NETSCOUT SYSTEMS INC (NTCT) [Rocket]

In millions, except per share items	Mar-31-23	Mar-31-22	Mar-31-21	Mar-31-20	Mar-31-19	Mar-31-18	Mar-31-17	Mar-31-16
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Service								322.0
Product								633.4
Total revenues [+]	914.5	855.6	831.3	891.8	909.9	986.8	1,162.1	955.4
Products								633.4
Services								322.0
Revenue growth [+]	6.9%	2.9%	-6.8%	-2.0%	-7.8%	-15.1%	21.6%	110.6%
Service								78.1%
Product								132.1%
Cost of goods sold [+]	223.1	214.2	222.1	242.2	254.1	271.9	346.1	689.3
Cost of product sales								238.0
Cost of services								90.4
Amortization of intangibles	55.4	59.7	61.1	64.5	74.3	76.6	70.1	32.4
Gross profit	691.4	641.4	609.2	649.6	655.8	714.9	816.0	266.1
Gross margin	75.6%	75.0%	73.3%	72.8%	72.1%	72.4%	70.2%	27.9%
Selling, general and administrative [+]	380.4	361.9	331.7	376.5	385.4	422.0	447.1	411.0
Sales and marketing	276.9	264.2	242.7	276.5	291.9	312.5	328.6	293.3
General and administrative	103.5	97.7	89.0	100.0	93.6	109.5	118.4	117.7
Research and development	176.2	171.1	179.2	188.3	203.6	215.1	232.7	208.6
Other operating expenses	54.0	59.7	61.1	64.5	74.3	76.6	70.1	-328.4
EBITDA [+]	166.7	144.4	143.0	136.4	130.3	154.7	226.9	115.0
EBITDA growth	15.5%	1.0%	4.8%	4.7%	-15.7%	-31.8%	97.3%	-1.3%
EBITDA margin	18.2%	16.9%	17.2%	15.3%	14.3%	15.7%	19.5%	12.0%
Depreciation	20.0	21.4	24.2	24.9	29.5	36.5	34.8	55.7
EBITA	146.8	123.0	118.8	111.5	100.8	118.1	192.2	59.3
EBITA margin	16.0%	14.4%	14.3%	12.5%	11.1%	12.0%	16.5%	6.2%
Amortization of intangibles	66.0	74.4	81.6	91.2	108.4	117.0	126.1	84.4
EBIT [+]	80.8	48.6	37.2	20.3	-7.5	1.2	66.1	-25.1
EBIT growth	66.2%	30.8%	83.1%	-369.2%	-755.4%	-98.3%	-363.4%	-125.9%
EBIT margin	8.8%	5.7%	4.5%	2.3%	-0.8%	0.1%	5.7%	-2.6%
Non-recurring items [+]	3.2		0.1	2.7	64.0	5.2	4.0	0.5
Asset impairment					35.9
Loss (gain) on sale of business					9.5
Interest expense, net [+]	5.3	7.8	10.2	16.1	20.9	10.8	8.2	5.6
Interest expense	10.2	8.0	10.9	20.6	26.1	12.6	9.2	6.3
Interest income	4.9	0.3	0.6	4.5	5.2	1.8	1.0	0.7
Other income (expense), net [+]	-3.9	2.0	-4.6	0.4	-0.4	-3.8	-1.7	-1.3
Other	-3.9	2.0	-4.6	0.4	-0.4	-3.8	-1.7	-1.3
Pre-tax income	68.4	42.9	22.3	1.9	-92.9	-18.7	52.2	-32.4
Income taxes	8.8	7.0	3.0	4.7	-19.6	-98.5	18.9	-4.1
Tax rate	12.8%	16.4%	13.2%	243.1%	21.1%	527.7%	36.2%	12.5%
Net income	59.6	35.9	19.4	-2.8	-73.3	79.8	33.3	-28.4
Net margin	6.5%	4.2%	2.3%	-0.3%	-8.1%	8.1%	2.9%	-3.0%

Basic EPS [+]	$0.95	$0.58	$0.31	$0.03	($1.18)	($0.21)	$0.57	($0.40)
Growth	64.5%	89.9%	1091.9%	-102.2%	453.7%	-137.7%	-242.9%	-117.1%
Diluted EPS [+]	$0.94	$0.57	$0.30	$0.03	($1.18)	($0.21)	$0.56	($0.40)
Growth	64.0%	89.1%	1080.3%	-102.2%	459.0%	-137.6%	-241.8%	-117.4%

Shares outstanding (basic) [+]	71.8	74.0	73.1	75.2	78.6	87.4	92.2	81.9
Growth	-3.0%	1.3%	-2.7%	-4.4%	-10.1%	-5.2%	12.6%	99.3%
Shares outstanding (diluted) [+]	73.0	75.1	73.8	75.2	78.6	88.3	92.9	81.9
Growth	-2.7%	1.7%	-1.8%	-4.4%	-10.9%	-5.0%	13.4%	96.8%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.