Astec Industries (ASTE) FY2014 results: revenue $976 million, up 4.6% on the year
Astec Industries Inc. (ASTE) reported revenue of $976 million for fiscal 2014, the year ended 31 December 2014, up 4.6% on the year before. Net income was $34 million, down 11.7%, and diluted earnings per share $1.49. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$976 million
+4.6% on the year
FY2008FY2014
Operating margin
5.3%
6.0% a year earlier
FY2008FY2014
Net income
$34 million
-11.7% on the year
FY2008FY2014
Diluted EPS
$1.49
-11.8% 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
976
933
936
+4.6%
Cost of revenue
760
726
729
+4.7%
Gross profit
215
207
208
+4.0%
Gross margin
22.1%
22.2%
22.2%
Research and development
22.1
18.1
20.5
+22.3%
Operating income
51.7
55.7
51.1
-7.2%
Operating margin
5.3%
6.0%
5.5%
Interest expense
0.7
0.4
0.3
+70.2%
Pre-tax income
53.6
58.2
64.2
-8.0%
Income tax
19.4
19.0
19.5
+2.0%
Effective tax rate
36.2%
32.7%
30.4%
Net income
34.5
39.0
40.8
-11.7%
Net margin
3.5%
4.2%
4.4%
Diluted EPS
$1.49
$1.69
$1.77
-11.8%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
18.9
5.9
28.6
+221.8%
Capital expenditure
24.9
27.7
26.0
-10.2%
Free cash flow
-6.0
-21.8
2.6
Free cash flow margin
-0.6%
-2.3%
0.3%
Cash from investing
-42.8
-42.2
17.3
Cash from financing
2.4
-6.6
-22.5
Depreciation and amortisation
24.4
22.3
23.0
+9.5%
Share-based compensation
1.2
1.5
1.3
-17.9%
Dividends paid
9.2
6.9
22.8
+33.7%
Dividend per share
n/a
n/a
$1.00
Diluted shares, weighted
23m
23m
23m
+0.1%
Shares outstanding at period end
23m
23m
23m
+0.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
592
577
549
+2.6%
Non-controlling interest
4.2
3.6
1.6
+15.2%
Short-term borrowings
n/a
0.0
n/a
Debt
10.9
0.5
0.0
+2,037.6%
Other liabilities
195
168
178
+16.0%
Total liabilities and equity
802
749
729
+7.1%
Fixed assets
188
185
183
+1.7%
Goodwill
32.0
15.1
15.0
+112.5%
Intangible assets
17.3
6.5
7.8
+164.0%
Investments
13.3
29.3
11.6
-54.5%
Trading assets
13.3
29.3
11.6
-54.5%
Cash and equivalents
13.0
35.6
80.9
-63.4%
Receivables
106
92.1
85.6
+14.9%
Inventory
388
342
313
+13.3%
Other assets
32.2
14.7
20.8
+118.6%
Total assets
802
749
729
+7.1%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.