Crane Nxt (CXT) FY2013 results: revenue $2.6 billion, up 0.6% on the year
Crane Nxt, Co. (CXT) reported revenue of $2.6 billion for fiscal 2013, the year ended 31 December 2013, up 0.6% on the year before. Net income was $220 million, up 1.2%, and diluted earnings per share $3.73. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2014.
Revenue
$2.6 billion
+0.6% on the year
FY2008FY2013
Operating margin
13.4%
12.0% a year earlier
FY2008FY2013
Net income
$220 million
+1.2% on the year
FY2008FY2013
Diluted EPS
$3.73
+0.3% 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
2,595
2,579
2,500
+0.6%
Cost of revenue
1,712
1,710
1,653
+0.1%
Gross profit
884
869
847
+1.7%
Gross margin
34.0%
33.7%
33.9%
Research and development
52.7
66.9
64.2
-21.2%
Selling, general and administrative
536
540
539
-0.8%
Operating income
348
310
36.6
+12.1%
Operating margin
13.4%
12.0%
1.5%
Interest expense
26.5
26.8
26.3
-1.4%
Pre-tax income
326
285
14.8
+14.6%
Income tax
105
88.4
-8.1
+18.8%
Effective tax rate
32.2%
31.1%
-54.6%
Net income
220
217
26.3
+1.2%
Net margin
8.5%
8.4%
1.1%
Diluted EPS
$3.73
$3.72
$0.44
+0.3%
$ 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
239
235
150
+2.0%
Capital expenditure
29.5
29.3
34.7
+0.5%
Free cash flow
210
205
115
+2.2%
Free cash flow margin
8.1%
8.0%
4.6%
Cash from investing
-824
31.2
-65.5
Cash from financing
433
-95.3
-109
Depreciation and amortisation
54.8
57.3
62.9
-4.2%
Share-based compensation
22.8
17.3
15.0
+31.6%
Buybacks
0.0
50.0
80.0
Dividends paid
67.3
62.0
57.0
+8.5%
Diluted shares, weighted
59m
58m
59m
+0.9%
Shares outstanding at period end
58m
57m
58m
+1.9%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,204
918
814
+31.1%
Non-controlling interest
10.4
9.0
8.5
+15.1%
Debt
875
400
400
+118.6%
Other liabilities
1,470
1,562
1,621
-5.9%
Total liabilities and equity
3,560
2,890
2,844
+23.2%
Fixed assets
305
268
284
+13.7%
Goodwill
1,249
814
821
+53.5%
Intangible assets
409
126
146
+224.8%
Cash and equivalents
271
424
245
-36.2%
Receivables
438
333
349
+31.3%
Inventory
369
353
361
+4.6%
Other assets
519
572
637
-9.2%
Total assets
3,560
2,890
2,844
+23.2%
10-K for the year ended 31 December 2013, filed 25 February 2014: the filing.