Hasbro (HAS) FY2013 results: revenue $4.1 billion, down 0.2% on the year
Hasbro, Inc. (HAS) reported revenue of $4.1 billion for fiscal 2013, the year ended 29 December 2013, down 0.2% on the year before. Net income was $286 million, down 14.8%, and diluted earnings per share $2.17. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2014.
Revenue
$4.1 billion
-0.2% on the year
FY2008FY2013
Operating margin
11.4%
13.5% a year earlier
FY2008FY2013
Net income
$286 million
-14.8% on the year
FY2008FY2013
Diluted EPS
$2.17
-14.9% on the year
FY2008FY2013
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
4,082
4,089
4,286
-0.2%
Cost of revenue
1,673
1,672
1,836
+0.1%
Gross profit
2,409
2,417
2,449
-0.3%
Gross margin
59.0%
59.1%
57.2%
Research and development
208
201
198
+3.2%
Selling, general and administrative
872
847
822
+2.9%
Operating income
467
552
594
-15.3%
Operating margin
11.4%
13.5%
13.9%
Interest expense
-106
-91.1
-89.0
Pre-tax income
352
453
486
-22.4%
Income tax
67.9
117
101
-42.2%
Effective tax rate
19.3%
25.9%
20.8%
Net income
286
336
385
-14.8%
Net margin
7.0%
8.2%
9.0%
Diluted EPS
$2.17
$2.55
$2.82
-14.9%
$ 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
401
535
396
-25.0%
Capital expenditure
112
112
99.4
-0.1%
Free cash flow
289
423
297
-31.6%
Free cash flow margin
7.1%
10.3%
6.9%
Cash from investing
-218
-106
-108
Cash from financing
-341
-219
-376
Depreciation and amortisation
181
150
160
+20.4%
Share-based compensation
21.3
19.4
12.5
+9.5%
Buybacks
103
98.0
423
+5.6%
Dividends paid
156
225
154
-30.8%
Dividend per share
$1.60
$1.44
$1.20
+11.1%
Diluted shares, weighted
132m
132m
137m
-0.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,682
1,507
1,418
+11.6%
Debt
1,397
1,621
1,581
-13.8%
Other liabilities
1,314
1,197
1,132
+9.8%
Total liabilities and equity
4,393
4,325
4,131
+1.6%
Fixed assets
236
230
218
+2.5%
Goodwill
594
475
475
+25.1%
Intangible assets
376
417
467
-9.8%
Cash and equivalents
682
850
642
-19.7%
Receivables
1,094
1,030
1,035
+6.2%
Inventory
349
316
334
+10.4%
Other assets
1,062
1,008
960
+5.4%
Total assets
4,393
4,325
4,131
+1.6%
10-K for the year ended 29 December 2013, filed 26 February 2014: the filing.