Cerus (CERS) FY2016 results: revenue $39 million, up 14.8% on the year

Cerus Corp. (CERS) reported revenue of $39 million for fiscal 2016, the year ended 31 December 2016, up 14.8% on the year before. Net income was -$63 million, and diluted earnings per share $-0.62. The figures are the company's own, from the 10-K it filed with the SEC on 8 March 2017.

Revenue

$39 million

+14.8% on the year

FY2009FY2016

Operating margin

-156.5%

-178.5% a year earlier

FY2009FY2016

Net income

-$63 million

FY2009FY2016

Diluted EPS

-$0.62

FY2009FY2016

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2016 · Q2 FY2016 · Q3 FY2016 · Q4 FY2016

Income statement (profit and loss)

$ million	FY2016	FY2015	FY2014	On the year
Revenue	39.3	34.2	36.4	+14.8%
Cost of revenue	20.3	23.5	21.2	-13.5%
Gross profit	16.9	10.8	15.2	+57.0%
Gross margin	43.0%	31.4%	41.8%
Research and development	31.3	25.6	21.8	+22.1%
Selling, general and administrative	49.0	46.0	37.7	+6.4%
Operating income	-61.4	-61.1	-44.5
Operating margin	-156.5%	-178.5%	-122.2%
Interest expense	2.4	1.7	0.6	+43.4%
Pre-tax income	-62.7	-59.5	-38.6
Income tax	0.2	-3.7	0.2
Net income	-62.9	-55.9	-38.8
Net margin	-160.2%	-163.2%	-106.4%
Diluted EPS	-$0.62	-$0.61	-$0.61

$ 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	FY2016	FY2015	FY2014	On the year
Operating cash flow	-53.5	-51.1	-39.8
Capital expenditure	0.6	0.7	2.1	-22.0%
Free cash flow	-54.1	-51.9	-41.9
Free cash flow margin	-137.7%	-151.5%	-115.1%
Cash from investing	-19.9	n/a	n/a
Cash from financing	24.6	n/a	n/a
Depreciation and amortisation	1.8	1.7	1.4	+6.9%
Share-based compensation	8.1	6.7	5.2	+19.8%
Diluted shares, weighted	102m	97m	77m	+5.1%
Shares outstanding at period end	99m	99m	80m	0.0%

Balance sheet

$ million	FY2016	FY2015	FY2014	On the year
Shareholders' equity	57.8	94.8	41.5	-39.0%
Debt	19.5	20.0	10.0	-2.5%
Other liabilities	26.2	24.7	30.3	+6.0%
Total liabilities and equity	103	139	81.8	-25.8%
Fixed assets	3.0	3.5	3.8	-15.9%
Goodwill	1.3	1.3	1.3	0.0%
Intangible assets	0.7	0.9	1.1	-21.5%
Investments	45.1	25.7	28.5	+75.6%
Cash and equivalents	22.6	71.0	22.8	-68.2%
Receivables	6.9	5.8	5.5	+18.5%
Inventory	12.5	10.8	15.0	+15.9%
Other assets	11.4	20.3	3.8	-44.1%
Total assets	103	139	81.8	-25.8%

10-K for the year ended 31 December 2016, filed 8 March 2017: the filing.