Analog Devices (ADI) FY2013 results: revenue $2.6 billion, down 2.5% on the year
Analog Devices Inc. (ADI) reported revenue of $2.6 billion for fiscal 2013, the year ended 2 November 2013, down 2.5% on the year before. Net income was $673 million, up 3.4%, and diluted earnings per share $2.14. The figures are the company's own, from the 10-K it filed with the SEC on 26 November 2013.
Revenue
$2.6 billion
-2.5% on the year
FY2007FY2013
Operating margin
28.6%
30.5% a year earlier
FY2007FY2013
Net income
$673 million
+3.4% on the year
FY2007FY2013
Diluted EPS
$2.14
+0.5% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
2,634
2,701
2,993
-2.5%
Cost of revenue
941
960
1,007
-2.0%
Gross profit
1,692
1,741
1,987
-2.8%
Gross margin
64.3%
64.5%
66.4%
Research and development
513
512
506
+0.2%
Selling, general and administrative
396
397
407
-0.1%
Operating income
753
824
1,072
-8.6%
Operating margin
28.6%
30.5%
35.8%
Interest expense
27.1
26.4
19.1
+2.6%
Pre-tax income
815
814
1,061
+0.2%
Income tax
142
162
201
-12.6%
Effective tax rate
17.4%
19.9%
18.9%
Net income
673
651
867
+3.4%
Net margin
25.6%
24.1%
29.0%
Diluted EPS
$2.14
$2.13
$2.81
+0.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
912
815
901
+12.0%
Capital expenditure
123
132
123
-6.9%
Free cash flow
789
682
778
+15.7%
Free cash flow margin
30.0%
25.3%
26.0%
Cash from investing
-950
-1,340
-704
Cash from financing
-101
-350
139
Depreciation and amortisation
110
110
118
+0.5%
Share-based compensation
56.9
53.5
52.4
+6.3%
Buybacks
60.5
161
330
-62.4%
Dividends paid
406
345
282
+17.8%
Dividend per share
$1.32
$1.15
$0.94
+14.8%
Diluted shares, weighted
314m
306m
308m
+2.6%
Shares outstanding at period end
311m
301m
298m
+3.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
4,740
4,165
3,795
+13.8%
Debt
872
822
886
+6.2%
Other liabilities
770
633
596
+21.6%
Total liabilities and equity
6,382
5,620
5,278
+13.5%
Fixed assets
508
501
479
+1.5%
Goodwill
284
284
275
+0.1%
Intangible assets
28.6
28.8
12.2
-0.8%
Investments
4,295
3,373
2,190
+27.3%
Cash and equivalents
392
529
1,405
-25.9%
Receivables
325
340
348
-4.3%
Inventory
283
314
295
-9.7%
Other assets
266
251
273
+5.8%
Total assets
6,382
5,620
5,278
+13.5%
10-K for the year ended 2 November 2013, filed 26 November 2013: the filing.