Advanced Energy Industries (AEIS) FY2018 results: revenue $719 million, up 7.1% on the year
Advanced Energy Industries Inc. (AEIS) reported revenue of $719 million for fiscal 2018, the year ended 31 December 2018, up 7.1% on the year before. Net income was $147 million, up 6.6%, and diluted earnings per share $3.74. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$719 million
+7.1% on the year
FY2011FY2018
Operating margin
23.9%
29.9% a year earlier
FY2011FY2018
Net income
$147 million
+6.6% on the year
FY2011FY2018
Diluted EPS
$3.74
+9.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
719
671
484
+7.1%
Cost of revenue
353
315
231
+12.3%
Gross profit
366
356
253
+2.6%
Gross margin
50.9%
53.1%
52.3%
Research and development
76.0
58.0
44.4
+31.1%
Selling, general and administrative
108
93.3
77.7
+15.8%
Operating income
172
201
127
-14.6%
Operating margin
23.9%
29.9%
26.2%
Interest expense
0.2
0.1
n/a
+245.5%
Pre-tax income
172
198
128
-13.0%
Income tax
25.2
62.1
11.1
-59.4%
Effective tax rate
14.6%
31.3%
8.7%
Net income
147
138
127
+6.6%
Net margin
20.5%
20.5%
26.3%
Diluted EPS
$3.74
$3.43
$3.18
+9.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
151
183
119
-17.2%
Capital expenditure
20.3
9.0
6.8
+124.8%
Free cash flow
131
174
112
-24.6%
Free cash flow margin
18.2%
25.9%
23.3%
Cash from investing
-114
-28.1
0.3
Cash from financing
-97.1
-31.3
2.1
Depreciation and amortisation
13.6
9.4
7.8
+44.2%
Share-based compensation
9.7
12.5
6.3
-22.7%
Buybacks
95.1
30.0
0.0
+217.2%
Diluted shares, weighted
39m
40m
40m
-2.1%
Shares outstanding at period end
38m
40m
40m
-3.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
607
521
392
+16.5%
Non-controlling interest
0.5
0.0
n/a
Debt
0.0
0.0
0.0
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
209
213
179
-1.6%
Total liabilities and equity
816
733
572
+11.3%
Fixed assets
31.3
17.8
13.3
+75.7%
Goodwill
102
53.8
42.1
+89.4%
Intangible assets
54.9
33.5
28.1
+63.9%
Investments
2.5
3.1
n/a
-20.4%
Cash and equivalents
349
407
282
-14.2%
Receivables
n/a
87.4
75.7
Inventory
98.0
78.5
55.8
+24.9%
Other assets
179
51.9
74.6
+244.0%
Total assets
816
733
572
+11.3%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.