Andersons (ANDE) FY2013 results: revenue $5.6 billion, up 6.3% on the year
Andersons, Inc. (ANDE) reported revenue of $5.6 billion for fiscal 2013, the year ended 31 December 2013, up 6.3% on the year before. Net income was $90 million, up 13.2%, and diluted earnings per share $3.18. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$5.6 billion
+6.3% on the year
FY2008FY2013
Operating margin
1.5%
2.1% a year earlier
FY2008FY2013
Net income
$90 million
+13.2% on the year
FY2008FY2013
Diluted EPS
$3.18
+12.8% 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
5,605
5,272
4,576
+6.3%
Cost of revenue
5,239
4,914
4,223
+6.6%
Gross profit
365
358
353
+2.0%
Gross margin
6.5%
6.8%
7.7%
Research and development
n/a
1.0
0.8
Operating income
86.8
111
124
-21.9%
Operating margin
1.5%
2.1%
2.7%
Pre-tax income
150
120
148
+24.5%
Income tax
53.8
44.6
51.1
+20.7%
Effective tax rate
36.0%
37.1%
34.5%
Net income
89.9
79.5
95.1
+13.2%
Net margin
1.6%
1.5%
2.1%
Diluted EPS
$3.18
$2.82
$3.39
+12.8%
$ 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
337
328
290
+2.7%
Capital expenditure
46.8
69.3
44.2
-32.5%
Free cash flow
290
259
246
+12.0%
Free cash flow margin
5.2%
4.9%
5.4%
Cash from investing
-106
-291
-86.0
Cash from financing
-60.1
79.9
-213
Depreciation and amortisation
55.3
49.0
40.8
+12.9%
Share-based compensation
4.3
4.0
4.1
+8.7%
Buybacks
0.0
0.0
3.0
Dividends paid
12.0
11.2
8.2
+7.3%
Dividend per share
$0.43
$0.40
$0.32
+7.5%
Diluted shares, weighted
28m
28m
28m
+0.5%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
701
594
524
+18.0%
Non-controlling interest
22.9
17.0
14.8
+34.7%
Short-term borrowings
0.0
n/a
n/a
Debt
427
467
343
-8.4%
Other liabilities
1,122
1,104
853
+1.6%
Total liabilities and equity
2,274
2,182
1,734
+4.2%
Fixed assets
387
359
175
+8.0%
Goodwill
58.6
54.4
12.5
+7.7%
Intangible assets
19.5
26.1
10.1
-25.2%
Cash and equivalents
309
138
20.4
+123.6%
Inventory
615
777
760
-20.8%
Other assets
884
828
756
+6.8%
Total assets
2,274
2,182
1,734
+4.2%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.