Horace Mann Educators (HMN) FY2013 results: revenue $1.0 billion, up 2.0% on the year
Horace Mann Educators Corp. (HMN) reported revenue of $1.0 billion for fiscal 2013, the year ended 31 December 2013, up 2.0% on the year before. Net income was $111 million, up 6.8%, and diluted earnings per share $2.66. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2014.
Revenue
$1.0 billion
+2.0% on the year
FY2009FY2013
Operating margin
14.9%
14.8% a year earlier
FY2009FY2013
Net income
$111 million
+6.8% on the year
FY2009FY2013
Diluted EPS
$2.66
+6.0% 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
1,031
1,011
998
+2.0%
Operating income
154
149
94.9
+3.3%
Operating margin
14.9%
14.8%
9.5%
Interest expense
14.2
14.2
14.0
-0.1%
Pre-tax income
154
149
94.9
+3.3%
Income tax
43.2
45.3
24.4
-4.7%
Effective tax rate
28.0%
30.4%
25.7%
Net income
111
104
70.5
+6.8%
Net margin
10.8%
10.3%
7.1%
Diluted EPS
$2.66
$2.51
$1.70
+6.0%
$ 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
206
203
116
+1.5%
Cash from investing
-598
-355
-303
Cash from financing
395
160
189
+147.6%
Depreciation and amortisation
7.7
7.9
8.6
-2.7%
Share-based compensation
1.4
2.5
1.5
-42.7%
Buybacks
n/a
n/a
2.0
Dividends paid
32.5
22.5
19.0
+44.4%
Dividend per share
$0.78
$0.55
$0.46
+41.8%
Diluted shares, weighted
42m
41m
41m
+0.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,099
1,246
1,055
-11.8%
Debt
200
200
200
+0.0%
Other liabilities
7,527
6,722
6,180
+12.0%
Total liabilities and equity
8,827
8,168
7,435
+8.1%
Fixed assets
34.9
37.0
39.7
-5.6%
Goodwill
47.4
47.4
47.4
0.0%
Securities held for sale or to maturity
6,010
5,962
5,422
+0.8%
Cash and equivalents
18.2
15.2
7.5
+19.8%
Other assets
2,717
2,106
1,919
+29.0%
Total assets
8,827
8,168
7,435
+8.1%
10-K for the year ended 31 December 2013, filed 3 March 2014: the filing.