Haemonetics (HAE) FY2014 results: revenue $939 million, up 5.2% on the year
Haemonetics Corp. (HAE) reported revenue of $939 million for fiscal 2014, the year ended 29 March 2014, up 5.2% on the year before. Net income was $35 million, down 9.4%, and diluted earnings per share $0.67. The figures are the company's own, from the 10-K it filed with the SEC on 22 May 2014.
Revenue
$939 million
+5.2% on the year
FY2009FY2014
Operating margin
4.9%
6.3% a year earlier
FY2009FY2014
Net income
$35 million
-9.4% on the year
FY2009FY2014
Diluted EPS
$0.67
-9.5% on the year
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
939
892
728
+5.2%
Cost of revenue
470
464
359
+1.4%
Gross profit
468
428
369
+9.4%
Gross margin
49.9%
48.0%
50.7%
Research and development
54.2
44.4
36.8
+22.1%
Selling, general and administrative
366
323
244
+13.3%
Operating income
46.4
56.4
88.8
-17.7%
Operating margin
4.9%
6.3%
12.2%
Pre-tax income
36.4
49.9
89.5
-27.0%
Income tax
1.3
11.1
22.6
-88.7%
Effective tax rate
3.4%
22.2%
25.3%
Net income
35.1
38.8
66.9
-9.4%
Net margin
3.7%
4.3%
9.2%
Diluted EPS
$0.67
$0.74
$1.29
-9.5%
$ 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
140
85.1
115
+64.0%
Capital expenditure
73.6
62.2
53.2
+18.4%
Free cash flow
65.9
22.9
62.1
+187.8%
Free cash flow margin
7.0%
2.6%
8.5%
Cash from investing
-106
-596
-52.2
Cash from financing
-20.7
462
-30.5
Depreciation and amortisation
81.7
65.5
50.0
+24.8%
Share-based compensation
13.1
11.0
9.3
+19.3%
Buybacks
0.0
50.0
50.0
Diluted shares, weighted
52m
52m
52m
+0.2%
Shares outstanding at period end
52m
51m
51m
+2.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
838
769
733
+8.9%
Short-term borrowings
0.0
5.6
n/a
Debt
440
480
3.8
-8.3%
Other liabilities
236
207
175
+14.0%
Total liabilities and equity
1,514
1,462
911
+3.6%
Fixed assets
271
257
162
+5.6%
Goodwill
337
330
115
+1.9%
Intangible assets
271
264
96.5
+2.6%
Cash and equivalents
192
179
229
+7.5%
Receivables
165
170
135
-3.2%
Inventory
198
184
117
+7.6%
Other assets
80.1
77.1
56.4
+3.9%
Total assets
1,514
1,462
911
+3.6%
10-K for the year ended 29 March 2014, filed 22 May 2014: the filing.