Advanced Energy Industries (AEIS) FY2017 results: revenue $671 million, up 38.7% on the year
Advanced Energy Industries Inc. (AEIS) reported revenue of $671 million for fiscal 2017, the year ended 31 December 2017, up 38.7% on the year before. Net income was $138 million, up 8.2%, and diluted earnings per share $3.43. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2018.
Revenue
$671 million
+38.7% on the year
FY2010FY2017
Operating margin
29.9%
26.2% a year earlier
FY2010FY2017
Net income
$138 million
+8.2% on the year
FY2010FY2017
Diluted EPS
$3.43
+7.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
671
484
415
+38.7%
Cost of revenue
315
231
198
+36.5%
Gross profit
356
253
217
+40.8%
Gross margin
53.1%
52.3%
52.3%
Research and development
58.0
44.4
39.6
+30.5%
Selling, general and administrative
93.3
77.7
66.1
+20.1%
Operating income
201
127
107
+58.3%
Operating margin
29.9%
26.2%
25.7%
Interest expense
0.1
n/a
n/a
Pre-tax income
198
128
105
+54.7%
Income tax
62.1
11.1
22.0
+458.0%
Effective tax rate
31.3%
8.7%
20.8%
Net income
138
127
-158
+8.2%
Net margin
20.5%
26.3%
-38.2%
Diluted EPS
$3.43
$3.18
-$3.89
+7.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
183
119
105
+53.2%
Capital expenditure
9.0
6.8
4.0
+32.6%
Free cash flow
174
112
101
+54.4%
Free cash flow margin
25.9%
23.3%
24.3%
Cash from investing
-28.1
0.3
-13.3
Cash from financing
-31.3
2.1
-45.5
Depreciation and amortisation
9.4
7.8
8.8
+20.6%
Share-based compensation
12.5
6.3
2.8
+98.2%
Buybacks
30.0
0.0
50.0
Diluted shares, weighted
40m
40m
41m
+0.4%
Shares outstanding at period end
40m
40m
40m
-0.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
521
392
264
+32.8%
Non-controlling interest
0.0
n/a
n/a
Debt
0.0
0.0
0.0
Other liabilities
213
179
199
+18.5%
Total liabilities and equity
733
572
463
+28.3%
Fixed assets
17.8
13.3
9.6
+33.4%
Goodwill
53.8
42.1
42.7
+27.7%
Intangible assets
33.5
28.1
34.1
+19.3%
Investments
3.1
n/a
n/a
Cash and equivalents
407
282
158
+44.5%
Receivables
87.4
75.7
55.0
+15.5%
Inventory
78.5
55.8
52.6
+40.7%
Other assets
51.9
74.6
110
-30.4%
Total assets
733
572
463
+28.3%
10-K for the year ended 31 December 2017, filed 15 February 2018: the filing.