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

Thursday, September 2, 2021

Ciena reports sales of $988.1 million, up 1.2%

 Ciena reported revenue of $988.1 million for its fiscal third quarter ended July 31, 2021, up 1.2% compared to same period last year. Ciena's GAAP net income for the fiscal third quarter 2021 was $238.2 million, or $1.52 per diluted common share, which compares to a GAAP net income of $142.3 million, or $0.91 per diluted common share, for the fiscal third quarter 2020. Ciena's GAAP net income for the third quarter of 2021 benefited from the recording of a $124.2 million tax benefit related to an internal transfer of non-U.S. intangible assets.


“We delivered outstanding fiscal third quarter results that reflect continued momentum in our business as well as our differentiated position in the market,” said Gary Smith, president and CEO of Ciena. “These results combined with a robust demand environment give us confidence that we will deliver our expected strong second half performance.”

Some highlights for the quarter:

  • Non-telco represented 42% of total revenue, with direct web-scale increased 24% sequentially, representing 25% of total revenue
  • EMEA revenue increased 16% YoY, representing 19% of total revenue
  • Blue Planet revenue increased 47%YoY
  • added 11 customers for WaveLogic 5 Extreme, bringing the total count to 106 customers. 
  • the 400 ZR WaveLogic 5 Nano product is now generally available


https://investor.ciena.com/events-and-presentations/default.aspx

Broadcom posts sales of $6.7 billion, up 16%

Citing demand from hyperscale data centers and telecom operators, Broadcom reported quarterly revenue of $6.778 billion, up 16% from $5.821 billion for the same period last year. 


"Broadcom delivered record revenues in the third quarter reflecting our product and technology leadership across multiple secular growth markets in cloud, 5G infrastructure, broadband, and wireless," said Hock Tan, President and CEO of Broadcom Inc. "We are projecting the momentum to continue in the fourth quarter."

"Our business model continues to perform. Consolidated revenue grew 16% year-over-year to $6.8 billion and operating profit increased 24% with adjusted EBITDA margin a record 61%," said Kirsten Spears, CFO of Broadcom Inc. "We generated $3.4 billion in free cash flow or 51% of revenue in the quarter, and we expect free cash flow to remain strong in the fourth quarter."


Thursday, August 26, 2021

Analog Devices completes acquisition of Maxim

Analog Devices completed its previously announced acquisition of Maxim Integrated Products in an all-stock transaction that values the combined enterprise at over $68 billion. The deal was first announced on July 13th.

The combined company will have trailing twelve-month revenue of over $9 billion and free cash flow of over $3 billion on a pro forma basis.

“Today is a tremendous milestone for ADI and I’m delighted to welcome the Maxim team, who share our passion for solving our customers’ most complex technology problems,” said Vincent Roche, President and CEO. “With more than 10,000 engineers and the increased breadth and depth of our best-in-class technologies, we are well-positioned to develop even more complete, cutting-edge solutions for our customers. Together, we will drive the next waves of analog semiconductor innovation, while engineering a healthier, safer and more sustainable future for all.”




https://investor.analog.com/static-files/52340411-401f-4554-ad4e-a7b4299501b9

Wednesday, August 18, 2021

Cisco posts quarterly sales of $13.1 billion, up 8% yoy

Cisco reported revenue of $13.1 billion for Q4 of its fiscal 2021, up 8% year over year. Net income on a generally accepted accounting principles (GAAP) basis was $3.0 billion or $0.71 per share, and non-GAAP net income of $3.6 billion or $0.84 per share.

Total fiscal year revenue was $49.8 billion.

“We continue to see great momentum in our business as customers are looking to modernize their organizations for agility and resiliency,” said Chuck Robbins, chair and CEO of Cisco. “The demand for Cisco technology is strong with our Q4 performance marking the highest product order growth in over a decade. With the power of our portfolio, we are well positioned to help our customers accelerate their digital transformation and thrive in a hybrid world.

