Coherent (COHR) FY2014 results: revenue $683 million, up 24.0% on the year
Coherent Corp. (COHR) reported revenue of $683 million for fiscal 2014, the year ended 30 June 2014, up 24.0% on the year before. Net income was $38 million, down 24.3%, and diluted earnings per share $0.60. The figures are the company's own, from the 10-K it filed with the SEC on 28 August 2014.
Revenue
$683 million
+24.0% on the year
FY2009FY2014
Operating margin
6.8%
13.0% a year earlier
FY2009FY2014
Net income
$38 million
-24.3% on the year
FY2009FY2014
Diluted EPS
$0.60
-25.0% 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
683
551
516
+24.0%
Cost of revenue
457
348
315
+31.4%
Gross profit
227
204
201
+11.4%
Gross margin
33.2%
36.9%
39.0%
Research and development
42.5
22.7
21.4
+87.4%
Selling, general and administrative
138
109
98.4
+25.9%
Operating income
46.5
71.5
81.5
-35.0%
Operating margin
6.8%
13.0%
15.8%
Interest expense
4.5
1.2
0.2
+286.1%
Pre-tax income
45.6
77.5
88.5
-41.1%
Income tax
7.3
18.8
17.8
-61.0%
Effective tax rate
16.0%
24.2%
20.1%
Net income
38.4
50.8
60.3
-24.3%
Net margin
5.6%
9.2%
11.7%
Diluted EPS
$0.60
$0.80
$0.94
-25.0%
$ 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
95.5
108
88.1
-11.3%
Capital expenditure
29.2
25.2
42.8
+15.9%
Free cash flow
66.2
82.4
45.2
-19.6%
Free cash flow margin
9.7%
15.0%
8.8%
Cash from investing
-207
-145
-84.9
Cash from financing
99.1
85.8
-14.8
+15.5%
Depreciation and amortisation
53.1
40.8
34.5
+30.2%
Share-based compensation
12.3
12.0
11.6
+3.2%
Buybacks
20.0
20.0
5.0
-0.0%
Diluted shares, weighted
64m
64m
64m
-0.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
675
636
586
+6.1%
Non-controlling interest
n/a
n/a
1.4
Redeemable equity
n/a
n/a
5.2
Debt
242
114
12.8
+112.2%
Other liabilities
155
114
101
+36.3%
Total liabilities and equity
1,072
864
706
+24.1%
Fixed assets
209
171
154
+22.4%
Goodwill
196
123
80.7
+59.0%
Intangible assets
136
86.7
44.0
+57.3%
Cash and equivalents
175
185
135
-5.8%
Receivables
137
107
105
+27.6%
Inventory
166
142
138
+16.9%
Other assets
53.2
48.6
50.5
+9.4%
Total assets
1,072
864
706
+24.1%
10-K for the year ended 30 June 2014, filed 28 August 2014: the filing.