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

Thursday, December 7, 2017

Ciena posts quarterly revenue of $744 million, tax benefit of $1.13 billion

Ciena reported revenue of $744.4 million for its fourth quarter of fiscal 2017, ended 31-October-2017, as compared to $716.2 million for the fiscal fourth quarter 2016. For fiscal year 2017, Ciena reported revenue of $2.80 billion, as compared to $2.60 billion for fiscal year 2016.

Ciena's fiscal fourth quarter and fiscal year 2017 results reflect a tax benefit of $1.13 billion related to the reversal of a deferred tax asset valuation allowance. As a result, GAAP net income for Q4 was $1.16 billion, or $7.32 per diluted common share, which compares to a GAAP net income of $36.6 million, or $0.25 per diluted common share, for Q4 2016.

For fiscal year 2017, Ciena had a GAAP net income of $1.26 billion, or $7.53 per diluted common share, which compares to a GAAP net income of $72.6 million or $0.51 per diluted common share for fiscal year 2016.

Revenue by Geography
North America   $440.5
EMEA                $110.7
CALA                 $43.5
APAC                 $149.7

Separately, Ciena's Board of Directors authorized a program to repurchase up to $300 million of the company’s common stock through the end of fiscal 2020.


Monday, November 27, 2017

Aquantia posts Q3 revenue of $26.7 million, up 19% yoy

Aquantia reported Q3 revenue of $26.7 million, an increase of 6.2 percent compared to $25.2 million in the prior quarter, and an increase of 18.6 percent compared to $22.5 million in the third quarter 2016. Total revenue by market for the third quarter 2017 consisted of Data Center revenue of $14.9 million, Enterprise Infrastructure revenue of $10.8 million, Access revenue of $0.9 million, and Automotive revenue of $0.1 million.

Gross profit for the third quarter 2017 was $15.1 million, or 56.5 percent of revenue, compared to $14.3 million, or 56.6 percent of revenue, in the prior quarter, and $13.4 million, or 59.5 percent of revenue, in the third quarter 2016.

Third quarter 2017 net loss was $1.0 million, or $0.21 per basic share, compared to second quarter 2017 net loss of $1.3 million, or $0.29 per basic share, and third quarter 2016 net income of $88,000, or $0.00 per diluted share.

“We are very pleased to have completed our initial public offering on November 3rd, raising more than $65 million for the company,” said Faraj Aalaei, Chairman and CEO of Aquantia. “In the third quarter, we delivered record quarterly revenue. We believe this is a testament to our products and that Aquantia’s leadership in ICs for Multi-Gig Ethernet connectivity in multiple markets gives our customers confidence to build their networks on our technology.”

Thursday, November 2, 2017

Arista's Q3 revenue rockets 51% to $437.6 million

Arista Networks reported Q3 revenue of $437.6 million, an increase of 8.0% compared to the second quarter of 2017, and an increase of 50.8% from the third quarter of 2016. GAAP gross margin was 64.1%, compared to GAAP gross margin of 64.1% in the second quarter of 2017 and 64.2% in the third quarter of 2016.GAAP net income was $133.7 million, or $1.68 per diluted share, compared to GAAP net income of $51.3 million, or $0.69 per diluted share, in the third quarter of 2016.

"I am proud of our record results and profits in Q3 2017,” stated Jayshree Ullal, Arista President and CEO. “Our performance validates our meaningful traction with customers as they evolve from legacy to universal cloud networking designs.”


Sierra Wireless' revenue rises 13% yoy as IoT gains traction

Sierra Wireless reported Q3 revenue of $173.2 million, an increase of 12.8% compared to $153.6 million in the third quarter of 2016. Gross margin was $57.8 million, or 33.3% of revenue, in the third quarter of 2017, compared to $49.4 million, or 32.1% of revenue, in the third quarter of 2016. Operating expenses were $57.5 million and earnings from operations were $0.2 million in the third quarter of 2017, compared to operating expenses of $49.4 million and a loss from operations of $0.1 million in the third quarter of 2016. Net earnings were $1.2 million, or $0.04 per diluted share, in the third quarter of 2017, compared to a net loss of $1.8 million, or $0.06 diluted per share, in the third quarter of 2016.

