Avista (AVA) FY2016 results: revenue $1.4 billion, down 2.8% on the year
Avista Corp. (AVA) reported revenue of $1.4 billion for fiscal 2016, the year ended 31 December 2016, down 2.8% on the year before. Net income was $137 million, up 11.4%, and diluted earnings per share $2.15. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2017.
Revenue
$1.4 billion
-2.8% on the year
FY2009FY2016
Operating margin
20.8%
17.1% a year earlier
FY2009FY2016
Net income
$137 million
+11.4% on the year
FY2009FY2016
Diluted EPS
$2.15
+9.1% 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
1,442
1,485
1,473
-2.8%
Operating income
300
253
253
+18.4%
Operating margin
20.8%
17.1%
17.2%
Interest expense
86.5
80.0
75.3
+8.2%
Pre-tax income
215
186
192
+16.0%
Income tax
78.1
67.4
72.2
+15.8%
Effective tax rate
36.3%
36.3%
37.6%
Net income
137
123
192
+11.4%
Net margin
9.5%
8.3%
13.0%
Diluted EPS
$2.15
$1.97
$3.10
+9.1%
$ 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
358
376
267
-4.6%
Capital expenditure
407
393
326
+3.4%
Free cash flow
-48.4
-17.8
-58.2
Free cash flow margin
-3.4%
-1.2%
-4.0%
Cash from investing
-432
-388
-104
Cash from financing
72.2
0.5
-224
+13,578.4%
Depreciation and amortisation
165
148
138
+11.6%
Share-based compensation
7.9
6.9
8.1
+14.1%
Buybacks
0.0
2.9
79.9
Dividends paid
87.2
82.4
78.3
+5.8%
Dividend per share
$1.37
$1.32
$1.27
+3.8%
Diluted shares, weighted
64m
63m
62m
+1.9%
Shares outstanding at period end
64m
62m
62m
+3.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,648
1,528
1,483
+7.9%
Non-controlling interest
-0.3
0.3
0.4
Redeemable equity
n/a
n/a
0.0
Debt
1,854
1,730
1,645
+7.2%
Other liabilities
1,808
1,648
1,572
+9.7%
Total liabilities and equity
5,310
4,907
4,701
+8.2%
Goodwill
57.7
57.7
58.0
0.0%
Intangible assets
n/a
n/a
0.0
Cash and equivalents
8.5
10.5
22.1
-18.9%
Inventory
53.3
54.1
66.4
-1.5%
Other assets
5,190
4,784
4,554
+8.5%
Total assets
5,310
4,907
4,701
+8.2%
10-K for the year ended 31 December 2016, filed 22 February 2017: the filing.