Avaya announced that it plans to report results for the first quarter of fiscal 2018 ending December 31, 2017 on Thursday, March 1, 2018. Company will host a financial results webcast and conference call to discuss its financial results and Q&A at 6:00 AM PT/9:00 AM ET on March 1, 2018. On the call will be Jim Chirico, president and CEO, and Pat O’Malley, senior vice president and CFO. The call will be moderated by Peter Schuman, senior director of investor relations.
In financial results for the fourth quarter and fiscal year ended September 30, 2017, Avaya had reported total revenue of $790 million, down $13 million compared to the prior quarter and down $168 million year-over-year primarily as a result of the sale of the Networking business and lower demand for products and services primarily due to extended procurement cycles resulting from the chapter 11 filing.
Fourth quarter 2017 results included $5 million of revenue from the Networking business sold on July 14, 2017. Excluding the impact of the sale of the Networking business, revenue improved approximately 5% from the prior quarter and declined approximately 10% compared to the fourth quarter of fiscal 2016.
The Fourth quarter 2017, GAAP gross margin was 62.7% for the fourth quarter. Non-GAAP gross margin was 63.2%, which compares to 61.6% for the prior quarter and 61.8% for the fourth quarter of fiscal 2016. GAAP operating income was $64 million, which compares to a GAAP operating loss of $55 million for the prior quarter, and an operating loss of $425 million for the fourth quarter of fiscal 2016. Non-GAAP operating income was $178 million which compares to $157 million for the prior quarter and $232 million for the fourth quarter of fiscal 2016. GAAP net income was $27 million, which compares to a net loss of $98 million for the prior quarter, and a net loss of $483 million for the fourth quarter of fiscal 2016.
Non-GAAP net income was $162 million which compares to $149 million for the prior quarter and $174 million for the fourth quarter of fiscal 2016. For the fourth quarter, adjusted EBITDA(1) was $225 million or 28.5% of revenue, and compares to adjusted EBITDA of $204 million or 25.4% for the prior quarter and $284 million or 29.6% for the fourth quarter of fiscal 2016.If you have an interesting story to share, please send it to [email protected]