  • Revenue from OEM Solutions was $138.5 million in the third quarter of 2017, up 8.4% compared to $127.8 million in the third quarter of 2016. 
  • Revenue from Enterprise Solutions was $26.3 million in the third quarter of 2017, up 38.8% compared to $18.9 million in the third quarter of 2016. 
  • Revenue from Cloud and Connectivity Services was $8.4 million in the third quarter of 2017, up 23.0% compared to $6.9 million in the third quarter of 2016.

In August 2017, Sierra Wireless agreed to acquire Numerex in a stock-for-stock merger transaction to expand its position as a leading global IoT pure-play.

Wednesday, November 1, 2017

Equinix cites wins from Alibaba, Baidu, Blade, Charter, Netflix

Equinix reported quarterly revenue $1,152 million, up 25% year over year (10% yoy on a normalized and constant currency basis), and up 8% over the previous quarter. The figure includes $137 million of revenues from the acquisition of 29 Verizon data centers. Net income was $80 million.

Some highlights:

  • Record number of new wins across every vertical in Q3, 
  • 10 new Fortune 500 wins from the enterprise and financial services verticals
  • The network vertical achieved record bookings with expansions from Charter Communications, and with continued momentum within the subsea space from Seaborn Networks and Aqua Comms.
  • Interconnection revenues in Q3 grew 31% yoy and 17% year-over-year on a normalized and constant currency basis, significantly outpacing colocation revenues and reflecting the movement towards Interconnection Oriented Architecture.
  • Cross-connects between customers increased to more than 248,000, and the Equinix Cloud Exchange platform now serves more than 950 customers.
  • Key customer wins and expansions included Alibaba.com, Baidu, Blade, Charter Communications, Netflix, Priceline.com, Oracle, Salesforce.com, SAP, Tencent and Walmart

Oclaro posts rising revenue - 100G now 81% of sales

Oclaro reported revenues of $155.6 million for the first quarter of its fiscal 2018, compared with revenues of $149.4 million in the preceding quarter , and revenues of $135.5 million for the period a year earlier.

GAAP gross margin was 40.3% for the first quarter of fiscal 2018. GAAP operating income was $31.2 million for the first quarter of fiscal 2018. This compares with GAAP operating income of $29.9 million in the fourth quarter of fiscal 2017, and GAAP operating income of $17.9 million in the first quarter of fiscal 2017.

"The Oclaro team once again produced strong quarterly results, fueled by our CFP2-ACO and QSFP product lines.  We generated sequential revenue growth and strong profitability," said Greg Dougherty, Chief Executive Officer, Oclaro. "Our near-term visibility includes continued softness in China, compounded by a recent slowdown in data center sales.  Despite our reduced outlook, we expect to remain solidly profitable for the December quarter, which would serve as a further testament to our strong financial model."



Inphi sees boost from DCI and DSP segments

Citing an increase in demand for its "COLORZ" inter-data center solutions and coherent DSP products from its ClariPhy acquisition, Inphi reported Q3 revenue of $84.5 million (GAAP), up 19% year-over-year, compared with $70.7 million in the third quarter of 2016.

Gross margin from continuing operations under GAAP was 49.8%, compared with 68.1% in the third quarter of 2016. The decrease in gross margin was primarily due to a Q3 impairment charge of acquired intangibles. GAAP operating loss from continuing operations in the third quarter of 2017 was $52.5 million or (62.1%) of revenue from continuing operations, compared to GAAP income from continuing operations in the third quarter of 2016 of $10.2 million or 14.5% of revenue from continuing operations.

“Q3 was a solid quarter of execution for Inphi, in a market still waiting for a rebound in China long haul and metro,” said President and CEO Ford Tamer. “Once again, we had strong growth in the data center market from COLORZ, and we continue to introduce new PAM-based products, like Vega and Polaris that will lead to continued growth in the data center market in 2018 and beyond.”

Monday, October 30, 2017

Orange sees another quarter of growth in France

Citing its second consecutive quarter of growth in France, Orange reported Q3 revenue of 10.274 billion euros, up 0.9% on a comparable basis compared to last year and in line with the first half (+1.1%). Adjusted EBITDA for the Group grew 2.1% in the third quarter of 2017 on a comparable basis, in line with the first half (+2.2%).

