal 2016.

2.         Gross income for the second quarter of $66.79 million, up 10.0% compared with $60.74 million for the second quarter and up 147.9% from $26.94 million for the third quarter of fiscal 2016.

3.         R&D expenditure for the third quarter of $14.48 million, up 5.2% compared with $13.76 million for the first quarter and up 27.2% from $11.38 million for the third quarter of fiscal 2016.

4.         SG&A expenditure for the third quarter of $14.74 million, up 10.4% compared with $13.35 million for the second quarter and up 12.9% from $13.05 million for the third quarter of fiscal 2016.

5.         Total operating expenditure for the third quarter of $29.05 million, up 6.2% compared with $27.36 million for the first quarter and up 18.7% from $24.48 million for the third quarter of fiscal 2016.

6.         On a GAAP basis, a net income for the third quarter of $38.21 million, compared with a net income of $30.27 million for the second quarter and a net income of $89,000 million for the third quarter of fiscal 2016.

On a non-GAAP basis, a net income for the third quarter of $39.89 million, compared with a net income of $36.29 million for the second quarter and a net income of $3.32 million for the third quarter of fiscal 2016.

7.         Cash, cash equivalents and restricted cash as of April 1, 2017 of $214.78 million, compared with $223.51 million as at December 31, 2016 and $96.64 million as at July 2, 2016.

Additional results and notes

Oclaro noted that for the third quarter 100 Gbit/s and above revenue reached $125.8 million, driven by line side and client-side products, and up 11% sequentially and up 115% year on year. For 40 Gbit/s and lower speeds, revenue decreased by $4 million, or 9%, to $36.4 million.

For the third quarter, datacom, or client-side, sales increased by 9% sequentially, driven by QSFP28 products, which continued to grow, while telecom, or line side, sales grew 3% sequentially as metro and data centre interconnect sales continued to grow.

During the quarter, Oclaro noted that 10%-plus customers represented 59% of total sales, compared to 68% in the second quarter, with the same top four customers contributing 18%, 17%, 12% and 12% of sales in the third quarter.

Reported by region, in the third quarter China accounted for 36% of total sales, down sequentially from 42%; the Americas 28%, up from 21% in the prior quarter; Southeast Asia 22%; and EMEA 12% of total sales.

Outlook


For the fourth quarter Oclaro expects revenue of between $144 and $152 million, representing a sequential decrease of 8.7% at the midpoint.

Friday, April 28, 2017

ADVA reports Q1 Sales of Euro 141.83m, up 16.3%

ADVA Optical Networking announced financial results for its 2017 first quarter ended on March 31, 2017, prepared in accordance with International Financial Reporting Standards (IFRS), as follows:

1.         Revenue for the first quarter of Euro 141.83 million, up 10.8% compared with Euro 128.03 million in the fourth quarter and up 16.3% from Euro 121.96 million in the first quarter of 2016.

2.         Gross profit for the first quarter of Euro 45.54 million, up 7.5% compared with Euro 42.35 million in the fourth quarter and up 14.1% from Euro 39.88 million in the first quarter of 2016.

3.         R&D expenditure for the first quarter of Euro 16.75 million, down 31.9% compared with Euro 24.63 million in the fourth quarter and down 0.9% from Euro 16.90 million in the first quarter of 2016.

4.         SG&A expenditure for the first quarter of Euro 24.49 million, up 6.6% compared with Euro 22.98 million in the fourth quarter and up 3.8% from Euro 23.54 million in the first quarter of 2016.

5.         Total operating expenditure for the first quarter of Euro 41.24 million, down 13.4% compared with Euro 47.61 million in the fourth quarter and up 2.0% from Euro 40.44 million in the first quarter of 2016.

6.         Net income for the first quarter of 2016 of Euro 6.18 million, compared with net income of Euro 13.63 million in the fourth quarter and a net loss of Euro 5.16 million in the first quarter of 2016.

7.         Cash and cash equivalents as of March 31, 2017 of Euro 69.71 million, versus Euro 84.87 million as at December 31, 2016.

Additional results and notes

Reported by region for the first quarter of 2017, ADVA reported that 50.2% of total revenue derived from EMEA, vesus52.6% a year earlier, 44.3% from the Americas, versus 42.1% a year earlier, and 5.5% from Asia Pacific, versus 5.3% in the prior year first quarter.

ADVA recorded a cash flow from operating activities in the fourth quarter of 2016 of Euro 5.6 million, compared with Euro 2.0 million in the 2016 first quarter.

Total employees at the end of the fourth quarter stood at 1,783, compared with 1,764  at the end of December 2016.

Outlook

For the second quarter of 2017, ADVA expects revenue between Euro 143 and 153 million, representing a sequential increase of 4.4% at the midpoint.

Thursday, April 27, 2017

AWS Racks Up Q1 Sales of $3.661 Billion, up 43%

Amazon Web Services (AWS) delivered Q1 2017 sales of $3.661 billion, up 43% year over year. Quarterly operating income was $890 million, up 48% year over year.

