Cerus (CERS) FY2015 results: revenue $34 million, down 6.0% on the year

Cerus Corp. (CERS) reported revenue of $34 million for fiscal 2015, the year ended 31 December 2015, down 6.0% on the year before. Net income was -$56 million, and diluted earnings per share $-0.61. The figures are the company's own, from the 10-K it filed with the SEC on 8 March 2017.

Revenue

$34 million

-6.0% on the year

FY2009FY2015

Operating margin

-178.5%

-122.2% a year earlier

FY2009FY2015

Net income

-$56 million

FY2009FY2015

Diluted EPS

-$0.61

FY2009FY2015

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q4 FY2015

Income statement (profit and loss)

$ million	FY2015	FY2014	FY2013	On the year
Revenue	34.2	36.4	39.7	-6.0%
Cost of revenue	23.5	21.2	22.6	+10.7%
Gross profit	10.8	15.2	17.1	-29.3%
Gross margin	31.4%	41.8%	43.0%
Research and development	25.6	21.8	15.2	+17.6%
Selling, general and administrative	46.0	37.7	30.0	+21.9%
Operating income	-61.1	-44.5	-28.3
Operating margin	-178.5%	-122.2%	-71.4%
Interest expense	1.7	0.6	0.3	+184.6%
Pre-tax income	-59.5	-38.6	-43.1
Income tax	-3.7	0.2	0.2
Net income	-55.9	-38.8	-43.3
Net margin	-163.2%	-106.4%	-109.3%
Diluted EPS	-$0.61	-$0.61	-$0.64

$ million except per share.

Free 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	FY2015	FY2014	FY2013	On the year
Operating cash flow	-51.1	-39.8	-26.8
Capital expenditure	0.7	2.1	0.7	-65.7%
Free cash flow	-51.9	-41.9	-27.5
Free cash flow margin	-151.5%	-115.1%	-69.2%
Cash from investing	n/a	n/a	-29.1
Cash from financing	n/a	n/a	58.6
Depreciation and amortisation	1.7	1.4	0.7	+20.1%
Share-based compensation	6.7	5.2	3.3	+30.6%
Diluted shares, weighted	97m	77m	68m	+26.6%
Shares outstanding at period end	99m	80m	72m	+23.2%

Balance sheet

$ million	FY2015	FY2014	FY2013	On the year
Shareholders' equity	94.8	41.5	42.8	+128.2%
Debt	20.0	10.0	3.4	+100.0%
Other liabilities	24.7	30.3	37.2	-18.3%
Total liabilities and equity	139	81.8	83.4	+70.6%
Fixed assets	3.5	3.8	2.2	-6.1%
Goodwill	1.3	1.3	1.3	0.0%
Intangible assets	0.9	1.1	1.3	-17.7%
Investments	25.7	28.5	28.2	-9.9%
Cash and equivalents	71.0	22.8	29.5	+211.7%
Receivables	5.8	5.5	6.1	+5.5%
Inventory	10.8	15.0	13.1	-27.7%
Other assets	20.3	3.8	1.7	+436.2%
Total assets	139	81.8	83.4	+70.6%

10-K for the year ended 31 December 2015, filed 8 March 2017: the filing.