Huntington Ingalls Industries (HII) FY2013 results: revenue $6.8 billion, up 1.7% on the year
Huntington Ingalls Industries, Inc. (HII) reported revenue of $6.8 billion for fiscal 2013, the year ended 31 December 2013, up 1.7% on the year before. Net income was $261 million, up 78.8%, and diluted earnings per share $5.18. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2014.
Revenue
$6.8 billion
+1.7% on the year
FY2009FY2013
Operating margin
7.5%
5.3% a year earlier
FY2009FY2013
Net income
$261 million
+78.8% on the year
FY2009FY2013
Diluted EPS
$5.18
+78.0% 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
6,820
6,708
6,575
+1.7%
Cost of revenue
5,583
5,629
5,571
-0.8%
Gross profit
1,237
1,079
1,004
+14.6%
Gross margin
18.1%
16.1%
15.3%
Research and development
22.0
21.0
24.0
+4.8%
Operating income
512
358
100
+43.0%
Operating margin
7.5%
5.3%
1.5%
Interest expense
118
117
104
+0.9%
Pre-tax income
394
241
-4.0
+63.5%
Income tax
133
95.0
96.0
+40.0%
Effective tax rate
33.8%
39.4%
n/a
Net income
261
146
-100
+78.8%
Net margin
3.8%
2.2%
-1.5%
Diluted EPS
$5.18
$2.91
-$2.05
+78.0%
$ 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
236
332
528
-28.9%
Capital expenditure
139
162
197
-14.2%
Free cash flow
97.0
170
331
-42.9%
Free cash flow margin
1.4%
2.5%
5.0%
Cash from investing
-81.0
-162
-197
Cash from financing
-169
-28.0
584
Depreciation and amortisation
226
184
184
+22.8%
Share-based compensation
44.0
41.0
42.0
+7.3%
Buybacks
119
1.0
n/a
+11,800.0%
Dividends paid
25.0
5.0
1,429
+400.0%
Dividend per share
$0.50
$0.10
n/a
+400.0%
Diluted shares, weighted
50m
50m
49m
+0.6%
Shares outstanding at period end
49m
50m
49m
-1.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,521
667
859
+128.0%
Debt
1,779
1,830
1,859
-2.8%
Other liabilities
2,890
3,895
3,351
-25.8%
Total liabilities and equity
6,190
6,392
6,069
-3.2%
Fixed assets
1,897
2,034
2,033
-6.7%
Goodwill
881
881
881
0.0%
Intangible assets
528
548
567
-3.6%
Cash and equivalents
1,043
1,057
915
-1.3%
Receivables
1,123
905
711
+24.1%
Other assets
718
967
962
-25.7%
Total assets
6,190
6,392
6,069
-3.2%
10-K for the year ended 31 December 2013, filed 27 February 2014: the filing.