Some additional AWS highlights from the quarterly report:

  • AWS announced it will open an infrastructure region with three Availability Zones in Sweden in 2018. AWS currently operates 42 Availability Zones across 16 infrastructure regions worldwide, with another five Availability Zones across two AWS Regions in France and China expected to come online this year.
  • Recent AWS enterprise customer highlights include: Live Nation, the world’s leading live entertainment and ticketing company, announced it is going “all-in” on AWS; Dunkin’ Brands Group, Inc., the parent company of Dunkin’ Donuts and Baskin-Robbins, migrated their business-critical mobile applications, e-commerce websites, and key corporate IT infrastructure applications to AWS; HERE Technologies, a leading global provider of maps and location services, disclosed that AWS is its preferred cloud infrastructure provider and continues to expand its use of AWS to power its new Open Location Platform services; Liberty Mutual announced it is using AWS to speed implementation of a new state-of-the-art business platform to quickly bring new products and capabilities to their customers and operations; and Snap, Inc. expanded their use of AWS and announced a new, enterprise agreement to use $1 billion of AWS services over the next five years.
  • AWS announced that customers have migrated more than 23,000 databases using the AWS Database Migration Service since it became generally available in 2016.


http://phx.corporate-ir.net/phoenix.zhtml?c=97664&p=irol-presentations

CoreSite's Q1 Revenues up 24% YoY

CoreSite Realty reported first-quarter total operating revenues of $114.9 million, representing a 24.3% increase year over year. CoreSite reported net income attributable to common shares of $16.3 million, or $0.48 per diluted share, for the three months ended March 31, 2017, compared to $11.3 million, or $0.37 per diluted share for the three months ended March 31, 2016, an increase of 29.7% on a per-share basis.

During the quarter, Coresite executed 128 new and expansion data center leases comprising 46,484 net rentable square feet (NRSF), representing $9.7 million of annualized GAAP rent at an average rate of $209 per square foot.

We continued our momentum from Q4 and started the year strongly in the first quarter. Importantly, we continued to execute on our business objectives while increasing efficiency and effectiveness across our organization,” said Paul Szurek, CoreSite’s Chief Executive Officer. “We are pleased to see sustained solid leasing activity, with new and expansion sales of nearly $10 million in the first quarter well distributed across each of our key verticals of network providers, cloud-service providers and enterprises.

http://www.coresite.com

A10 Posts Solid Quarter, Revenue up 12%

A10 Networks reported Q1 2017 revenue of $60.3 million, up 12 percent year-over-year. GAAP net loss was $3.9 million or $0.06 per share.

“The first quarter was a solid start to the year with revenue growth driven by our security and cloud-focused solutions gaining momentum among cloud provider, service provider and web-scale customers,” said Lee Chen, president and chief executive officer of A10 Networks. “We believe the cloud presents a long-term growth opportunity for A10, and we are focused on bringing new solutions to market that give customers the visibility, agility, flexibility and security they need for their cloud deployments.”

http://www.a10networks.com

Wednesday, April 26, 2017

Nokia Reports Flat Q1 Revenue of EUR 5.4 Billion

Nokia reported Q1 2017 sales of EUR 5.4bn, down slightly from EUR 5.5bn in Q1 2016. Non-IFRS diluted EPS in Q1 2017 was EUR 0.03 (EUR 0.03 in Q1 2016). Reported diluted EPS in Q1 2017 of negative EUR 0.08 (negative EUR 0.11 in Q1 2016).

For Nokia's Networks business there was a 6% year-on-year net sales decrease in Q1 2017, which the company attributed primarily due to IP/Optical Networks and Fixed Networks, with approximately flat net sales in Mobile Networks and Applications & Analytics. The company noted strong Q1 2017 gross margin of 39.5% and solid operating margin of 6.6%, supported by continued focus on operational excellence, with particularly strong performance in Mobile Networks.

Nokia Technologies recorded a 25% year-on-year net sales increase in Q1 2017, primarily due to higher patent and brand licensing income and the acquisition of Withings, partially offset by the absence of licensing income related to certain expired agreements.

"Nokia's first quarter 2017 results demonstrated our improving business momentum, even if some challenges remain. We slowed the rate of topline decline and generated healthy orders in what is typically a seasonally weak quarter for us. We also continued to see expansion of cross-selling across our full portfolio, delivered excellent gross margins and improved group-level profitability," stated Rajeev Suri, Nokia's President and CEO.

"The power of our end-to-end portfolio was again evident in our first quarter results. We saw encouraging stabilization in Mobile Networks topline, our strategy to build a strong software business gained momentum in Applications & Analytics, and Nokia Technologies saw significant year-on-year improvement in sales. This progress offset relative weakness in Fixed Networks and IP/Optical Networks, and allowed us to maintain Networks' strong gross margin - which was among the strongest Networks has ever delivered for a Q1."

"Mobile Networks was clearly the highlight of the quarter. A combination of robust market interest in our advanced LTE solutions, including closing the quarter with 145 4.5G customers, and ongoing cost discipline allowed us to get closer to stabilizing our topline while delivering improved profitability."

See also