Align Technology (ALGN) FY2014 results: revenue $762 million, up 15.4% on the year
Align Technology Inc. (ALGN) reported revenue of $762 million for fiscal 2014, the year ended 31 December 2014, up 15.4% on the year before. Net income was $146 million, up 126.8%, and diluted earnings per share $1.77. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2015.
Revenue
$762 million
+15.4% on the year
FY2008FY2014
Operating margin
25.4%
14.3% a year earlier
FY2008FY2014
Net income
$146 million
+126.8% on the year
FY2008FY2014
Diluted EPS
$1.77
+126.9% on the year
FY2008FY2014
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
762
660
560
+15.4%
Cost of revenue
183
162
144
+13.0%
Gross profit
578
498
416
+16.1%
Gross margin
75.9%
75.4%
74.3%
Research and development
52.8
44.1
42.9
+19.8%
Selling, general and administrative
332
293
n/a
+13.4%
Operating income
194
94.2
85.6
+105.5%
Operating margin
25.4%
14.3%
15.3%
Pre-tax income
190
93.1
84.3
+104.4%
Income tax
44.5
28.8
25.6
+54.4%
Effective tax rate
23.4%
31.0%
30.4%
Net income
146
64.3
58.7
+126.8%
Net margin
19.1%
9.7%
10.5%
Diluted EPS
$1.77
$0.78
$0.71
+126.9%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
227
186
134
+22.0%
Capital expenditure
24.1
19.4
38.3
+24.1%
Free cash flow
203
167
95.4
+21.8%
Free cash flow margin
26.6%
25.2%
17.0%
Cash from investing
-202
-211
-78.3
Cash from financing
-66.4
-38.2
10.2
Depreciation and amortisation
17.9
16.8
17.8
+6.1%
Share-based compensation
39.8
26.4
21.5
+50.6%
Buybacks
98.2
95.1
47.2
+3.3%
Diluted shares, weighted
82m
83m
83m
-0.4%
Shares outstanding at period end
80m
81m
81m
-0.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
753
634
581
+18.7%
Debt
0.0
0.0
0.0
Other liabilities
235
198
175
+18.7%
Total liabilities and equity
988
832
756
+18.7%
Fixed assets
90.1
75.7
79.2
+19.0%
Goodwill
61.4
61.6
99.2
-0.4%
Intangible assets
20.7
23.7
45.8
-12.9%
Investments
403
229
49.7
+75.8%
Cash and equivalents
200
243
306
-17.7%
Receivables
130
113
99.0
+14.6%
Inventory
15.9
14.0
15.1
+14.0%
Other assets
67.6
71.9
61.9
-5.9%
Total assets
988
832
756
+18.7%
10-K for the year ended 31 December 2014, filed 26 February 2015: the filing.