Cerus (CERS) FY2017 results: revenue $51 million, up 30.7% on the year

Cerus Corp. (CERS) reported revenue of $51 million for fiscal 2017, the year ended 31 December 2017, up 30.7% on the year before. Net income was -$61 million, and diluted earnings per share $-0.56. The figures are the company's own, from the 10-K it filed with the SEC on 8 March 2018.

Revenue

$51 million

+30.7% on the year

FY2010FY2017

Operating margin

-112.1%

-156.5% a year earlier

FY2010FY2017

Net income

-$61 million

FY2010FY2017

Diluted EPS

-$0.56

FY2010FY2017

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2017 · Q2 FY2017 · Q3 FY2017 · Q4 FY2017

Income statement (profit and loss)

$ million	FY2017	FY2016	FY2015	On the year
Revenue	51.3	39.3	34.2	+30.7%
Cost of revenue	22.5	20.3	23.5	+11.0%
Gross profit	28.8	16.9	10.8	+70.5%
Gross margin	56.1%	43.0%	31.4%
Research and development	33.7	31.3	25.6	+7.6%
Selling, general and administrative	52.6	49.0	46.0	+7.5%
Operating income	-57.5	-61.4	-61.1
Operating margin	-112.1%	-156.5%	-178.5%
Interest expense	3.0	2.4	1.7	+23.6%
Pre-tax income	-56.7	-62.7	-59.5
Income tax	3.9	0.2	-3.7	+2,121.1%
Net income	-60.6	-62.9	-55.9
Net margin	-118.0%	-160.2%	-163.2%
Diluted EPS	-$0.56	-$0.62	-$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	FY2017	FY2016	FY2015	On the year
Operating cash flow	-52.2	-53.5	-51.1
Capital expenditure	0.4	0.6	0.7	-37.3%
Free cash flow	-52.6	-54.1	-51.9
Free cash flow margin	-102.5%	-137.7%	-151.5%
Cash from investing	0.4	-19.9	n/a
Cash from financing	43.0	24.6	n/a	+75.0%
Depreciation and amortisation	1.8	1.8	1.7	-0.3%
Share-based compensation	9.4	8.1	6.7	+16.0%
Diluted shares, weighted	108m	102m	97m	+6.3%
Shares outstanding at period end	103m	99m	99m	+4.4%

Balance sheet

$ million	FY2017	FY2016	FY2015	On the year
Shareholders' equity	38.9	57.8	94.8	-32.6%
Debt	30.0	19.5	20.0	+53.9%
Other liabilities	29.3	26.2	24.7	+11.9%
Total liabilities and equity	98.2	103	139	-5.1%
Fixed assets	2.1	3.0	3.5	-29.0%
Goodwill	1.3	1.3	1.3	0.0%
Intangible assets	0.5	0.7	0.9	-27.4%
Investments	47.0	45.1	25.7	+4.2%
Cash and equivalents	13.7	22.6	71.0	-39.3%
Receivables	12.4	6.9	5.8	+80.8%
Inventory	14.5	12.5	10.8	+15.4%
Other assets	6.7	11.4	20.3	-41.0%
Total assets	98.2	103	139	-5.1%

10-K for the year ended 31 December 2017, filed 8 March 2018: the filing.