Advanced Energy Industries (AEIS) FY2013 results: revenue $299 million, down 33.8% on the year
Advanced Energy Industries Inc. (AEIS) reported revenue of $299 million for fiscal 2013, the year ended 31 December 2013, down 33.8% on the year before. Net income was $32 million, up 55.9%, and diluted earnings per share $0.79. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2014.
Revenue
$299 million
-33.8% on the year
FY2009FY2013
Operating margin
16.0%
6.1% a year earlier
FY2009FY2013
Net income
$32 million
+55.9% on the year
FY2009FY2013
Diluted EPS
$0.79
+51.9% on the year
FY2009FY2013
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
299
452
517
-33.8%
Cost of revenue
154
284
312
-45.9%
Gross profit
146
168
205
-13.2%
Gross margin
48.6%
37.1%
39.7%
Research and development
35.4
58.1
65.0
-39.1%
Selling, general and administrative
57.3
69.1
79.7
-17.1%
Operating income
47.8
27.4
49.3
+74.8%
Operating margin
16.0%
6.1%
9.5%
Interest expense
0.3
n/a
n/a
Pre-tax income
48.3
29.8
50.5
+62.1%
Income tax
-11.4
9.6
13.6
Effective tax rate
-23.6%
32.3%
27.0%
Net income
32.1
20.6
36.3
+55.9%
Net margin
10.7%
4.6%
7.0%
Diluted EPS
$0.79
$0.52
$0.83
+51.9%
$ 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
35.3
111
38.1
-68.1%
Capital expenditure
2.6
10.2
18.9
-74.7%
Free cash flow
32.7
101
19.2
-67.4%
Free cash flow margin
10.9%
22.2%
3.7%
Cash from investing
-70.9
-24.5
-34.7
Cash from financing
26.3
-54.9
-17.1
Depreciation and amortisation
7.0
17.8
14.5
-60.7%
Share-based compensation
9.8
12.7
12.5
-22.6%
Buybacks
0.0
57.1
17.9
Diluted shares, weighted
41m
39m
44m
+3.1%
Shares outstanding at period end
41m
38m
42m
+6.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
464
390
409
+19.2%
Debt
13.7
0.0
0.0
Other liabilities
175
149
124
+17.7%
Total liabilities and equity
653
538
533
+21.3%
Fixed assets
34.9
39.5
42.3
-11.7%
Goodwill
14.2
60.4
46.5
-76.5%
Intangible assets
19.4
46.2
43.4
-58.0%
Cash and equivalents
127
147
118
-13.0%
Receivables
126
83.9
132
+49.9%
Inventory
110
81.5
80.3
+34.7%
Other assets
221
80.1
70.7
+176.5%
Total assets
653
538
533
+21.3%
10-K for the year ended 31 December 2013, filed 3 March 2014: the filing.