Some highlights for Q4

  • Product revenue was up 10% and service revenue up 3%. 
  • Enterprise orders up 25% y/y 
  • This marked the third consecutive quarter of acceleration in Commercial, Service Provider and Public Sector with all of these segments showing growth in excess of 20% y/y
  • Double-digit revenue growth y/y in Campus Switching, Catalyst 9000, High End Routing, Wireless and Zero Trust solutions along with strength in our security endpoint
  • Revenue by geographic segment was: Americas up 8%, EMEA up 6%, and APJC up 13%. 
  • Product revenue was led by growth in Infrastructure Platforms, up 13% and Security, up 1%. Applications was down 1%.
  • On a GAAP basis, total gross margin, product gross margin, and service gross margin were 63.6%, 62.7%, and 66.2%, respectively. 
  • Total gross margins by geographic segment were: 66.2% for the Americas, 65.0% for EMEA and 64.4% for APJC. 

https://s2.q4cdn.com/951347115/files/doc_financials/2021/q4/Q4FY21-Earnings-Slides.pdf

Thursday, August 12, 2021

VIAVI posts revenue of $310.9 million, up 16.6% yoy


VIAVI reported quarterly revenue of $310.9 million, up $44.3 million or 16.6% year-over-year. GAAP net loss was $(1.9) million, or $(0.01) per share. Non-GAAP net income was $52.8 million, or $0.22 per share.

"VIAVI had a strong finish to fiscal year 2021 with a record $1.20 billion in revenue and non-GAAP EPS at $0.83.  Fiscal Q4 posted record revenue and non-GAAP profitability for a June quarter as it exceeded the high end of the guidance range in revenue, non-GAAP operating margin and non-GAAP EPS," said Oleg Khaykin, VIAVI's President and Chief Executive Officer. "NSE's 13.5% year-on-year growth and record revenue was driven by the continued market rebound and strong demand for Fiber and Wireless products.  OSP revenue was in-line with our guidance, up 27.8% from a year ago levels reflecting continued strength in Anti-Counterfeiting."

Khaykin added, "We expect fiscal year 2022 to be a strong year for VIAVI with 5G deployment and Fiber network upgrades driving NSE revenues and OSP benefiting from the continued strong demand for Anti-Counterfeiting and 3D Sensing products. Overall, we expect fiscal year 2022 to achieve higher levels of revenue and non-GAAP profitability."

Thursday, August 5, 2021

Cloudflare hits Q2 revenue of $152 million, up 53% yoy

Cloudflare reported Q2 revenue of $152.4 million, representing an increase of 53% year-over-year. Non-GAAP net loss was $7.3 million, compared to $9.6 million in the second quarter of 2020. GAAP net loss per share was $0.12, compared to $0.09 in the second quarter of 2020. Non-GAAP net loss per share was $0.02, compared to $0.03 in the second quarter of 2020.


“We had our strongest quarter ever as a public company, and our revenue growth continued to accelerate, growing 53% year-over-year. We also added a record number of large customers, signing the equivalent of more than two six-figure customers every single business day in Q2.” said Matthew Prince, co-founder & CEO of Cloudflare. “Whether we’re offering Zero Trust security solutions to the world’s most sophisticated organizations, or enabling the next billion dollar business with Cloudflare Workers, we remain focused on delivering secure, programmable network solutions that our customers rely on.”

Sunday, August 1, 2021

Nokia's Q2 net sales up 4% yoy, growth across all business groups

Nokia announced Q2 net sales of EUR 5.313 billion up 4% yoy on a reported basis and up 9% yoy on a constant currency basis, driven by growth across all business groups, with particular strength in Network Infrastructure. Q2 comparable diluted EPS was EUR 0.09 and reported diluted EPS was EUR 0.06.

Based on the strong performance, Nokia increased upwards its full-year outlook. The company now expects a comparable operating margin between 10-12% for full-year 2021, compared to the previous range of 7-10%. 

Pekka LUNDMARK, President and CEO of Nokia, states:

"I am delighted that our strong start to 2021 continued in the second quarter. Our constant currency sales growth of 9%, combined with good cost control, enabled us to deliver a comparable operating margin of 12.8%. Even excluding a one-time software deal in Mobile Networks, we saw good underlying progress in operating margin. We are already seeing the benefits of our new operating model which helped us to deliver such a strong financial performance."

"The highlight of the second quarter was the Mobile Networks launch of our new AirScale baseband and radio products with up to 75% better power efficiency helping to reduce our environmental footprint and the lightest 32TRX massive MIMO active antenna in the market. In Network Infrastructure we sustained double-digit growth and have a series of product launches ahead in the second half to further strengthen our differentiation. Cloud and Network Services is making good progress on its portfolio rebalancing and Nokia Technologies continues to scale with two licensing agreements with automotive manufacturers including Daimler."

