DXP Enterprises (DXPE) FY2013 results: revenue $1.2 billion, up 13.2% on the year
DXP Enterprises Inc. (DXPE) reported revenue of $1.2 billion for fiscal 2013, the year ended 31 December 2013, up 13.2% on the year before. Net income was $60 million, up 18.1%, and diluted earnings per share $3.94. The figures are the company's own, from the 10-K it filed with the SEC on 11 March 2014.
Revenue
$1.2 billion
+13.2% on the year
FY2009FY2013
Operating margin
8.1%
8.3% a year earlier
FY2009FY2013
Net income
$60 million
+18.1% on the year
FY2009FY2013
Diluted EPS
$3.94
+17.6% on the year
FY2009FY2013
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
1,242
1,097
807
+13.2%
Cost of revenue
869
778
575
+11.7%
Gross profit
372
319
232
+16.7%
Gross margin
30.0%
29.1%
28.7%
Selling, general and administrative
271
229
176
+18.7%
Operating income
101
90.5
55.5
+11.5%
Operating margin
8.1%
8.3%
6.9%
Interest expense
6.3
5.6
3.5
+13.0%
Pre-tax income
94.7
85.0
52.0
+11.4%
Income tax
34.5
34.0
20.6
+1.3%
Effective tax rate
36.4%
40.0%
39.5%
Net income
60.2
51.0
31.4
+18.1%
Net margin
4.9%
4.6%
3.9%
Diluted EPS
$3.94
$3.35
$2.08
+17.6%
$ 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
82.2
51.2
25.8
+60.5%
Capital expenditure
7.7
14.1
4.1
-45.1%
Free cash flow
74.5
37.1
21.7
+100.7%
Free cash flow margin
6.0%
3.4%
2.7%
Cash from investing
-69.0
-159
-24.1
Cash from financing
-18.6
117
-1.0
Depreciation and amortisation
21.7
-18.1
10.1
Share-based compensation
2.8
-2.0
1.3
Dividends paid
0.1
0.1
0.1
0.0%
Diluted shares, weighted
15m
15m
15m
+0.4%
Shares outstanding at period end
n/a
n/a
14m
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
296
208
157
+42.1%
Debt
195
238
115
-18.4%
Other liabilities
146
123
134
+18.7%
Total liabilities and equity
637
570
405
+11.7%
Fixed assets
58.3
58.7
16.9
-0.8%
Goodwill
188
146
102
+29.0%
Intangible assets
69.7
63.2
43.2
+10.3%
Cash and equivalents
5.5
10.5
1.5
-47.7%
Receivables
187
175
137
+6.9%
Inventory
105
101
93.9
+3.8%
Other assets
22.9
15.3
11.0
+49.6%
Total assets
637
570
405
+11.7%
10-K for the year ended 31 December 2013, filed 11 March 2014: the filing.