Biomarin Pharmaceutical (BMRN) FY2013 results: revenue $548 million, up 9.5% on the year
Biomarin Pharmaceutical Inc. (BMRN) reported revenue of $548 million for fiscal 2013, the year ended 31 December 2013, up 9.5% on the year before. Net income was -$176 million, and diluted earnings per share $-1.28. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2014.
Revenue
$548 million
+9.5% on the year
FY2008FY2013
Operating margin
-28.4%
-22.0% a year earlier
FY2008FY2013
Net income
-$176 million
FY2008FY2013
Diluted EPS
-$1.28
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
548
501
441
+9.5%
Cost of revenue
88.4
91.8
84.0
-3.7%
Gross profit
460
409
357
+12.5%
Gross margin
83.9%
81.7%
81.0%
Research and development
355
302
214
+17.4%
Selling, general and administrative
235
198
175
+18.8%
Operating income
-156
-110
-33.9
Operating margin
-28.4%
-22.0%
-7.7%
Interest expense
10.4
7.6
8.4
+36.8%
Pre-tax income
-177
-118
-43.6
Income tax
-0.1
-3.9
10.2
Net income
-176
-114
-53.8
Net margin
-32.2%
-22.8%
-12.2%
Diluted EPS
-$1.28
-$0.95
-$0.48
$ 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
-59.6
17.6
18.4
Capital expenditure
65.1
44.6
73.2
+46.1%
Free cash flow
-125
-27.0
-54.8
Free cash flow margin
-22.7%
-5.4%
-12.4%
Cash from investing
-299
-196
-89.6
Cash from financing
747
312
29.3
+139.1%
Depreciation and amortisation
36.0
44.3
35.0
-18.8%
Share-based compensation
64.4
47.3
43.9
+36.0%
Diluted shares, weighted
n/a
120m
112m
Shares outstanding at period end
143m
126m
115m
+14.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,341
1,016
773
+32.0%
Debt
656
348
348
+88.3%
Other liabilities
247
204
182
+21.1%
Total liabilities and equity
2,244
1,568
1,304
+43.1%
Fixed assets
319
284
269
+12.2%
Goodwill
54.3
51.5
51.5
+5.3%
Intangible assets
163
163
180
+0.1%
Investments
484
383
243
+26.2%
Cash and equivalents
569
181
46.3
+215.1%
Receivables
118
109
105
+8.0%
Inventory
163
129
130
+26.3%
Other assets
374
268
278
+39.8%
Total assets
2,244
1,568
1,304
+43.1%
10-K for the year ended 31 December 2013, filed 26 February 2014: the filing.