Some highlights:



https://www.nokia.com/about-us/investors/results-reports-Va2/


Tuesday, July 27, 2021

Microsoft Azure revenue leaps ahead 51% yoy

 Microsoft reported Q2 revenue of $46.2 billion, up increased 21%, and net income of $16.5 billion, up 47% yoy. Diluted earnings per share was $2.17 and increased 49%.


“We are innovating across the technology stack to help organizations drive new levels of tech intensity across their business,” said Satya Nadella, chairman and chief executive officer of Microsoft. “Our results show that when we execute well and meet customers’ needs in differentiated ways in large and growing markets, we generate growth, as we’ve seen in our commercial cloud – and in new franchises we’ve built, including gaming, security, and LinkedIn, all of which surpassed $10 billion in annual revenue over the past three years.”

Revenue in Productivity and Business Processes was $14.7 billion and increased 25% (up 21% in constant currency), with the following business highlights:

  • Office Commercial products and cloud services revenue increased 20% (up 15% in constant currency) driven by Office 365 Commercial revenue growth of 25% (up 20% in constant currency)
  • Office Consumer products and cloud services revenue increased 18% (up 15% in constant currency) and Microsoft 365 Consumer subscribers increased to 51.9 million
  • LinkedIn revenue increased 46% (up 42% in constant currency) driven by Marketing Solutions growth of 97% (up 91% in constant currency)
  • Dynamics products and cloud services revenue increased 33% (up 26% in constant currency) driven by Dynamics 365 revenue growth of 49% (up 42% in constant currency)

Revenue in Intelligent Cloud was $17.4 billion and increased 30% (up 26% in constant currency), with the following business highlights:

  • Server products and cloud services revenue increased 34% (up 29% in constant currency) driven by Azure revenue growth of 51% (up 45% in constant currency)

Revenue in More Personal Computing was $14.1 billion and increased 9% (up 6% in constant currency), with the following business highlights:

  • Windows OEM revenue decreased 3%
  • Windows Commercial products and cloud services revenue increased 20% (up 14% in constant currency)
  • Xbox content and services revenue decreased 4% (down 7% in constant currency)
  • Search advertising revenue excluding traffic acquisition costs increased 53% (up 49% in constant currency)
  • Surface revenue decreased 20% (down 23% in constant currency)

https://www.microsoft.com/en-us/Investor/earnings/FY-2021-Q4/press-release-webcast



Monday, July 26, 2021

F5 posts revenue of $652 million, up 12% yoy

F5 Networks reported GAAP revenue of $652 million, up 12% yoy, for its fiscal third quarter ended June 30, 2021. Non-GAAP net income for the third quarter of fiscal year 2021 was $169 million, or $2.76 per diluted share, compared to $134 million, or $2.18 per diluted share, in the third quarter of fiscal year 2020.

Our very strong third quarter results demonstrate the powerful alignment of F5’s expanded solution portfolio and our customers’ most important application needs,” said Fran├žois Locoh-Donou, F5’s President and CEO. “Robust software growth and resilient demand for systems drove 12% GAAP revenue growth in our third quarter, and 11% revenue growth versus the prior year’s third quarter non-GAAP revenue.”



Locoh-Donou continued, “Customers’ traditional applications are generating more revenue and more engagement than ever before. At the same time, customers also are accelerating adoption of modern application architectures, like Kubernetes, for new applications. With our expanded application security and delivery portfolio, we are uniquely positioned to solve our customers’ most significant modern and traditional application challenges on premises, in the cloud, and across multiple clouds.”

Sunday, July 25, 2021

Intel's Q2 PC sales rise, but data center continues to dip

 Citing record Q2 revenue in its PC and Mobileye businesses, on July 2, Intel reported Q2 revenue of $19.6 billion, flat year over year (YoY), and non-GAAP revenue of $18.5 billion, up 2% YoY, which exceeded April guidance by $700 million. EPS) was $1.24. The results exceeded Q2 guidance for revenue, EPS, and gross margin.

“There’s never been a more exciting time to be in the semiconductor industry. The digitization of everything continues to accelerate, creating a vast growth opportunity for us and our customers across core and emerging business areas. With our scale and renewed focus on both innovation and execution, we are uniquely positioned to capitalize on this opportunity, which I believe is merely the beginning of what will be a decade of sustained growth across the industry,” said Pat Gelsinger, Intel CEO. “Our second-quarter results show that our momentum is building, our execution is improving, and customers continue to choose us for leadership products.”

