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

Monday, June 29, 2020

Xilinx raises its revenue guidance

Xilinx raised the range of its prior guidance for its first quarter of fiscal 2021 ended June 27, 2020. The new expectations are as follows:

“While we have seen some COVID-19 related impacts during the June quarter, our business has generally performed well overall, with stronger than expected revenues in our Wired and Wireless Group and Data Center Group more than offsetting weaker than expected revenues in our consumer-oriented end markets, including automotive, broadcast, and consumer. A portion of the revenue strength in the quarter was due to customers accelerating orders following recent changes to the U.S. government restrictions on sales of certain of our products to international customers,” said Victor Peng, Xilinx’s President and Chief Executive Officer.

“Given our preliminary assessment of the expected financial results in the June quarter, we are raising the midpoint for revenue and narrowing our overall guidance ranges. Furthermore, we are updating our expected tax rate for the June quarter to include the prior and current year potential impacts of the Altera Corp. v. Commissioner tax case, a third-party legal proceeding concerning related-party R&D cost sharing arrangements and stock-based compensation. The potential impact for prior years is approximately $57 million while the impact to the fiscal 2021 expected tax rate is an additional 1%-2%.”

Wednesday, June 24, 2020

AT&T pays down $5.3 billion in debt ahead of schedule

AT&T announced early repayment of six series of bonds totaling approximately $4.3 billion and prepayment of term loans totaling $1.0 billion. The total principal of these prepayments is approximately $5.3 billion.

AT&T said its goal is to continue improving its credit quality even as it remains committed to paying a dividend to its shareholders and investing in its growth areas — fiber, 5G and HBO Max. For full-year 2020, AT&T expects its dividend payout of free cash flow ratio will be in the 60% range. This gives the company the flexibility to continue to reduce its debt levels during 2020.

Wednesday, June 10, 2020

SiTime files for follow-on Public Offering

SiTime Corporation, which specializes in MEMS timing, has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission related to a proposed follow-on public offering of 3,500,000 shares of its common stock, including 2,500,000 shares of common stock to be sold by MegaChips Corporation and 1,000,000 shares to be issued and sold by SiTime. In addition, SiTime intends to grant the underwriters a 30-day option to purchase up to 525,000 additional shares of common stock from SiTime. SiTime will not receive any proceeds from the sale of shares of common stock by MegaChips Corporation. Net proceeds to SiTime are expected to be used for repayment of debt and general corporate purposes.

Thursday, June 4, 2020

Ciena posts Q2 sales of $894 million, up 3.4%

Ciena reported revenue of $894.1 million for its fiscal second quarter ended May 2, 2020, up 3.4% YoY. Ciena's GAAP net income for the fiscal second quarter 2020 was $91.7 million, or $0.59 per diluted common share, which compares to a GAAP net income of $52.7 million, or $0.33 per diluted common share, for the fiscal second quarter 2019.

"In this uncertain environment, we delivered industry leading financial performance during our second quarter, including strong revenue and outstanding profitability," said Gary Smith, President and CEO, Ciena. "Our strategy, centered around innovation, diversification and global scale, has resulted in a resilient business capable of navigating challenging times and delivering strong shareholder value over the long-term."

One 10%-plus customer represented a total of 12% of revenue
Cash and investments totaled $988.5 million
Cash flow from operations totaled $91.2 million
Average days' sales outstanding (DSOs) were 79




Thursday, May 28, 2020

VMware sales rise 12% YoY as subscription and SaaS revenue grows

VMware reported quarterly revenue of $2.73 billion, an increase of 12% from the first quarter of fiscal 2020. GAAP net income for the first quarter was $386 million, or $0.92 per diluted share, compared to $380 million, or $0.89 per diluted share, for the first quarter of fiscal 2020.  Non-GAAP net income for the first quarter was $640 million, or $1.52 per diluted share, up 21% per diluted share compared to $535 million, or $1.25 per diluted share, for the first quarter of fiscal 2020.



