Artivion (AORT) FY2016 results: revenue $180 million, up 23.6% on the year
Artivion, Inc. (AORT) reported revenue of $180 million for fiscal 2016, the year ended 31 December 2016, up 23.6% on the year before. Net income was $11 million, up 169.1%, and diluted earnings per share $0.32. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2017.
Revenue
$180 million
+23.6% on the year
FY2009FY2016
Operating margin
12.1%
3.7% a year earlier
FY2009FY2016
Net income
$11 million
+169.1% on the year
FY2009FY2016
Diluted EPS
$0.32
+128.6% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
180
146
145
+23.6%
Cost of revenue
61.5
55.2
53.4
+11.4%
Gross profit
119
90.7
91.3
+31.1%
Gross margin
65.9%
62.2%
63.1%
Research and development
13.4
10.4
8.7
+28.8%
Selling, general and administrative
91.5
74.9
73.8
+22.2%
Operating income
21.8
5.4
8.8
+307.5%
Operating margin
12.1%
3.7%
6.1%
Interest expense
3.0
0.1
0.2
+4,738.7%
Pre-tax income
18.4
5.9
8.7
+213.8%
Income tax
7.6
1.9
1.4
+309.8%
Effective tax rate
41.5%
31.7%
15.9%
Net income
10.8
4.0
7.3
+169.1%
Net margin
6.0%
2.7%
5.1%
Diluted EPS
$0.32
$0.14
$0.25
+128.6%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
19.7
11.4
8.1
+72.3%
Capital expenditure
6.2
3.5
4.3
+77.6%
Free cash flow
13.5
8.0
3.8
+70.0%
Free cash flow margin
7.5%
5.5%
2.6%
Cash from investing
-78.9
-4.5
n/a
Cash from financing
73.4
-2.8
n/a
Depreciation and amortisation
8.4
5.9
6.0
+43.0%
Share-based compensation
6.3
5.1
3.4
+24.3%
Buybacks
n/a
n/a
5.6
Dividends paid
n/a
3.4
3.3
Dividend per share
$0.00
$0.12
$0.12
Diluted shares, weighted
33m
29m
28m
+15.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
209
155
149
+34.6%
Debt
71.6
0.0
0.0
Other liabilities
35.6
25.9
27.5
+37.2%
Total liabilities and equity
316
181
176
+74.5%
Fixed assets
18.5
11.5
12.0
+61.1%
Goodwill
78.3
11.4
11.4
+588.9%
Intangible assets
1.0
1.4
11.8
-28.9%
Cash and equivalents
56.6
37.6
33.4
+50.7%
Receivables
27.8
23.4
21.1
+18.6%
Inventory
26.3
14.6
12.7
+79.6%
Other assets
108
81.3
73.8
+32.4%
Total assets
316
181
176
+74.5%
10-K for the year ended 31 December 2016, filed 16 February 2017: the filing.