Gelsinger also stated "While I expect the shortages to bottom out in the second half, it will take another 1 to 2 years before the industry is able to completely catch up with demand. IDM 2.0, which combines our internal manufacturing capacity with the use of third-party foundries, best positions us to weather these challenges and work with our ecosystem partners to build a more resilient supply chain."


Thursday, July 22, 2021

AT&T Fiber: 246,000 net adds in Q2 bring total to 5.4M

Citing higher revenues for its WarnerMedia, Mobility, Mexico, and Consumer Wireline groups, AT&T reported Q2 sales of $44.0 billion versus $41.0 billion in the year-ago quarter, up 7.6% reflecting partial recovery from the prior-year impacts of COVID-19.  The gains were offset by declines in domestic video and Business Wireline, which were $6.1 billion, down 4.0% year over year from lower service revenues. Second-quarter revenues were $28.1 billion, up 6.1% year over year due to increases in Mobility and Consumer Wireline.

Second-quarter net income attributable to common stock was $1.5 billion, or $0.21 per diluted common share, versus $1.2 billion, or $0.17 per diluted common share in the year-ago quarter. Cash from operating activities was $10.9 billion, down $1.1 billion year over year, with capital expenditures of $4.0 billion and content spend of $5.3 billion 

“We’re pleased with our performance and our momentum is strong,” said John Stankey, AT&T CEO. “For the fourth consecutive quarter, we saw good subscriber growth across wireless, fiber and HBO Max. Mobility delivered strong service revenue, EBITDA and postpaid phone growth. Our fiber business, which leads on customer satisfaction, grew subscribers and penetration."

Some highlights

Communications 

Mobility:

  • 789,000 postpaid phone net adds
  • 1,156,000 postpaid net adds
  • 174,000 prepaid phone net adds
  • Postpaid phone churn of 0.69%, equaling lowest churn ever
  • Revenues up 10.4%; service revenues up 5.0%; equipment revenues up 31.9%
  • Operating income of $6.0 billion, up 3.4% year over year; EBITDA4 up 2.7%
  • Operating income margin of 31.7%; EBITDA service margin5 55.9%

Consumer Wireline:

  • 246,000 AT&T Fiber net adds; penetration more than 36%
  • Revenues up 2.9%; broadband revenues up 8.3% with ARPU growth of 6.1%

WarnerMedia 

  • 2.8 million total domestic HBO Max and HBO subscriber6 net adds; total domestic subscribers of 47.0 million, up 10.7 million in past year; and 67.5 million7 globally, up
  • 12.0 million in past year
  • Launched ad-supported HBO Max and international offerings
  • Domestic HBO Max and HBO subscriber ARPU8 of $11.90
  • Total revenues up 30.7% to $8.8 billion
  • Direct-to-Consumer subscription revenues up nearly 40%
  • Now expect 70-73 million global HBO Max/HBO subscribers by end of year

https://investors.att.com/financial-reports/quarterly-earnings/2021


Wednesday, July 21, 2021

Verizon reports increased 5G adoption and record 2Q

 Citing wireless revenue growth, strong Fios and Verizon Media results, and increased wireless equipment revenue, Verizon reported consolidated operating revenues in second-quarter 2021 of $33.8 billion, up 10.9 percent from second-quarter 2020, and an increase of 5.3 percent from second-quarter 2019. Verizon reported EPS of $1.40, compared with $1.13 in second-quarter 2020. 

Capital expenditures in first-half 2021 were $8.7 billion, including more than $160 million for C-band expansion.

“Second quarter results were exceptional, both financially and operationally,” said Verizon Chief Financial Officer Matt Ellis. “Our strong first half performance and the momentum in our business gives us the confidence to raise our total wireless service revenue growth guidance to between 3.5 percent and 4 percent, an update from prior guidance for 2021 total wireless service revenue growth of at least 3 percent. We are also raising our adjusted EPS guidance* to the range of $5.25 to $5.35, an update from prior guidance for 2021 adjusted EPS of $5.00 to $5.15."