Highlights:

  • The combination of subscription and SaaS and license revenue was $1.23 billion, an increase of 17% from the first quarter of fiscal 2020.
  • Subscription and SaaS revenue for the first quarter was $572 million, an increase of 39% year-over-year.
  • VMware launched VMware Tanzu, a portfolio of products and services that enable enterprises to deliver better software faster. 
  • VMware acquired Octarine, which will bring intrinsic security to containerized applications running in Kubernetes and build security capabilities into the fabric of the existing IT and DevOps ecosystems.
  • VMware made major updates to its core portfolio across VMware Cloud Foundation, the largest evolution of vSphere in a decade, NSX-T, vSAN and vRealize Operations Cloud, continuing to bring innovation to its leading infrastructure stack that powers on-premises environments and public clouds across the world.
  • VMware introduced new security offerings, including new VMware Advanced Security for Cloud Foundation, which will enable customers to replace legacy security solutions and deliver unified protection across private and public clouds.
  • Deutsche Telekom and VMware announced that they are collaborating on an open and intelligent virtual RAN platform, based on O-RAN standards, to bring agility to radio access networks (RANs) for both existing LTE and future 5G networks.
  • VMware launched VMware Partner Connect, the new, simplified and flexible program that empowers partners with flexibility to meet customers’ needs, making VMware technologies and services opportunities more accessible.


“In these unprecedented times, we delivered solid performance and strong execution in Q1 FY21,” said Pat Gelsinger, VMware CEO.

https://ir.vmware.com/download/companies/vmware/Presentations/Q1-21%20Earnings%20Slides.pdf


Wednesday, May 27, 2020

Nutanix posts quarterly sales of $318 million, up 11%

Nutanix reported revenue of $318.3 million for its third quarter of fiscal 2020, ended April 30, 2020, up 11% year-over-year from $287.6 million in the third quarter of fiscal 2019. GAAP gross margin was 77.3%, up from 73.9% in the third quarter of fiscal 2019. GAAP net loss was $240.7 million, compared to a GAAP net loss of $209.8 million in the third quarter of fiscal 2019; non-GAAP net loss was $135.2 million, compared to a non-GAAP net loss of $103.0 million in the third quarter of fiscal 2019.

“We are pleased to have delivered a solid quarter, particularly in light of the global uncertainty caused by the COVID-19 pandemic,” said Dheeraj Pandey, Chairman, Co-Founder and CEO of Nutanix. “We are delighted to be in a position to support our customers with mission-critical solutions as they navigate the rapidly changing landscape of the future of work. Our near-term focus is on thoughtful cash and expense management, while proactively preparing to emerge from this time with the ability to drive long-term growth and scale our business with the market.”

“By adapting quickly to a changing work environment, we were able to meet or exceed our anticipated third quarter results despite the challenging macroeconomic conditions,” said Duston Williams, CFO of Nutanix. “We have also taken proactive measures to manage our operating expenses, which will help meaningfully decrease our cash usage from here and enhance our financial flexibility going forward. While the duration and impact of the pandemic remain uncertain, we are confident that Nutanix is well-positioned to manage the business through this period and will emerge a stronger company with the help of our subscription transition.”

Some highlights:
  • Billings: $383.5 million, up 11% year-over-year from $346.0 million in the third quarter of fiscal 20191
  • Software and Support (TCV)2 Revenue: $314.5 million, up 18% year-over-year from $265.8 million in the third quarter of fiscal 2019
  • Software and Support (TCV)2 Billings: $379.7 million, up 17% year-over-year from $324.2 million in the third quarter of fiscal 2019
  • Nutanix continued its transition to a subscription-based business model, with subscription billings up 43% year-over-year to $321 million, representing 84% of total billings, and subscription revenue up 55% year-over-year to $261 million, representing 82% of total revenue.
  • Nutanix ended the third quarter of fiscal 2020 with 16,580 end-customers