Align Technology (ALGN) FY2013 results: revenue $660 million, up 17.9% on the year
Align Technology Inc. (ALGN) reported revenue of $660 million for fiscal 2013, the year ended 31 December 2013, up 17.9% on the year before. Net income was $64 million, up 9.5%, and diluted earnings per share $0.78. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$660 million
+17.9% on the year
FY2008FY2013
Operating margin
14.3%
15.3% a year earlier
FY2008FY2013
Net income
$64 million
+9.5% on the year
FY2008FY2013
Diluted EPS
$0.78
+9.9% on the year
FY2008FY2013
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
660
560
480
+17.9%
Cost of revenue
162
144
118
+12.8%
Gross profit
498
416
361
+19.6%
Gross margin
75.4%
74.3%
75.3%
Research and development
44.1
42.9
37.2
+2.8%
Selling, general and administrative
293
n/a
n/a
Operating income
94.2
85.6
90.4
+10.1%
Operating margin
14.3%
15.3%
18.8%
Interest expense
n/a
n/a
0.1
Pre-tax income
93.1
84.3
89.9
+10.5%
Income tax
28.8
25.6
23.2
+12.6%
Effective tax rate
31.0%
30.4%
25.8%
Net income
64.3
58.7
66.7
+9.5%
Net margin
9.7%
10.5%
13.9%
Diluted EPS
$0.78
$0.71
$0.83
+9.9%
$ 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
186
134
130
+39.0%
Capital expenditure
19.4
38.3
30.4
-49.4%
Free cash flow
167
95.4
100
+74.5%
Free cash flow margin
25.2%
17.0%
20.9%
Cash from investing
-211
-78.3
-212
Cash from financing
-38.2
10.2
27.2
Depreciation and amortisation
16.8
17.8
12.1
-5.5%
Share-based compensation
26.4
21.5
19.2
+23.1%
Buybacks
95.1
47.2
7.8
+101.5%
Diluted shares, weighted
83m
83m
80m
-0.5%
Shares outstanding at period end
81m
81m
79m
-0.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
634
581
491
+9.1%
Debt
0.0
0.0
0.0
Other liabilities
198
175
158
+13.2%
Total liabilities and equity
832
756
649
+10.0%
Fixed assets
75.7
79.2
54.0
-4.4%
Goodwill
61.6
99.2
135
-37.9%
Intangible assets
23.7
45.8
50.0
-48.1%
Investments
229
49.7
7.4
+360.5%
Cash and equivalents
243
306
306
-20.7%
Receivables
113
99.0
91.5
+14.4%
Inventory
14.0
15.1
9.4
-7.6%
Other assets
71.9
61.9
n/a
+16.1%
Total assets
832
756
649
+10.0%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.