Avista (AVA) FY2017 results: revenue $1.4 billion, up 0.2% on the year
Avista Corp. (AVA) reported revenue of $1.4 billion for fiscal 2017, the year ended 31 December 2017, up 0.2% on the year before. Net income was $116 million, down 15.5%, and diluted earnings per share $1.79. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2018.
Revenue
$1.4 billion
+0.2% on the year
FY2010FY2017
Operating margin
20.2%
20.8% a year earlier
FY2010FY2017
Net income
$116 million
-15.5% on the year
FY2010FY2017
Diluted EPS
$1.79
-16.7% 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
1,446
1,442
1,485
+0.2%
Operating income
292
300
253
-2.6%
Operating margin
20.2%
20.8%
17.1%
Interest expense
95.4
86.5
80.0
+10.2%
Pre-tax income
199
215
186
-7.8%
Income tax
82.8
78.1
67.4
+6.0%
Effective tax rate
41.7%
36.3%
36.3%
Net income
116
137
123
-15.5%
Net margin
8.0%
9.5%
8.3%
Diluted EPS
$1.79
$2.15
$1.97
-16.7%
$ 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
410
358
376
+14.5%
Capital expenditure
412
407
393
+1.4%
Free cash flow
-2.0
-48.4
-17.8
Free cash flow margin
-0.1%
-3.4%
-1.2%
Cash from investing
-434
-432
-388
Cash from financing
31.5
72.2
0.5
-56.4%
Depreciation and amortisation
176
165
148
+6.5%
Share-based compensation
7.4
7.9
6.9
-6.7%
Buybacks
0.0
0.0
2.9
Dividends paid
92.5
87.2
82.4
+6.1%
Dividend per share
$1.43
$1.37
$1.32
+4.4%
Diluted shares, weighted
65m
64m
63m
+1.4%
Shares outstanding at period end
65m
64m
62m
+2.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,730
1,648
1,528
+4.9%
Non-controlling interest
0.7
-0.3
0.3
Debt
1,926
1,854
1,730
+3.9%
Other liabilities
1,858
1,808
1,648
+2.8%
Total liabilities and equity
5,515
5,310
4,907
+3.9%
Goodwill
57.7
57.7
57.7
0.0%
Cash and equivalents
16.2
8.5
10.5
+90.1%
Inventory
58.1
53.3
54.1
+8.9%
Other assets
5,383
5,190
4,784
+3.7%
Total assets
5,515
5,310
4,907
+3.9%
10-K for the year ended 31 December 2017, filed 21 February 2018: the filing.