Haemonetics (HAE) FY2013 results: revenue $892 million, up 22.6% on the year
Haemonetics Corp. (HAE) reported revenue of $892 million for fiscal 2013, the year ended 30 March 2013, up 22.6% on the year before. Net income was $39 million, down 42.0%, and diluted earnings per share $0.74. The figures are the company's own, from the 10-K it filed with the SEC on 20 May 2013.
Revenue
$892 million
+22.6% on the year
FY2009FY2013
Operating margin
6.3%
12.2% a year earlier
FY2009FY2013
Net income
$39 million
-42.0% on the year
FY2009FY2013
Diluted EPS
$0.74
-42.9% 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
892
728
677
+22.6%
Cost of revenue
464
359
321
+29.4%
Gross profit
428
369
355
+15.9%
Gross margin
48.0%
50.7%
52.5%
Research and development
44.4
36.8
32.7
+20.6%
Selling, general and administrative
323
244
214
+32.6%
Operating income
56.4
88.8
111
-36.4%
Operating margin
6.3%
12.2%
16.3%
Interest expense
n/a
n/a
0.0
Pre-tax income
49.9
89.5
110
-44.2%
Income tax
11.1
22.6
30.1
-50.9%
Effective tax rate
22.2%
25.3%
27.3%
Net income
38.8
66.9
80.0
-42.0%
Net margin
4.3%
9.2%
11.8%
Diluted EPS
$0.74
$1.29
$1.56
-42.9%
$ 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
85.1
115
123
-26.2%
Capital expenditure
62.2
53.2
46.7
+16.9%
Free cash flow
22.9
62.1
76.8
-63.2%
Free cash flow margin
2.6%
8.5%
11.3%
Cash from investing
-596
-52.2
-51.6
Cash from financing
462
-30.5
-18.1
Depreciation and amortisation
65.5
50.0
48.1
+31.1%
Share-based compensation
11.0
9.3
10.8
+18.1%
Buybacks
50.0
50.0
50.0
+0.0%
Diluted shares, weighted
52m
52m
51m
+1.3%
Shares outstanding at period end
51m
51m
51m
+0.9%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
769
733
686
+5.0%
Short-term borrowings
5.6
n/a
n/a
Debt
480
3.8
4.9
+12,631.2%
Other liabilities
207
175
142
+18.5%
Total liabilities and equity
1,462
911
833
+60.5%
Fixed assets
257
162
156
+58.9%
Goodwill
330
115
115
+187.2%
Intangible assets
264
96.5
102
+173.8%
Cash and equivalents
179
229
197
-21.7%
Receivables
170
135
127
+25.6%
Inventory
184
117
84.4
+56.9%
Other assets
77.1
56.4
52.3
+36.7%
Total assets
1,462
911
833
+60.5%
10-K for the year ended 30 March 2013, filed 20 May 2013: the filing.