Gen Digital (GEN) FY2014 results: revenue $4.2 billion, down 39.4% on the year
Gen Digital Inc. (GEN) reported revenue of $4.2 billion for fiscal 2014, the year ended 28 March 2014, down 39.4% on the year before. Net income was $898 million, up 18.9%, and diluted earnings per share $1.28. The figures are the company's own, from the 10-K it filed with the SEC on 16 May 2014.
Revenue
$4.2 billion
-39.4% on the year
FY2008FY2014
Operating margin
3.4%
16.0% a year earlier
FY2008FY2014
Net income
$898 million
+18.9% on the year
FY2008FY2014
Diluted EPS
$1.28
+20.8% 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
4,183
6,906
6,730
-39.4%
Cost of revenue
791
1,175
1,082
-32.7%
Gross profit
3,392
5,731
5,648
-40.8%
Gross margin
81.1%
83.0%
83.9%
Research and development
722
1,026
969
-29.6%
Operating income
144
1,106
1,104
-87.0%
Operating margin
3.4%
16.0%
16.4%
Pre-tax income
107
1,006
n/a
-89.4%
Income tax
16.0
251
308
-93.6%
Effective tax rate
15.0%
25.0%
n/a
Net income
898
755
1,187
+18.9%
Net margin
21.5%
10.9%
17.6%
Diluted EPS
$1.28
$1.06
$1.59
+20.8%
$ 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
1,281
1,593
1,901
-19.6%
Capital expenditure
194
336
286
-42.3%
Free cash flow
1,087
1,257
1,615
-13.5%
Free cash flow margin
26.0%
18.2%
24.0%
Cash from investing
-583
-319
-318
Cash from financing
-1,712
308
-1,386
Depreciation and amortisation
367
638
656
-42.5%
Share-based compensation
105
164
164
-36.0%
Buybacks
500
826
893
-39.5%
Dividends paid
418
0.0
n/a
Dividend per share
$0.60
$0.00
n/a
Diluted shares, weighted
704m
711m
748m
-1.0%
Shares outstanding at period end
695m
698m
724m
-0.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
5,797
5,476
5,094
+5.9%
Non-controlling interest
n/a
n/a
78.0
Debt
2,100
3,100
2,039
-32.3%
Other liabilities
5,642
5,932
5,809
-4.9%
Total liabilities and equity
13,539
14,508
13,020
-6.7%
Fixed assets
1,116
1,122
1,100
-0.5%
Goodwill
3,151
5,841
5,826
-46.1%
Intangible assets
768
977
1,337
-21.4%
Investments
377
62.0
49.0
+508.1%
Cash and equivalents
3,695
4,685
3,162
-21.1%
Receivables
1,007
1,031
940
-2.3%
Inventory
14.0
24.0
28.0
-41.7%
Other assets
3,411
766
578
+345.3%
Total assets
13,539
14,508
13,020
-6.7%
10-K for the year ended 28 March 2014, filed 16 May 2014: the filing.