Some highlights

Consumer

  • Consumer ended second-quarter 2021 with approximately 20 percent of wireless phone customers having 5G-capable devices.
  • Total Verizon Consumer revenues were $23.5 billion, an increase of 11.2 percent year over year, and an increase of 6.7 percent from second-quarter 2019. 
  • Total wireless retail postpaid churn was 0.83 percent in second-quarter 2021. Wireless retail postpaid phone churn was 0.65 percent, a record-low retail postpaid phone churn outside of second-quarter 2020 and third-quarter 2020, which were heavily impacted by the pandemic. 
  • In second-quarter 2021, Consumer reported 350,000 wireless retail postpaid net additions. This consisted of 197,000 phone net additions and 234,000 other connected device net additions, offset by 81,000 tablet net losses.
  • There were 92,000 Fios Internet net additions in second-quarter 2021. Consumer Fios revenues of $2.9 billion in second-quarter 2021 were the highest since the company's new operating structure was introduced in 2019. The company's trailing 12-month total Fios Internet net addition performance is the highest since 2015. Consumer reported 62,000 Fios Video net losses in second-quarter 2021.

Business

  • Total Verizon Business revenues were $7.8 billion, up 3.7 percent year over year, and relatively flat from second-quarter 2019.
  • Business wireless service revenues were $3.1 billion in second-quarter 2021, an 8.0 percent increase year over year, and an increase of 11.4 percent from second-quarter 2019. This increase was led by Small and Medium Business and Global Enterprise. 
  • Total wireless retail postpaid churn was 1.30 percent in second-quarter 2021, and wireless retail postpaid phone churn was 1.07 percent.
  • Business reported 178,000 wireless retail postpaid net additions in second-quarter 2021, including 78,000 phone net additions.

NETGEAR cites continuing supply chain constraints, freight costs

NETGEAR reported second quarter 2021 net revenue of $308.8 million, an increase of 10.3% from the comparable prior year quarter. Second quarter 2021 non-GAAP net income per diluted share of $0.66, as compared to $0.54 in the comparable prior year quarter.

Patrick Lo, Chairman and Chief Executive Officer of NETGEAR, commented, “Second quarter revenue came in at $308.8 million, representing 10.3% topline growth year over year. Worldwide supply chain constraints, however, such as component shortages, increased freight costs and transit times, and factory closures due to COVID-19, led to a perfect storm of factors that held back our revenue number and saw us fall short of our operating margin goals. As we continue to navigate through this rapidly changing environment, our long-term thesis that premium WiFi will drive the growth of the consumer networking market and our service subscriber base remains intact. With vaccination rates rising and businesses reopening, work from anywhere and hybrid work models are here to stay and we anticipate that the U.S. consumer networking market will grow 20% above pre-pandemic levels in the second half of this year. Meanwhile, demand for our SMB products rebounded strongly in the second quarter as businesses reopened post-COVID. Despite supply constraints, SMB net revenue grew approximately 58% year over year.”

https://investor.netgear.com/overview/default.aspx

Monday, July 12, 2021

Ekinops posts record 1H2021 revenue of EUR50.8m

Ekinops reported consolidated revenue of €27.6m in Q2 2021, a 12% increase compared with Q2 2020. At constant exchange rates, quarterly growth comes out at 14%. Revenue for the first half of the year amounted to €50.8 million, up 11% over the same period last year.

Ekinops said all its Group product lines (Optical Transport, Access and Software) posted growth and contributed to the solid half-year performance. Optical Transport demonstrated particularly strong momentum, with H1 growth of 26%, and, for the first time, generated over €10m in revenue in a single quarter.

The share of software and services increased to 12% of revenue in the reporting period (compared with 8% in H1 2020), driven in particular by the success of network function virtualization solutions.

In geographic terms, growth in North America came out at 15%, rising to 25% in US dollars. While Optical Transport equipment continue to prove highly successful, the first half was marked by a boost in the sales of Access solutions. These solutions enable operators to undertake the virtualization of their network functions and benefit from new-generation software-defined networks (SDNs). Access sales almost doubled in the region, reaching a seven-digit number over the period. After a stable first quarter, the EMEA region bounced back sharply in the second, ending the first half with robust growth of 22%. All the business lines posted growth, with an extremely strong increase for Optical Transport equipment. First-half growth in France amounted to 4%, with a slight slowdown in Q2 2021 that was to be expected owing to extremely strong momentum in the region in Q2 2020 (growth of 29%). In the domestic market, all the Group's business activities also posted growth. In Asia-Pacific, the business activity remained depressed in the first half (-29%). The region continues to struggle to rebound following the extreme impact of the pandemic.

https://www.ekinops.com/news/corporate/record-revenue-in-first-half-2021-50-8m-for-a-substantial-increase-of-13-at-constant-exchange-rates

Saturday, June 12, 2021

SANWA acquires Fiberon for passive and active connectors

SANWA Denki Kogyo Co., Ltd. completed its acquisition of Fiberon Technologies, another provider of fiber optic network solutions. Financial terms were not disclosed.

