Crane Nxt (CXT) FY2014 results: revenue $2.9 billion, up 12.7% on the year
Crane Nxt, Co. (CXT) reported revenue of $2.9 billion for fiscal 2014, the year ended 31 December 2014, up 12.7% on the year before. Net income was $193 million, down 12.2%, and diluted earnings per share $3.23. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$2.9 billion
+12.7% on the year
FY2008FY2014
Operating margin
10.8%
13.4% a year earlier
FY2008FY2014
Net income
$193 million
-12.2% on the year
FY2008FY2014
Diluted EPS
$3.23
-13.4% on the year
FY2008FY2014
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
2,925
2,595
2,579
+12.7%
Cost of revenue
1,909
1,712
1,710
+11.5%
Gross profit
1,016
884
869
+15.0%
Gross margin
34.7%
34.0%
33.7%
Research and development
68.0
52.7
66.9
+29.0%
Selling, general and administrative
605
536
540
+13.0%
Operating income
316
348
310
-9.1%
Operating margin
10.8%
13.4%
12.0%
Interest expense
39.2
26.5
26.8
+48.2%
Pre-tax income
281
326
285
-13.8%
Income tax
87.6
105
88.4
-16.6%
Effective tax rate
31.2%
32.2%
31.1%
Net income
193
220
217
-12.2%
Net margin
6.6%
8.5%
8.4%
Diluted EPS
$3.23
$3.73
$3.72
-13.4%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
264
239
235
+10.2%
Capital expenditure
43.7
29.5
29.3
+48.4%
Free cash flow
220
210
205
+4.9%
Free cash flow margin
7.5%
8.1%
8.0%
Cash from investing
-25.8
-824
31.2
Cash from financing
-133
433
-95.3
Depreciation and amortisation
75.8
54.8
57.3
+38.2%
Share-based compensation
20.9
22.8
17.3
-8.3%
Buybacks
50.0
0.0
50.0
Dividends paid
73.9
67.3
62.0
+9.8%
Diluted shares, weighted
60m
59m
58m
+1.3%
Shares outstanding at period end
58m
58m
57m
-0.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,060
1,204
918
-12.0%
Non-controlling interest
10.8
10.4
9.0
+4.3%
Debt
850
875
400
-2.9%
Other liabilities
1,530
1,470
1,562
+4.1%
Total liabilities and equity
3,451
3,560
2,890
-3.1%
Fixed assets
290
305
268
-4.8%
Goodwill
1,191
1,249
814
-4.6%
Intangible assets
353
409
126
-13.6%
Cash and equivalents
364
271
424
+34.3%
Receivables
411
438
333
-6.1%
Inventory
370
369
353
+0.2%
Other assets
472
519
572
-9.2%
Total assets
3,451
3,560
2,890
-3.1%
10-K for the year ended 31 December 2014, filed 25 February 2015: the filing.