Avista (AVA) FY2013 results: revenue $1.4 billion, up 3.6% on the year
Avista Corp. (AVA) reported revenue of $1.4 billion for fiscal 2013, the year ended 31 December 2013, up 3.6% on the year before. Net income was $111 million, up 42.0%, and diluted earnings per share $1.85. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2014.
Revenue
$1.4 billion
+3.6% on the year
FY2008FY2013
Operating margin
16.0%
13.4% a year earlier
FY2008FY2013
Net income
$111 million
+42.0% on the year
FY2008FY2013
Diluted EPS
$1.85
+40.2% 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
1,442
1,391
1,620
+3.6%
Operating income
231
187
228
+23.5%
Operating margin
16.0%
13.4%
14.1%
Interest expense
77.1
75.1
73.9
+2.7%
Pre-tax income
162
117
160
+39.3%
Income tax
58.0
39.8
56.6
+45.9%
Effective tax rate
35.7%
34.1%
35.4%
Net income
111
78.2
100
+42.0%
Net margin
7.7%
5.6%
6.2%
Diluted EPS
$1.85
$1.32
$1.72
+40.2%
$ 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
243
317
269
-23.4%
Capital expenditure
294
271
240
+8.5%
Free cash flow
-51.8
45.4
29.7
Free cash flow margin
-3.6%
3.3%
1.8%
Cash from investing
-312
-295
-282
Cash from financing
76.8
-21.1
18.1
Depreciation and amortisation
133
126
114
+5.4%
Share-based compensation
6.2
5.8
5.8
+7.4%
Buybacks
0.0
0.0
n/a
Dividends paid
73.3
68.6
63.7
+6.9%
Dividend per share
$1.22
$1.16
$1.10
+5.2%
Diluted shares, weighted
60m
59m
58m
+1.3%
Shares outstanding at period end
60m
60m
58m
+0.4%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,318
1,277
1,186
+3.2%
Non-controlling interest
20.0
17.7
0.2
+13.3%
Redeemable equity
15.9
4.9
51.8
+221.8%
Debt
1,559
1,419
1,371
+9.9%
Other liabilities
1,098
1,594
1,605
-31.1%
Total liabilities and equity
4,012
4,313
4,215
-7.0%
Goodwill
76.3
76.0
39.0
+0.4%
Intangible assets
39.6
46.3
34.6
-14.4%
Cash and equivalents
82.6
75.5
74.7
+9.4%
Inventory
44.9
47.5
52.0
-5.3%
Other assets
3,768
4,068
4,014
-7.4%
Total assets
4,012
4,313
4,215
-7.0%
10-K for the year ended 31 December 2013, filed 26 February 2014: the filing.