Astec Industries (ASTE) FY2017 results: revenue $1.2 billion, up 3.3% on the year
Astec Industries Inc. (ASTE) reported revenue of $1.2 billion for fiscal 2017, the year ended 31 December 2017, up 3.3% on the year before. Net income was $38 million, down 31.5%, and diluted earnings per share $1.63. The figures are the company's own, from the 10-K it filed with the SEC on 18 March 2019.
Revenue
$1.2 billion
+3.3% on the year
FY2010FY2017
Operating margin
4.7%
7.6% a year earlier
FY2010FY2017
Net income
$38 million
-31.5% on the year
FY2010FY2017
Diluted EPS
$1.63
-31.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,185
1,147
983
+3.3%
Cost of revenue
942
882
764
+6.7%
Gross profit
243
265
219
-8.3%
Gross margin
20.5%
23.1%
22.3%
Research and development
26.8
25.0
23.7
+7.4%
Selling, general and administrative
161
n/a
n/a
Operating income
55.5
87.2
50.0
-36.3%
Operating margin
4.7%
7.6%
5.1%
Interest expense
0.8
1.4
1.6
-39.8%
Pre-tax income
57.2
87.1
52.0
-34.3%
Income tax
19.6
32.1
20.0
-38.9%
Effective tax rate
34.3%
36.9%
38.5%
Net income
37.8
55.2
32.8
-31.5%
Net margin
3.2%
4.8%
3.3%
Diluted EPS
$1.63
$2.38
$1.42
-31.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
41.9
135
30.9
-68.9%
Capital expenditure
20.0
27.4
21.2
-26.8%
Free cash flow
21.8
107
9.7
-79.7%
Free cash flow margin
1.8%
9.4%
1.0%
Cash from investing
-46.9
-66.2
-10.6
Cash from financing
-16.8
-11.0
-6.1
Depreciation and amortisation
25.8
24.8
24.1
+4.0%
Share-based compensation
3.1
2.9
1.2
+7.0%
Buybacks
0.0
0.0
n/a
Dividends paid
9.2
9.2
9.2
+0.1%
Dividend per share
$0.40
$0.40
n/a
0.0%
Diluted shares, weighted
23m
23m
23m
+0.2%
Shares outstanding at period end
23m
23m
23m
+0.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
686
648
608
+5.8%
Non-controlling interest
1.1
1.0
1.8
+8.1%
Short-term borrowings
0.0
n/a
0.0
Debt
4.0
11.3
9.7
-64.2%
Other liabilities
199
183
158
+8.3%
Total liabilities and equity
890
844
777
+5.5%
Fixed assets
190
181
170
+5.5%
Goodwill
45.7
40.8
30.8
+12.1%
Intangible assets
31.0
26.6
13.6
+16.2%
Investments
16.2
15.0
13.1
+7.9%
Trading assets
16.2
15.0
13.1
+7.9%
Cash and equivalents
62.3
82.4
25.1
-24.4%
Receivables
115
107
98.9
+7.6%
Inventory
391
360
385
+8.6%
Other assets
21.7
16.2
27.9
+33.9%
Total assets
890
844
777
+5.5%
10-K for the year ended 31 December 2017, filed 18 March 2019: the filing.