LONDON, UK / ACCESSWIRE / March 27, 2018 / Active-Investors.com has just released a free earnings report on Arista Networks, Inc. (NYSE: ANET) ("Arista"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ANET. Arista Networks reported its fourth quarter and fiscal 2017 operating and financial results on February 15, 2018. The cloud networking Company reported better-than-expected revenue and earnings results. Additionally, the Company provided guidance for Q1 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Arista Networks most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the quarter ended December 31, 2017, Arista's revenue surged 42% to $467.9 million compared to revenue of $328.0 million in Q4 2016. The Company's reported numbers beat analysts' estimates of $464.2 million.

During Q4 2017, Arista's GAAP gross margin was 65.7% compared to GAAP gross margin of 64.1% in Q4 2016. The Company's reported quarter non-GAAP gross margin came in at 65.9% versus non-GAAP gross margin of 64.4% in the prior year's comparable quarter.

For Q4 2017, Arista reported GAAP net income of $103.8 million, or $1.29 per diluted share, compared to GAAP net income of $58.8 million, or $0.79 per diluted share, in Q4 2016. The Company's non-GAAP net income for the reported quarter totaled $137.3 million, or $1.71 per diluted share, compared to non-GAAP net income of $77.5 million, or $1.04 per diluted share, in the year earlier same quarter. Arista's earnings beat Wall Street's estimates of $1.45 per share.

For full year (FY) 2017, Arista's revenue advanced 45.8% to $1.65 billion compared to $1.13 billion in FY16.

For FY17, Arista recorded GAAP net income of $423.2 million, or $5.35 per diluted share, compared to GAAP net income of $184.2 million, or $2.50 per diluted share, in FY16. The Company's non-GAAP net income was $442.8 million, or $5.61 per diluted share, in FY17 compared to non-GAAP net income of $241.4 million, or $3.30 per diluted share, in FY16.

Operating Details

During Q4 2017, Arista's product revenues totaled $407.2 million, up 41% compared to $289.0 million in Q4 2016 and represented approximately 87% of revenue. The Company's reported quarter service revenue was $60.7 million, up 56% versus $39.0 million in the year ago corresponding period and reflected approximately 13% of Q4 2017 total revenue.

In terms of customer trends, as of December 31, 2017, Arista had acquired over 4,900 customers with Microsoft contributing 16% of the total revenue for FY17. At the end of 2017, the Company surpassed a cumulative total 15 million cloud networking ports and became the number one market share leader in 100 gigabit Ethernet switching.

Cash Matters

As of December 31, 2017, Arista's cash, cash equivalents, and investment were approximately $1.5 billion. The Company generated $183.7 million from in-cash from operations in the reported quarter, reflecting strong net income performance combined with a decrease in supply chain related working capital and deferred revenue amounts.

For Q4 2017, Arista's Days Sales Outstanding (DSO) came in at 49 days, up from 45 days in Q3 2017, reflecting the timing of billings in the reported quarter. The Company's Inventory turns were 1.8 times in the reported quarter, up from 1.7 in the prior quarter. Arista's inventory decreases were $306.2 million in Q4 2017, down from $332.3 million in Q3 2017, primarily reflecting reductions in raw materials as the Company continues to optimize its supply chain.

At the end of Q4 2017, Arista's total deferred revenue balance was $515.3 million, down from $565.1 million in Q3 2017. The Company's accounts payable were 30 days, up from 19 days in Q3 2017, reflecting the timing of inventory receipts and payments. Arista's capital expenditures for the reported quarter were $2.9 million.

Financial Outlook

For the first quarter of 2018, Arista is forecasting revenue between $450 million and $468 million. The Company is expecting non-GAAP gross margin between 63% to 65%, and non-GAAP operating margin of approximately 32%.

Stock Performance Snapshot

March 26, 2018 - At Monday's closing bell, Arista Networks' stock rose 2.56%, ending the trading session at $270.98.

Volume traded for the day: 1.04 million shares.

Stock performance in the last month ? up 10.19%; previous three-month period ? up 14.84%; past twelve-month period ? up 105.65%; and year-to-date ? up 15.03%

After yesterday's close, Arista Networks' market cap was at $20.74 billion.

Price to Earnings (P/E) ratio was at 45.42.

The stock is part of the Technology sector, categorized under the Diversified Computer Systems industry. This sector was up 3.0% at the end of the session.

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