Broadridge Financial Solutions (BR) FY2014 results: revenue $2.6 billion, up 5.2% on the year
Broadridge Financial Solutions, Inc. (BR) reported revenue of $2.6 billion for fiscal 2014, the year ended 30 June 2014, up 5.2% on the year before. Net income was $263 million, up 24.0%, and diluted earnings per share $2.12. The figures are the company's own, from the 10-K it filed with the SEC on 7 August 2014.
Revenue
$2.6 billion
+5.2% on the year
FY2009FY2014
Operating margin
15.5%
13.3% a year earlier
FY2009FY2014
Net income
$263 million
+24.0% on the year
FY2009FY2014
Diluted EPS
$2.12
+25.4% on the year
FY2009FY2014
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
2,558
2,431
2,304
+5.2%
Cost of revenue
1,761
1,768
1,715
-0.4%
Gross profit
797
663
271
+20.2%
Gross margin
31.1%
27.3%
11.8%
Selling, general and administrative
378
324
300
+16.9%
Operating income
396
323
201
+22.4%
Operating margin
15.5%
13.3%
8.7%
Pre-tax income
396
323
201
+22.4%
Income tax
132
111
75.9
+19.3%
Effective tax rate
33.5%
34.4%
37.8%
Net income
263
212
124
+24.0%
Net margin
10.3%
8.7%
5.4%
Diluted EPS
$2.12
$1.69
$0.97
+25.4%
$ 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
388
271
284
+43.1%
Capital expenditure
40.3
38.2
33.8
+5.5%
Free cash flow
347
233
250
+49.3%
Free cash flow margin
13.6%
9.6%
10.9%
Depreciation and amortisation
46.8
47.6
51.0
-1.7%
Share-based compensation
34.6
27.1
28.3
+27.7%
Buybacks
130
238
51.6
-45.6%
Dividends paid
96.7
85.8
78.1
+12.7%
Dividend per share
$0.84
$0.72
$0.64
+16.7%
Diluted shares, weighted
124m
125m
128m
-1.0%
Shares outstanding at period end
120m
119m
125m
+0.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
962
816
850
+17.9%
Debt
524
524
524
-0.1%
Other liabilities
706
678
613
+4.2%
Total liabilities and equity
2,192
2,018
1,988
+8.6%
Fixed assets
88.3
80.9
79.0
+9.1%
Goodwill
856
778
780
+10.0%
Intangible assets
130
121
143
+7.8%
Investments
25.3
20.9
12.6
+21.1%
Cash and equivalents
348
266
320
+30.7%
Inventory
6.7
8.4
8.6
-20.2%
Other assets
738
743
644
-0.7%
Total assets
2,192
2,018
1,988
+8.6%
10-K for the year ended 30 June 2014, filed 7 August 2014: the filing.