Stéphane Richard, Chairman and CEO of the Orange Group, commented: “This quarter demonstrates very good momentum at Orange, supported more than ever by investment in customer experience and our networks. We attracted nearly half a million mobile contract customers and 321,000 fibre customers in France and the Europe segment in the past three months. Despite new roaming regulation in Europe, we delivered revenue growth for the ninth consecutive quarter and adjusted EBITDA growth of 2.1%. Excluding regulatory changes, adjusted EBITDA rose 4.4%. "

Highlights for Q3 2017:

  • Orange France had a particularly strong third quarter in mobile, with 320,000 net additions – its best performance since 2008. 
  • Orange France is continuing to grow in fibre broadband and now reaches more than 1.8 million customers. 
  • Interconnection revenue with operators in other European countries (visitor roaming) grew but was offset by the end of roaming charges for customers traveling in Europe. 
  • Orange Europe continued to record sustained growth, driven by Spain and Central European countries. 
  • Revenue in the Africa & Middle East segment confirmed a return to solid growth, 
  • Revenue in the Enterprise segment fell 0.5% on a comparable basis. In the first nine months of 2017, revenues were 30.550 billion euros, up 1.0% (+317 million euros) on a comparable basis.
  • The Group’s capital expenditure for the first nine months of the year was 4.873 billion euros, in line with the 2017 forecast of 7.2 billion euros. 
  • CAPEX increased by 2.8% compared to the first nine months of 2016 on a comparable basis. 
  • CAPEX from telecom activities (4.836 billion euros) rose 2.0% and the ratio of CAPEX from telecom activities to revenues was 15.8%. 
  • Investments in fibre and in very high-speed mobile (4G and 4G+) rose 14.2% compared with the first nine months of 2016.

Thursday, October 26, 2017

AWS continues 42% yoy growth pace

Amazon Web Services continues to grow at a 42% year-over-year pace.

In its Q3 2017 financial report, Amazon disclosed that AWS sales for Q3 2017 amounted to $4.584 billion.

During the quarter, AWS launched per-second billing in all regions for Linux-based EC2 instances, Elastic Graphical Processing Units (GPU), Elastic Block Store (EBS) Volumes, AWS Batch, and Elastic Map Reduce (EMR). Customers using these services will now be billed in one-second (versus one-hour) increments. AWS also introduced a free service that provides a single location for customers to track the status of migrations across their application portfolio. The company also revealed plans for a new infrastructure region in the Middle East in 2019. Currently, AWS provides 44 Availability Zones across 16 infrastructure regions worldwide, with another 14 Availability Zones across five AWS Regions in China, France, Hong Kong, Sweden, and a second GovCloud Region in the U.S. expected to come online by the end of 2018.


Nokia posts Q3 sales of EUR 5.5b, a 7% slide yoy

Driven by strength in its patent licensing business and improve efficiency in its Networks division, but offset by some challenges in its Mobile Networks business, Nokia reported Q3 2017 net sales of EUR 5.5 billion, a 7% year-on-year decrease (4% decrease on a constant currency basis) compared to a year earlier.

Gross margin for Q3 was 42.7% (40.0% in Q3 2016), and non-IFRS operating margin ws 12.1% (9.3% in Q3 2016), driven by Nokia Technologies and resilience in Nokia's Networks business.

Nokia's Networks business

  • 9% year-on-year net sales decrease (6% decrease on a constant currency basis) in Q3 2017, primarily due to Ultra Broadband Networks, reflecting challenges related to market conditions and certain projects in Mobile Networks, primarily in North America and Greater China.
  • In Q3 2017, on a constant currency basis, the year-on-year net sales performance in IP Networks and Applications and Global Services improved, when compared to the year-on-year performance in Q2 2017. On a constant currency basis, year-on-year net sales grew by 2% in both Global Services and IP Routing.
  • Gross margin was 38.6% supported by continued operational discipline. Operating margin of 6.9% reflected weak results in Ultra Broadband Networks, which was partially offset by improved year-on-year performance in Global Services and IP Networks and Applications.

Nokia Technologies

  • 37% year-on-year net sales increase and 73% year-on-year operating profit increase in Q3 2017, primarily related to a settled arbitration in the third quarter 2017. 
  • Approximately EUR 180 million of the net sales were non-recurring in nature and related to catch-up net sales for prior periods. 
  • approximately doubled recurring license revenue from EUR 578 million in 2014.


