AVAYA Inc. (AV, Financial) filed Annual Report for the period ended 2011-09-30.
Aviva Plc Ads has a market cap of $13.86 billion; its shares were traded at around $9.68 with and P/S ratio of 0.2. The dividend yield of Aviva Plc Ads stocks is 8.7%.
Our distribution network includes, as of September 30, 2011, approximately 9,100 channel partners, including a global network of alliance partners, distributors, dealers, value-added resellers, telecommunications service providers and system integrators. Our indirect sales channel represented 76% of our product revenues for fiscal year 2011, 71% of our product revenues for fiscal year 2010, and 53% of our product revenues for fiscal year 2009. Our revenue outside the United States represented 46%, 45% and 45% of our total revenue in fiscal years 2011, 2010, and 2009, respectively.
Revenue in the U.S. for fiscal year 2011 and 2010 was $2,998 million and $2,764 million, respectively. Revenue in the U.S. increased $234 million or 8% primarily due to incremental revenue from the NES business for fiscal year 2011 as compared to results for fiscal year 2010, which included the results of the NES business for only the period of December 19, 2009 through September 30, 2010. This increase also included an increase in sales volume driven by new product offerings. Revenue in EMEA for fiscal year 2011 and 2010 was $1,488 million and $1,383 million, respectively. Revenue in EMEA increased $105 million or 8% primarily due to incremental revenue from the NES business for fiscal year 2011 as compared to results for fiscal year 2010, which included the results of the NES business for only the period of December 19, 2009 through September 30, 2010 and an increase in sales volume of unified communications products. The increase of revenue in EMEA was partially offset by a decrease of revenue in Germany attributable to customers reducing spending on maintenance contracts and the decline in our rental base as lease renewals are typically at lower rates, which is expected to continue in fiscal year 2012. Revenue in APAC and Americas International increased $51 million and $97 million, respectively. The increases were due to incremental revenue from the NES business for fiscal year 2011 as compared to results for fiscal year 2010, which included the results of the NES business for only the period of December 19, 2009 through September 30, 2010, increased sales volume driven by new product offerings and an increase in professional services, as well as the favorable impact of foreign currency. The increase in revenue in APAC was partially offset by the impact of our divestiture of AGC in August 2010. Although we continue to market to end users in the APAC region through the indirect channel using AGC as a business partner, sales through our indirect channel generally generate lower top line revenue due to volume discounts.
Gross margin for fiscal year 2011 and 2010 was $2,632 million and $2,172 million, respectively. Gross margin increased by $460 million or 21% primarily due to the incremental margin from the NES business for fiscal year 2011 as compared to results for fiscal year 2010, which included the results of the NES business for only the period of December 19, 2009 through September 30, 2010 and an increase in sales volume. The gross margin percentage increased to 47.4% for fiscal year 2011 from 42.9% for the fiscal year 2010. The increase in gross margin and gross margin percentage is primarily due to higher sales volume which leveraged our fixed costs, prior period cost saving initiatives including exiting facilities and reducing the workforce and relocating positions to lower-cost geographies and lower amortization of technology intangible assets, partially offset by higher costs associated with our employee incentive programs, which are driven by our actual financial results relative to established targets.
Revenue in the U.S. for fiscal year 2010 and 2009 was $2,764 million and $2,276 million, respectively. Revenue in the U.S. increased $488 million or 21% primarily due to incremental revenue from the NES business partially offset by a decline in services revenue due to customers cancelling or renegotiating maintenance contracts, a decrease in demand as a result of the global economy and cautious spending by our customers, as well as the curtailment of purchases and upgrades by many customers while the Company completed its consolidation of the NES and Avaya product lines. Revenue in EMEA for fiscal year 2010 and 2009 was $1,383 million and $1,192 million, respectively. Revenue in EMEA increased $191 million or 16% primarily as a result of incremental
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Aviva Plc Ads has a market cap of $13.86 billion; its shares were traded at around $9.68 with and P/S ratio of 0.2. The dividend yield of Aviva Plc Ads stocks is 8.7%.
