Cognex (CGNX) FY2013 results: revenue $308 million, down 5.1% on the year
Cognex Corp. (CGNX) reported revenue of $308 million for fiscal 2013, the year ended 31 December 2013, down 5.1% on the year before. Net income was $74 million, up 8.0%, and diluted earnings per share $0.41. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2014.
Revenue
$308 million
-5.1% on the year
FY2008FY2013
Operating margin
25.0%
25.7% a year earlier
FY2008FY2013
Net income
$74 million
+8.0% on the year
FY2008FY2013
Diluted EPS
$0.41
+6.4% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
308
324
322
-5.1%
Cost of revenue
62.9
79.5
77.9
-20.9%
Gross profit
245
245
244
-0.0%
Gross margin
79.6%
75.5%
75.8%
Research and development
44.3
41.5
40.9
+6.7%
Selling, general and administrative
124
120
118
+3.1%
Operating income
76.9
83.4
85.4
-7.8%
Operating margin
25.0%
25.7%
26.5%
Pre-tax income
78.5
86.6
87.1
-9.4%
Income tax
11.3
18.5
17.2
-39.2%
Effective tax rate
14.4%
21.4%
19.8%
Net income
73.6
68.1
69.9
+8.0%
Net margin
23.9%
21.0%
21.7%
Diluted EPS
$0.41
$0.39
$0.41
+6.4%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
95.5
101
86.3
-5.6%
Capital expenditure
9.6
9.9
7.8
-2.5%
Free cash flow
85.8
91.3
78.5
-5.9%
Free cash flow margin
27.9%
28.1%
24.4%
Cash from investing
-88.1
-38.9
-90.2
Cash from financing
-12.5
-45.2
9.8
Depreciation and amortisation
11.1
10.9
9.8
+2.2%
Share-based compensation
10.6
8.5
8.1
+24.6%
Buybacks
47.9
0.0
10.0
Dividends paid
0.0
66.2
15.1
Dividend per share
$0.00
$0.39
$0.09
Diluted shares, weighted
178m
175m
171m
+1.9%
Shares outstanding at period end
174m
172m
169m
+0.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
644
572
553
+12.5%
Other liabilities
65.8
55.3
58.9
+18.9%
Total liabilities and equity
710
628
612
+13.1%
Fixed assets
37.1
34.8
31.7
+6.7%
Goodwill
81.7
81.7
82.0
0.0%
Intangible assets
14.7
14.8
18.9
-0.3%
Investments
414
343
319
+20.7%
Trading assets
1.4
n/a
n/a
Cash and equivalents
40.6
45.2
38.1
-10.0%
Receivables
53.0
42.4
48.2
+25.1%
Inventory
25.7
26.2
28.1
-1.9%
Other assets
40.9
39.2
45.5
+4.2%
Total assets
710
628
612
+13.1%
10-K for the year ended 31 December 2013, filed 13 February 2014: the filing.