Rajeev Suri, Nokia's President and CEO, stated: "Despite the progress we made in the quarter, we experienced some challenges in our Mobile Networks business and see a continued decline in our primary addressable market in 2018. That decline, which we estimate to be in the range of 2% to 5%, is the result of the multiple technology transitions underway; robust competition in China; and near-term headwinds from potential operator consolidation in a handful of countries."

Intel sees record revenue for data center, IoT and memory

Intel reported Q3 revenue og $16.1 billion and record operating income and record earnings per share (EPS), driven by strong data-centric growth, expanding operating margins and gains on the sale of equity investments. The company cited record revenues for its data center, Internet of Things and memory businesses. Gross margin for Q3 was 62.3%, down from 63.3% a year earlier.

"We executed well in the third quarter with strong results across the business, and we’re on track to a record year,”said Brian Krzanich, Intel CEO. “I’m excited about our progress and our future. Intel’s product line-up is the strongest it has ever been with more innovation on the way for artificial intelligence, autonomous driving and more.”

For its Data Center Group, sales to Cloud/Communication Service Provides now accounts for 60% of revenue, up from 35% in 2013.



ADVA's Q3 revenues decline to EUR 111.2 Mill

Citing a drop in revenues from two major customers during the acquisition process of MRV Communications, ADVA Optical Networking reported a drop in revenues in Q3 2017 to EUR 111.2 million, down from EUR 144.2 in Q2 2017, and down 30.3% year-on-year (YoY) (Q3 2016: EUR 159.5 million). The figure was within the adjusted guidance announced on August 28, 2017.

Pro forma operating income in Q3 2017 stood at EUR -0.8 million or -0.7% of revenues, down from EUR 9.2 million or 6.4% of revenues in Q2 2017. This number is also within the adjusted guidance.

ADVA recorded one-time restructuring costs of EUR 8.4 million due to the integration of MRV and the related restructuring measures, as well as the consolidation of the product portfolios.

Regional revenues during Q3
Americas - 60%
EMEA - 33%
Asia-Pacific - 7%

"Q3, 2017 was one of the most challenging quarters in our company's history," commented Brian Protiva, CEO of ADVA Optical Networking. "We had to lower our guidance within a financial quarterly period for the first time since Q2, 2008. Nevertheless, the integration of MRV Communications is progressing very well. We have implemented much of the planned restructuring measures, updated our roadmaps and aligned our product portfolios, development teams and sales focus. All this provides us with a solid basis for a return to growth and profitability in 2018."

Wednesday, October 25, 2017

F5 posts sales of $538m, rising services revenue

F5 Networks posted revenue of $538.0 million for its fourth quarter of fiscal 2017, up 2.4% from $525.3 million in the fourth quarter of fiscal 2016. For fiscal year 2017, revenue was $2.1 billion, up 4.8% from $2.0 billion last year. GAAP net income for the fourth quarter of fiscal 2017 was $135.7 million, or $2.14 per diluted share, compared to $108.9 million, or $1.64 per diluted share in the fourth quarter of fiscal 2016

“We finished fiscal 2017 on a solid note, delivering record fourth quarter and annual revenue and earnings,” said François Locoh-Donou, F5 President and Chief Executive Officer. “We are excited by the meaningful role we are playing in helping customers solve the complexity of deploying applications across on-premise and multi-cloud environments.


Friday, October 20, 2017

Ericsson's Q3 sales declined 6% yoy

Amid what it describes as generally "tough" market conditions, Ericsson reported Q3 2017 net sales of SEK 47.8 billion, down 6% year-over-year on a reported basis and down 3% when adjusted for comparable units and currency.

Gross margin was 25.4%, a decline from 28.3% a year earlier. There was an operating loss of SEK -4.8 billion, also a decline from a year earlier.

Börje Ekholm, President and CEO of Ericsson, stated: "The general market conditions continue to be tough. Sales adjusted for comparable units and currency declined by -3% YoY. Sales in North America, adjusted for comparable units, currency and the rescoped managed services contract were stable. We also saw growth returning in several countries as operators are increasing their investments in network capacity. Sales in Mainland China declined as the market is normalizing following a period of significant 4G deployments, representing more than 60% of global 4G volumes in the industry. We have managed to increase our LTE market shares in Mainland China to position Ericsson in 5G. However, this will have a dilutive effect on gross margin in Mainland China in Q4 2017, but the ambition is to continue to deliver double-digit adjusted operating margin in Networks in Q4 2017."

