Biomarin Pharmaceutical (BMRN) FY2014 results: revenue $749 million, up 36.6% on the year
Biomarin Pharmaceutical Inc. (BMRN) reported revenue of $749 million for fiscal 2014, the year ended 31 December 2014, up 36.6% on the year before. Net income was -$134 million, and diluted earnings per share $-0.92. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$749 million
+36.6% on the year
FY2008FY2014
Operating margin
-12.4%
-28.4% a year earlier
FY2008FY2014
Net income
-$134 million
FY2008FY2014
Diluted EPS
-$0.92
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
749
548
501
+36.6%
Cost of revenue
122
88.4
91.8
+38.3%
Gross profit
627
460
409
+36.3%
Gross margin
83.7%
83.9%
81.7%
Research and development
462
355
302
+30.1%
Selling, general and administrative
302
235
198
+28.4%
Operating income
-92.9
-156
-110
Operating margin
-12.4%
-28.4%
-22.0%
Interest expense
36.6
10.4
7.6
+250.7%
Pre-tax income
-125
-177
-118
Income tax
9.1
-0.1
-3.9
Net income
-134
-176
-114
Net margin
-17.9%
-32.2%
-22.8%
Diluted EPS
-$0.92
-$1.28
-$0.95
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
n/a
-59.6
17.6
Capital expenditure
117
65.1
44.6
+79.8%
Free cash flow
n/a
-125
-27.0
Free cash flow margin
n/a
-22.7%
-5.4%
Cash from investing
n/a
-299
-196
Cash from financing
n/a
747
312
Depreciation and amortisation
45.9
36.0
44.3
+27.4%
Share-based compensation
86.4
64.4
47.3
+34.2%
Diluted shares, weighted
146m
n/a
120m
Shares outstanding at period end
149m
143m
126m
+3.9%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,528
1,341
1,016
+13.9%
Debt
643
656
348
-1.9%
Other liabilities
305
247
204
+23.1%
Total liabilities and equity
2,475
2,244
1,568
+10.3%
Fixed assets
524
319
284
+63.9%
Goodwill
54.3
54.3
51.5
0.0%
Intangible assets
157
163
163
-4.0%
Investments
168
484
383
-65.4%
Cash and equivalents
875
569
181
+53.9%
Receivables
144
118
109
+22.6%
Inventory
199
163
129
+22.7%
Other assets
354
374
268
-5.5%
Total assets
2,475
2,244
1,568
+10.3%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.