# Akamai Technologies Q4 revenue $579 million, an 8% increase

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Revenue for the fourth quarter was $579 million, an 8% increase over fourth quarter 2014 revenue of $536 million, and an 11% increase when adjusted for foreign exchange.

Total revenue for 2015 was $2.197 billion, a 12% increase over 2014 revenue of $1.964 billion and a 16% increase when adjusted for foreign exchange.

U.S. revenue was $416 million for the fourth quarter, a 5% increase over fourth quarter 2014 revenue. U.S. revenue for 2015 was $1.604 billion, a 12% increase over 2014 revenue.

International revenue was $163 million for the fourth quarter, a 17% increase over fourth quarter 2014 revenue and a 27% increase when adjusted for foreign exchange. International revenue for 2015 was $593 million, an 11% increase over 2014 revenue and a 24% increase when adjusted for foreign exchange.

GAAP income from operations for the fourth quarter was $123 million, a 10% decrease from fourth quarter 2014 GAAP income from operations of $136 million.

GAAP operating margin for the fourth quarter was 21%, down 4 percentage points from the same period last year. GAAP income from operations for 2015 was $466 million, a 5% decrease from the prior year's GAAP income from operations of $490 million. Full-year GAAP operating margin was 21%, down 4 percentage points from the prior year.

Non-GAAP income from operations for the fourth quarter was $168 million, a 4% decrease from fourth quarter 2014 non-GAAP income from operations of $175 million. Non-GAAP operating margin for the fourth quarter was 29%, down 4 percentage points from the same period last year.

Non-GAAP income from operations for 2015 was $638 million, a 1% decrease from the prior year's non-GAAP income from operations of $648 million. Full-year non-GAAP operating margin was 29%, down 4 percentage points from the prior year.

Net Income: GAAP net income for the fourth quarter was $88 million, a 9% decrease from fourth quarter 2014 GAAP net income of $97 million. Full-year GAAP net income was $321 million, a 4% decrease from 2014 GAAP net income of $334 million.

Non-GAAP net income for the fourth quarter was $129 million, a 1% increase over fourth quarter 2014 non-GAAP net income of $127 million. Full-year non-GAAP net income was $454 million, a 1% increase over 2014 non-GAAP net income of $449 million.

GAAP and non-GAAP net income results for the fourth quarter include a $12 million, or $0.06 per diluted share, benefit from the reinstatement of the federal R&D tax credit, which was retroactive to January 1, 2015.

EPS: GAAP EPS was $0.49 per diluted share, a 9% decrease from fourth quarter 2014 GAAP EPS of $0.54 and a 5% decrease when adjusted for foreign exchange. Full-year GAAP EPS was $1.78 per diluted share, a 3% decrease from 2014 GAAP EPS of $1.84 per diluted share and a 2% increase when adjusted for foreign exchange.

Non-GAAP EPS was $0.72 per diluted share, a 3% increase over fourth quarter 2014 non-GAAP EPS of $0.70 and a 5% increase when adjusted for foreign exchange. Full-year non-GAAP EPS was $2.52 per diluted share, a 2% increase over 2014 non-GAAP EPS of $2.48 per diluted share and a 6% increase when adjusted for foreign exchange.

Adjusted EBITDA: Adjusted EBITDA for the fourth quarter was $238 million, a 3% increase over fourth quarter 2014 Adjusted EBITDA of $232 million. Adjusted EBITDA margin for the fourth quarter was 41%, down 2 percentage points from the same period last year.

Adjusted EBITDA for the full-year was $897 million, a 5% increase from the prior year's Adjusted EBITDA of $853 million. Full-year adjusted EBITDA margin was 41%, down 2 percentage points from the prior year.

Cash flow from operations: Cash from operations for the fourth quarter was $218 million, or 38% of revenue, and for the full-year was $764 million, or 35% of revenue. Cash, cash equivalents and marketable securities were $1.5 billion at December 31, 2015.

The board has authorized a new $1 billion share repurchase program, effective from February 9, 2016 through December 31, 2018. ■