Some notable items from the quarterly report:

Restructuring charges in the quarter were SEK -2.8 b. including a write-down of SEK -1.6 b. related to one of a global ICT center.

Networks sales declined by -4% YoY. Sales adjusted for comparable units, currency and the rescoped managed services contract in North America, increased slightly.

During Q3, there was a net reduction of 3,000 employees despite 1,100 new recruitments in R&D.

One area of strength is the Ericsson Radio System portfolio, which accounts for 55% of total radio volumes year to date.

In IT & Cloud, sales declined and losses increased, but the company describes the business as strategically important as carriers prepare for 5G.

Ericsson continues to hold SEK 24 billion in cash, providing a stable foundation for the company.

Thursday, October 19, 2017

ZTE's 9-month revenues rise 7% YoY

ZTE Corporation's revenue in the first nine months of 2017 increased to RMB 76.580 billion (US$11.57 billion), 7.01% higher than last year.

ZTE published guidance calling for a 36.58% increase in net profit for the nine months ended 30 September 2017. Net profit attributable to holders of ordinary shares of the listed company in the first nine months was RMB 3.905 billion, based on the preliminary figures.


Tuesday, October 17, 2017

IBM sees growth in cloud and as-a-service categories

IBM reported Q3 2017 revenue of $19.2 billion, flat compared to a year ago and down 1% yoy when accounting for currency.

In the third quarter, the company generated net cash from operating activities of $3.6 billion, or $3.3 billion excluding Global Financing receivables. IBM’s free cash flow was $2.5 billion. IBM returned $1.4 billion in dividends and $0.9 billion of gross share repurchases to shareholders.

"In the third quarter we achieved double-digit growth in our strategic imperatives, extended our enterprise cloud leadership, and expanded our cognitive solutions business," said Ginni Rometty, IBM chairman, president and chief executive officer. "There was enthusiastic adoption of IBM's new z Systems mainframe, which delivers breakthrough security capabilities to our clients."

Some highlights:

  • Q3 cloud revenues increased 20 percent to $4.1 billion. 
  • Cloud revenue over the last 12 months was $15.8 billion, including $8.8 billion delivered as-a-service and $7.0 billion for hardware, software and services.
  • The annual exit run rate for as-a-service revenue increased to $9.4 billion from $7.5 billion in the third quarter of 2016. 
  • Q3 revenues from analytics increased 5 percent. 
  • Q3evenues from mobile increased 7 percent
  • Q3 revenues from security increased 51 percent (up 49 percent adjusting for currency).
  • IBM continues to make capital investments in cloud and cognitive capabilities.

Thursday, September 28, 2017

A10 expects bump up in Q3 revenue

A10 Networks increased its financial outlook for Q3 2017, saying it now expects revenue to be between $59 million and $60 million, above its prior guidance of $53 million to $57 million. The company also expects to report a profit on a non-GAAP basis.

A10 Networks also announced the departure of Ray Smets, EVP of worldwide sales, effective in the fourth quarter.

Friday, September 1, 2017

Bouygues Telecom grows revenue, subscriber count

Bouygues Telecom reported sales of €2,434 million in the first half of 2017, 6% more than in the first half of 2016. Sales from network also rose 6% to €2,084 million and sales from network excluding incoming traffic rose 7% over the period. The increase in data usage resulting from the decline in voice and text usage is leading to a decrease in sales from network generated by incoming traffic. However, there is no impact on EBITDA, since this decline in sales is offset by reduced interconnection costs.

EBITDA was up €139 million versus the first half of 2016 to €547 million. The EBITDA margin rose by 5.5 points year-on-year to 26.2%. Operating profit was €215 million higher at €210 million. It included non-current income of €48 million, mainly related to the capital gain on the sale of towers to Cellnex, which more than offset non-current charges related to the roll-out of network sharing.