Highlight of Business Operations:
For fiscal years 2011 and 2010, we had total revenue of $5,547 million and $5,060 million, respectively. For fiscal year 2011, product revenue represented 54% of our total revenue and services revenue represented 46%. For fiscal year 2010, product revenue represented 51% of our total revenue and services revenue represented 49%. Revenue generated in the United States for fiscal 2011 and 2010 was 54% and 55%, respectively. For fiscal years 2011 and 2010, we had net losses of $863 million and $871 million, respectively, and Adjusted EBITDA of $971 million and $795 million, respectively. See EBITDA and Adjusted EBITDA for a definition and explanation of Adjusted EBITDA and a reconciliation of net loss to Adjusted EBITDA.Our distribution network includes, as of September 30, 2011, approximately 9,100 channel partners, including a global network of alliance partners, distributors, dealers, value-added resellers, telecommunications service providers and system integrators. Our indirect sales channel represented 76% of our product revenues for fiscal year 2011, 71% of our product revenues for fiscal year 2010, and 53% of our product revenues for fiscal year 2009. Our revenue outside the United States represented 46%, 45% and 45% of our total revenue in fiscal years 2011, 2010, and 2009, respectively.
Revenue in the U.S. for fiscal year 2011 and 2010 was $2,998 million and $2,764 million, respectively. Revenue in the U.S. increased $234 million or 8% primarily due to incremental revenue from the NES business for fiscal year 2011 as compared to results for fiscal year 2010, which included the results of the NES business for only the period of December 19, 2009 through September 30, 2010. This increase also included an increase in sales volume driven by new product offerings. Revenue in EMEA for fiscal year 2011 and 2010 was $1,488 million and $1,383 million, respectively. Revenue in EMEA increased $105 million or 8% primarily due to incremental revenue from the NES business for fiscal year 2011 as compared to results for fiscal year 2010, which included the results of the NES business for only the period of December 19, 2009 through September 30, 2010 and an increase in sales volume of unified communications products. The increase of revenue in EMEA was partially offset by a decrease of revenue in Germany attributable to customers reducing spending on maintenance contracts and the decline in our rental base as lease renewals are typically at lower rates, which is expected to continue in fiscal year 2012. Revenue in APAC and Americas International increased $51 million and $97 million, respectively. The increases were due to incremental revenue from the NES business for fiscal year 2011 as compared to results for fiscal year 2010, which included the results of the NES business for only the period of December 19, 2009 through September 30, 2010, increased sales volume driven by new product offerings and an increase in professional services, as well as the favorable impact of foreign currency. The increase in revenue in APAC was partially offset by the impact of our divestiture of AGC in August 2010. Although we continue to market to end users in the APAC region through the indirect channel using AGC as a business partner, sales through our indirect channel generally generate lower top line revenue due to volume discounts.
Gross margin for fiscal year 2011 and 2010 was $2,632 million and $2,172 million, respectively. Gross margin increased by $460 million or 21% primarily due to the incremental margin from the NES business for fiscal year 2011 as compared to results for fiscal year 2010, which included the results of the NES business for only the period of December 19, 2009 through September 30, 2010 and an increase in sales volume. The gross margin percentage increased to 47.4% for fiscal year 2011 from 42.9% for the fiscal year 2010. The increase in gross margin and gross margin percentage is primarily due to higher sales volume which leveraged our fixed costs, prior period cost saving initiatives including exiting facilities and reducing the workforce and relocating positions to lower-cost geographies and lower amortization of technology intangible assets, partially offset by higher costs associated with our employee incentive programs, which are driven by our actual financial results relative to established targets.
Revenue in the U.S. for fiscal year 2010 and 2009 was $2,764 million and $2,276 million, respectively. Revenue in the U.S. increased $488 million or 21% primarily due to incremental revenue from the NES business partially offset by a decline in services revenue due to customers cancelling or renegotiating maintenance contracts, a decrease in demand as a result of the global economy and cautious spending by our customers, as well as the curtailment of purchases and upgrades by many customers while the Company completed its consolidation of the NES and Avaya product lines. Revenue in EMEA for fiscal year 2010 and 2009 was $1,383 million and $1,192 million, respectively. Revenue in EMEA increased $191 million or 16% primarily as a result of incremental
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