Advanced Energy Industries (AEIS) FY2014 results: revenue $367 million, up 22.7% on the year
Advanced Energy Industries Inc. (AEIS) reported revenue of $367 million for fiscal 2014, the year ended 31 December 2014, up 22.7% on the year before. Net income was $47 million, up 46.4%, and diluted earnings per share $1.14. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2015.
Revenue
$367 million
+22.7% on the year
FY2009FY2014
Operating margin
23.4%
16.0% a year earlier
FY2009FY2014
Net income
$47 million
+46.4% on the year
FY2009FY2014
Diluted EPS
$1.14
+44.3% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
367
299
452
+22.7%
Cost of revenue
179
154
284
+16.6%
Gross profit
188
146
168
+29.2%
Gross margin
51.2%
48.6%
37.1%
Research and development
36.9
35.4
58.1
+4.3%
Selling, general and administrative
58.5
57.3
69.1
+2.1%
Operating income
86.1
47.8
27.4
+79.9%
Operating margin
23.4%
16.0%
6.1%
Interest expense
n/a
0.3
n/a
Pre-tax income
86.0
48.3
29.8
+78.0%
Income tax
16.5
-11.4
9.6
Effective tax rate
19.2%
-23.6%
32.3%
Net income
47.0
32.1
20.6
+46.4%
Net margin
12.8%
10.7%
4.6%
Diluted EPS
$1.14
$0.79
$0.52
+44.3%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
77.2
35.3
111
+118.5%
Capital expenditure
3.4
2.6
10.2
+33.3%
Free cash flow
73.7
32.7
101
+125.2%
Free cash flow margin
20.1%
10.9%
22.2%
Cash from investing
-55.0
-70.9
-24.5
Cash from financing
-34.1
26.3
-54.9
Depreciation and amortisation
10.5
7.0
17.8
+49.7%
Share-based compensation
3.7
9.8
12.7
-62.3%
Buybacks
25.0
0.0
57.1
Diluted shares, weighted
41m
41m
39m
+0.9%
Shares outstanding at period end
41m
41m
38m
+0.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
475
464
390
+2.3%
Debt
0.0
13.7
0.0
Other liabilities
210
175
149
+19.9%
Total liabilities and equity
685
653
538
+4.8%
Fixed assets
9.8
34.9
39.5
-72.0%
Goodwill
43.9
14.2
60.4
+208.7%
Intangible assets
40.3
19.4
46.2
+107.7%
Cash and equivalents
121
127
147
-4.8%
Receivables
79.1
126
83.9
-37.2%
Inventory
46.1
110
81.5
-58.0%
Other assets
344
221
80.1
+55.4%
Total assets
685
653
538
+4.8%
10-K for the year ended 31 December 2014, filed 26 February 2015: the filing.