Some highlights:

  • In the first half of 2017, gross capex stood at €585 million, in line with the 2017 full-year gross capex target of €1.2 billion. 
  • Bouygues Telecom added 645,000 mobile customers in the first half of 2017, resulting in a total base of 13.6 million customers at end-June 2017. 
  • There were over 10 million mobile plan customers excluding MtoM at end-June 2017, with 240,000 new adds in the first half of 2017, of which 110,000 in the second quarter. 
  • In the fixed market, Bouygues Telecom signed up 133,000 new customers in the first half of 2017, of which 45,000 in the second quarter. 
  • Bouygues Telecom confirms its target of 1 million additional fixed customers by end-2017 versus end-2014. The Miami FTTH offer accounted for close to two-thirds of net growth in the second quarter of 2017. As a result, Bouygues Telecom had 171,000 FTTH customers at end-June 2017, more than twice as many as at end-June 2016. 
  • Bouygues Telecom is continuing to roll out FTTH, with 16 million premises secured at end-June 2017, 7 million more than at end-2016, and 2.6 million premises marketed, 0.6 million more than at end-2016. Bouygues Telecom confirms its target of 12 million premises marketed in 2019 and 20 million in 2022. In all, Bouygues Telecom had 552,000 very-high-speed customers at end-June 2017. 
http://www.bouygues.com/wp-content/uploads/2017/08/press-release.pdf

Thursday, August 31, 2017

Ciena posts quarterly revenue of $729m, up 8.7% yoy

Ciena reported revenue of $728.7 million for its fiscal third quarter 2017, as compared to $670.6 million for the fiscal third quarter 2016. Net income (GAAP) amounted to $60.0 million, or $0.39 per diluted common share, which compares to a GAAP net income of $33.5 million, or $0.23 per diluted common share, for the fiscal third quarter 2016.

“We delivered another solid quarter with strong revenue growth and profitability, and we took additional market share through our diversification and innovation leadership,” said Gary B. Smith, president and CEO, Ciena. “Our continued success, combined with strong fundamental demand drivers that are playing in our favor, is drawing a clear division between the winners and losers in the marketplace.”

Ciena said its expects fiscal fourth quarter 2017 revenue to be in the range of $720 to $750 million.

Some highlights:

  • U.S. customers contributed 60.1% of total revenue
  • Two customers each accounted for greater than 10% of revenue and in aggregate represented 28% of total revenue
  • Cash and investments totaled $854.2 million
  • Cash flow from operations totaled $50.6 million
  • Headcount totaled 5,780




More online.

http://investor.ciena.com

Nutanix hits revenue of $226.1 million, up 62% year-over-year

Nutanix reported revenue of $226.1 million for its fourth quarter of fiscal year 2017,  62% year-over-year from $139.8 million in the fourth quarter of fiscal 2016. Billings rose to $289.2 million, growing 40% year-over-year from $206.6 million in the fourth quarter of fiscal 2016. There was a GAAP net loss of $90.7 million, compared to a GAAP net loss of $49.9 million in the fourth quarter of fiscal 2016. GAAP net loss per share was $0.59, compared to a pro forma GAAP net loss per share of $0.41 a year earlier.

"The fourth quarter was another record quarter and an outstanding conclusion to the fiscal year. Our newly announced products, Nutanix Calm and Xi Cloud Services, extend our market opportunity by simplifying and harmonizing datacenter operations for the multi-cloud era,” said Dheeraj Pandey, CEO, Nutanix. “This quarter, marked by record revenues, continued adoption of AHV, increased software-only sales, strong growth from our OEM partners, and positive operating cash flow, was a great way to end our first year as a public company.”

Some highlights:

Nutanix ended its Q4 with 7,051 end-customers, adding over 875 new end-customers during the quarter. Fourth quarter customer wins included ABC Stores, Amgen, Bacardi, HCA Healthcare, Konica Minolta Business Solutions Europe GmbH, The Hershey Company, The Home Depot, and Tokopedia.
Increased Number of $1 Million+ Deals: 43 customers with deals over $1 million in the quarter, up 39% YoY.
During the quarter, Nutanix introduced Nutanix Calm and Xi Cloud Services, along with a strategic alliance with Google to blend the Nutanix environment with the Google Cloud Platform, providing new functionality to address the challenges of the multi-cloud era.
Increased AHV Penetration: Saw a 75% YoY increase in adoption of AHV, Nutanix’s built-in hypervisor, based on a four-quarter rolling average of nodes using AHV.
http://ir.nutanix.com

See also