Artivion (AORT) FY2019 results: revenue $276 million, up 5.1% on the year
Artivion, Inc. (AORT) reported revenue of $276 million for fiscal 2019, the year ended 31 December 2019, up 5.1% on the year before. Net income was $2 million, and diluted earnings per share $0.05. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2020.
Revenue
$276 million
+5.1% on the year
FY2012FY2019
Operating margin
6.2%
3.5% a year earlier
FY2012FY2019
Net income
$2 million
FY2012FY2019
Diluted EPS
$0.05
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
276
263
190
+5.1%
Cost of revenue
93.2
89.9
61.1
+3.7%
Gross profit
183
173
129
+5.8%
Gross margin
66.3%
65.8%
67.8%
Research and development
23.0
23.1
19.5
-0.6%
Selling, general and administrative
143
141
101
+1.7%
Operating income
17.0
9.3
8.0
+83.0%
Operating margin
6.2%
3.5%
4.2%
Interest expense
14.9
15.8
4.9
-5.7%
Pre-tax income
1.6
-6.4
3.6
Income tax
-0.1
-3.6
-0.1
Effective tax rate
-4.6%
n/a
-4.0%
Net income
1.7
-2.8
3.7
Net margin
0.6%
-1.1%
2.0%
Diluted EPS
$0.05
-$0.08
$0.11
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
15.8
9.9
10.8
+60.2%
Capital expenditure
8.1
5.8
6.6
+39.5%
Free cash flow
7.8
4.1
4.2
+89.4%
Free cash flow margin
2.8%
1.6%
2.2%
Cash from investing
-23.9
-6.7
-171
Cash from financing
-1.5
-2.6
143
Depreciation and amortisation
18.3
18.1
9.7
+1.2%
Share-based compensation
8.8
6.3
6.9
+39.1%
Dividend per share
$0.00
$0.00
$0.00
Diluted shares, weighted
38m
36m
34m
+4.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
286
275
277
+3.9%
Debt
216
217
219
-0.5%
Operating lease liabilities
17.9
0.0
n/a
Finance lease liabilities
5.4
5.9
n/a
-8.8%
Other liabilities
80.9
73.2
93.7
+10.5%
Total liabilities and equity
606
571
590
+6.1%
Fixed assets
32.1
31.0
33.6
+3.6%
Goodwill
187
189
188
-1.1%
Intangible assets
115
118
130
-2.3%
Cash and equivalents
33.8
41.5
40.0
-18.6%
Receivables
52.9
47.1
47.5
+12.4%
Inventory
53.1
45.5
46.7
+16.7%
Other assets
132
99.0
103
+32.9%
Total assets
606
571
590
+6.1%
10-K for the year ended 31 December 2019, filed 19 February 2020: the filing.