FIBERON, founded in 1998, specializes in advanced passive and active connectivity products for the optical fiber communications market.

“FIBERON has continuously delivered quality products with excellent service and speed as a trusted supply partner to its customers,” said Yasuo Ishii, President and CEO of SANWA. “Joining FIBERON’s advanced product lines and strategic geographical presence together with SANWA’s unparalleled engineering, manufacturing, and quality management will significantly expand the available product range and service reach for current customers and offer a powerful supplier partnership for optical communications industry worldwide.”

In addition to the expanded product offerings by both companies, SANWA’s in-house design, engineering and manufacturing capabilities will now provide custom engineering and OEM sourcing options to FIBERON’s existing and new customers.

https://www.sanwa-us.com/

Tuesday, June 1, 2021

HPE posts sales of $6.7 billion, up 11% yoy

Hewlett Packard Enterprise (NYSE: HPE) reported sales of $6.7 billion for its 2nd quarter, ended April 30, 2021, up 11% from the prior-year period or 9% when adjusted for currency, with better than normal sequential seasonality driven by strong demand. GAAP gross margins was 34.1%. Non-GAAP diluted net EPS was $0.46, compared to $0.27 in the prior-year period and above the previously provided outlook of $0.38 to $0.44 per share. 

“Our disciplined execution on our strategic priorities is positively impacting both top and bottom line performance,” said Antonio Neri, president and CEO of Hewlett Packard Enterprise. “We are strengthening our core compute and storage businesses, doubling down in our growth Intelligent Edge and HPC businesses and accelerating our pivot to as-a-service, while also advancing our cloud-first innovation agenda to become the edge-to-cloud platform as-a-service choice for our customers and partners.”

“As businesses emerge from the pandemic and move beyond the immediate needs of COVID, digital transformation is at the forefront of their strategic initiatives,” said Neri. “Our focus has been to accelerate our strategy in order to help our customers transform their businesses, optimize their applications and data across an increasingly distributed world, and be future ready, today.”


Some highlights:

  • Intelligent Edge revenue was $799 million, up 20% from the prior-year period or 17% when adjusted for currency, with 15.5% operating profit margin, compared to 12.3% from the prior-year period. Switching was up 17% from the prior-year period when adjusted for currency, WLAN was up 16% from the prior-year period when adjusted for currency, and Aruba SaaS offering was up triple-digits from the prior-year period and is now a meaningful contributor to HPE’s overall ARR.
  • High Performance Compute & Mission Critical Systems (HPC & MCS) revenue was $685 million, up 13% from the prior-year period or 11% when adjusted for currency, with 2.8% operating profit margin, compared to 7.6% from the prior-year period. We remain on track to achieve our full year and 3-year revenue growth CAGR target of 8% to 12%.
  • Compute revenue was $3.0 billion, up 12% from the prior-year period or up 10% when adjusted for currency, with 11.3% operating profit margin, compared to 5.8% from the prior-year period.
  • Storage revenue was $1.1 billion, up 5% from the prior-year period or up 3% when adjusted for currency, with 16.8% operating profit margin, compared to 15.7% from the prior-year period. Notable strength in software-defined solutions, including Nimble, up 17% from the prior-year period when adjusted for currency with strong momentum in dHCI growing triple-digits. All flash Arrays grew 20% from the prior-year period led by Primera, up triple-digits from the prior-year period.
  • Financial Services revenue was $839 million, up 1% from the prior-year period or down 3% when adjusted for currency, with 10.8% operating profit margin, compared to 9.2% from the prior-year period. 

Thursday, May 27, 2021

VMware reports sales of $2.99 billion, up 9% yoy

VMware reported revenue for the first quarter of its fiscal year 2022 of $2.99 billion, an increase of 9% from the first quarter of fiscal 2021. GAAP net income was $425 million, or $1.01 per diluted share, compared to $386 million, or $0.92 per diluted share, for the first quarter of fiscal 2021. Non-GAAP net income for the first quarter was $744 million, or $1.76 per diluted share, up 16% per diluted share.


