Netscout Systems Inc

Latest Results (14.08.2024):

Revenue Performance

Netscout Systems Inc. reported total revenue of $203.4 million for the fourth quarter of fiscal year 2024, a slight decrease from the $208.1 million reported in the same quarter of fiscal year 2023. This decline reflects the constrained customer spending environment affecting their Service Assurance offerings.

Product and Service Revenue

For the fourth quarter of fiscal year 2024, Netscout Systems Inc. generated $89.4 million in product revenue, which accounted for approximately 44% of total revenue. Service revenue for the same period was $114.0 million, making up about 56% of total revenue. These figures are slightly down from the previous year's fourth quarter.

Operating Income and Margin

Netscout Systems Inc. experienced a GAAP loss from operations of $37.0 million in the fourth quarter of fiscal year 2024, primarily due to a non-cash goodwill impairment charge of $50.2 million. This resulted in a negative operating margin of 18.2%, compared to a positive margin of 0.8% in the same quarter of the previous year.

Net Income and Earnings Per Share

The company reported a GAAP net loss of $32.4 million, or $0.46 per share (diluted), for the fourth quarter of fiscal year 2024. On a non-GAAP basis, Netscout Systems Inc. achieved a net income of $39.8 million, or $0.55 per share (diluted), showing an improvement from the $27.2 million, or $0.38 per share (diluted), reported in the fourth quarter of fiscal year 2023.

Cash and Debt Position

As of March 31, 2024, Netscout Systems Inc. held $424.1 million in cash, cash equivalents, and marketable securities. The company did not repurchase any shares during the fourth quarter and had an outstanding debt balance of $100 million under its revolving credit facility, which is set to expire in July 2026.