Applied Materials (AMAT) FY2013 results: revenue $7.5 billion, down 13.9% on the year
Applied Materials Inc. (AMAT) reported revenue of $7.5 billion for fiscal 2013, the year ended 27 October 2013, down 13.9% on the year before. Net income was $256 million, up 134.9%, and diluted earnings per share $0.21. The figures are the company's own, from the 10-K it filed with the SEC on 4 December 2013.
Revenue
$7.5 billion
-13.9% on the year
FY2007FY2013
Operating margin
5.8%
4.7% a year earlier
FY2007FY2013
Net income
$256 million
+134.9% on the year
FY2007FY2013
Diluted EPS
$0.21
+133.3% on the year
FY2007FY2013
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
7,509
8,719
10,517
-13.9%
Cost of revenue
4,518
5,406
6,157
-16.4%
Gross profit
2,991
3,313
4,360
-9.7%
Gross margin
39.8%
38.0%
41.5%
Research and development
1,320
1,237
1,118
+6.7%
Selling, general and administrative
n/a
1,076
901
Operating income
432
411
2,398
+5.1%
Operating margin
5.8%
4.7%
22.8%
Interest expense
95.0
95.0
59.0
0.0%
Pre-tax income
350
316
2,378
+10.8%
Income tax
94.0
207
452
-54.6%
Effective tax rate
26.9%
65.5%
19.0%
Net income
256
109
1,926
+134.9%
Net margin
3.4%
1.3%
18.3%
Diluted EPS
$0.21
$0.09
$1.45
+133.3%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
623
1,851
2,426
-66.3%
Capital expenditure
197
162
209
+21.6%
Free cash flow
426
1,689
2,217
-74.8%
Free cash flow margin
5.7%
19.4%
21.1%
Cash from investing
215
-4,660
707
Cash from financing
-519
-1,754
960
Depreciation and amortisation
410
422
246
-2.8%
Share-based compensation
162
182
146
-11.0%
Buybacks
245
1,416
468
-82.7%
Dividends paid
456
434
397
+5.1%
Diluted shares, weighted
1,219m
1,277m
1,330m
-4.5%
Shares outstanding at period end
1,204m
1,197m
1,306m
+0.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
7,088
7,235
8,800
-2.0%
Debt
1,946
1,946
1,947
0.0%
Other liabilities
3,009
2,921
3,114
+3.0%
Total liabilities and equity
12,043
12,102
13,861
-0.5%
Fixed assets
850
910
866
-6.6%
Goodwill
3,294
3,518
1,335
-6.4%
Intangible assets
1,103
1,355
211
-18.6%
Investments
1,185
1,600
1,214
-25.9%
Cash and equivalents
1,711
1,392
5,960
+22.9%
Receivables
1,633
1,220
1,532
+33.9%
Inventory
1,413
1,272
1,701
+11.1%
Other assets
854
835
1,042
+2.3%
Total assets
12,043
12,102
13,861
-0.5%
10-K for the year ended 27 October 2013, filed 4 December 2013: the filing.