DXP Enterprises (DXPE) FY2014 results: revenue $1.5 billion, up 20.8% on the year
DXP Enterprises Inc. (DXPE) reported revenue of $1.5 billion for fiscal 2014, the year ended 31 December 2014, up 20.8% on the year before. Net income was -$45 million, and diluted earnings per share $-3.10. The figures are the company's own, from the 10-K it filed with the SEC on 16 March 2015.
Revenue
$1.5 billion
+20.8% on the year
FY2009FY2014
Operating margin
-0.8%
8.1% a year earlier
FY2009FY2014
Net income
-$45 million
FY2009FY2014
Diluted EPS
-$3.10
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
1,500
1,242
1,097
+20.8%
Cost of revenue
1,067
869
778
+22.7%
Gross profit
433
372
319
+16.2%
Gross margin
28.9%
30.0%
29.1%
Selling, general and administrative
328
271
229
+20.8%
Operating income
-12.6
101
90.5
Operating margin
-0.8%
8.1%
8.3%
Interest expense
12.8
6.3
5.6
+103.7%
Pre-tax income
-25.6
94.7
85.0
Income tax
19.7
34.5
34.0
-42.9%
Effective tax rate
n/a
36.4%
40.0%
Net income
-45.2
60.2
51.0
Net margin
-3.0%
4.9%
4.6%
Diluted EPS
-$3.10
$3.94
$3.35
$ 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
100
82.2
51.2
+22.3%
Capital expenditure
11.1
7.7
14.1
+43.4%
Free cash flow
89.4
74.5
37.1
+20.1%
Free cash flow margin
6.0%
6.0%
3.4%
Cash from investing
n/a
-69.0
-159
Cash from financing
n/a
-18.6
117
Depreciation and amortisation
35.1
21.7
-18.1
+61.9%
Share-based compensation
3.6
2.8
-2.0
+25.7%
Dividends paid
0.1
0.1
0.1
0.0%
Diluted shares, weighted
15m
15m
15m
-4.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
243
296
208
-18.0%
Non-controlling interest
0.0
n/a
n/a
Debt
409
195
238
+110.1%
Other liabilities
190
146
123
+30.2%
Total liabilities and equity
842
637
570
+32.2%
Fixed assets
70.0
58.3
58.7
+20.1%
Goodwill
253
188
146
+34.7%
Intangible assets
130
69.7
63.2
+86.9%
Cash and equivalents
0.0
5.5
10.5
-99.1%
Receivables
239
187
175
+28.0%
Inventory
116
105
101
+9.9%
Other assets
33.1
22.9
15.3
+44.2%
Total assets
842
637
570
+32.2%
10-K for the year ended 31 December 2014, filed 16 March 2015: the filing.