Highlights:

  • The combination of subscription and SaaS and license revenue was $1.39 billion, an increase of 12% from the first quarter of fiscal 2021.
  • Subscription and SaaS revenue for the first quarter was $741 million, an increase of 29% year-over-year.
  • RPO for the first quarter totaled $11.0 billion, up 9% year-over-year.
  • The VMware Special Committee of independent directors and Dell Technologies have agreed to terms in which VMware will be spun-off from Dell Technologies. The terms include significant simplification to the corporate ownership structure and an $11.5B to $12.0B special cash dividend recommended by the independent Special Committee and declared by the VMware Board to all VMware stockholders immediately prior to the spin-off and subject to the satisfaction of all closing conditions. The two companies have also finalized a commercial agreement that preserves and enhances their strategic partnership to deliver joint customer value.

“We are pleased with our Q1 financial performance as we delivered solutions for customers in strategic areas like multi-cloud, application modernization and digital workspaces, while focusing on providing a broader set of consumption choices with our Subscription and SaaS offerings,” said Zane Rowe, CFO and Interim CEO, VMware. “We are excited to welcome Raghu Raghuram as the next CEO of VMware. This milestone, along with the proposed Dell spin-off, sets the stage for the company’s next innovative chapter.”

Wednesday, May 5, 2021

ADTRAN posts Q1 revenue of $127.5 million


ADTRAN reported Q1 2021 revenue of $127.5 million compared to $114.5 million for the same period a year ago. Net income for the first quarter of 2021 was $0.9 million and earnings per share, assuming dilution, was $0.02 per share. Non-GAAP net income was $6.3 million and non-GAAP earnings per share, assuming dilution, was $0.13 per share. 

ADTRAN Chairman and Chief Executive Officer Tom Stanton stated, “Our business continues to be driven by strong demand for our fiber access platforms, in-home service delivery platforms and software platforms with regional service providers across the U.S. and Europe. These service providers increasingly turn to ADTRAN for end-to-end solutions that simplify the deployment of fiber-based broadband services while providing an enhanced subscriber experience. The increased demand for ADTRAN’s solutions was highlighted by record product order bookings in the quarter.”

ADTRAN also announced that its Board of Directors declared a cash dividend for the first quarter of 2021. The quarterly cash dividend of $0.09 per common share is to be paid to the company’s stockholders of record as of the close of business on May 20, 2021. 


Tuesday, May 4, 2021

Arista Networks reported Q1 2021 revenue of $667.6 million, an increase of 2.9% compared to the fourth quarter of 2020, and an increase of 27.6% from the first quarter of 2020.

GAAP gross margin was 63.7%, compared to GAAP gross margin of 63.9% in the fourth quarter of 2020 and 64.7% in the first quarter of 2020. Non-GAAP net income of $198.8 million, or $2.50 per diluted share, compared to non-GAAP net income of $161.7 million, or $2.02 per diluted share in the first quarter of 2020.

“Arista begins the 2021 year with a flying start. Clearly, the focus on our cognitive cloud networking suite is resonating with customers across diverse data sets and applications,” stated Jayshree Ullal, President and CEO of Arista Networks.


https://investors.arista.com/Home/default.aspx

Wednesday, April 28, 2021

Huawei's Q1 revenue drops 16.5% year-on-year

Huawei reported Q1 2021 revenue of CNY152.2 billion (US$23.17 billio) in revenue, a 16.5% decrease year-on-year. 

The company said its network business maintained steady growth, while its consumer business revenue declined, in part as a result of selling the Honor smart device brand in November 2020. Huawei's net profit margin was up 3.8 percentage points year-on-year at 11.1% – the result of the company's ongoing efforts to improve quality of operations and management efficiency, as well as a patent royalty income of US$600 million.

"2021 will be another challenging year for us, but it's also the year that our future development strategy will begin to take shape," said Eric Xu, Huawei's Rotating Chairman. "We thank our customers and partners for their ongoing trust. No matter what challenges come our way, we will continue to maintain our business resilience. Not just to survive, but do so sustainably. As always, we will remain focused on the needs of our customers and keep delivering practical business value."

"As always, we remain committed to technological innovation and investing heavily in R&D as we work to address supply continuity challenges caused by restrictions in the market", stressed Xu. "We will continue making breakthroughs in basic science and pushing the frontiers of technology."