HNI (HNI) FY2013 results: revenue $2.1 billion, up 2.8% on the year
HNI Corp. (HNI) reported revenue of $2.1 billion for fiscal 2013, the year ended 28 December 2013, up 2.8% on the year before. Net income was $64 million, up 30.1%, and diluted earnings per share $1.39. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$2.1 billion
+2.8% on the year
FY2008FY2013
Operating margin
5.1%
4.4% a year earlier
FY2008FY2013
Net income
$64 million
+30.1% on the year
FY2008FY2013
Diluted EPS
$1.39
+29.9% 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
2,060
2,004
1,833
+2.8%
Cost of revenue
1,345
1,315
1,194
+2.3%
Gross profit
715
689
639
+3.8%
Gross margin
34.7%
34.4%
34.9%
Research and development
27.3
26.9
23.1
+1.5%
Selling, general and administrative
607
600
554
+1.1%
Operating income
106
87.6
81.5
+21.0%
Operating margin
5.1%
4.4%
4.4%
Interest expense
9.9
10.9
12.0
-8.8%
Pre-tax income
96.7
77.6
70.2
+24.6%
Income tax
33.3
29.3
24.4
+13.9%
Effective tax rate
34.5%
37.7%
34.8%
Net income
63.7
49.0
46.0
+30.1%
Net margin
3.1%
2.4%
2.5%
Diluted EPS
$1.39
$1.07
$1.01
+29.9%
$ 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
165
145
134
+14.0%
Capital expenditure
61.0
39.5
27.8
+54.5%
Free cash flow
104
105
106
-1.2%
Free cash flow margin
5.0%
5.3%
5.8%
Cash from investing
-75.4
-85.8
-91.5
Cash from financing
-66.3
-90.0
-69.0
Depreciation and amortisation
46.6
43.4
46.3
+7.5%
Share-based compensation
7.5
6.4
7.2
+15.8%
Buybacks
27.5
21.0
10.0
+30.8%
Dividends paid
43.5
43.0
41.2
+1.1%
Dividend per share
$0.96
$0.95
$0.92
+1.1%
Diluted shares, weighted
46m
46m
46m
+0.3%
Shares outstanding at period end
45m
45m
45m
+0.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
436
420
419
+3.8%
Non-controlling interest
0.1
0.3
0.3
-70.4%
Debt
150
155
180
-2.7%
Other liabilities
548
502
452
+9.2%
Total liabilities and equity
1,135
1,077
1,052
+5.4%
Fixed assets
267
240
230
+11.2%
Goodwill
287
288
271
-0.6%
Intangible assets
94.6
87.0
61.0
+8.8%
Investments
16.4
20.6
19.9
-20.6%
Cash and equivalents
65.0
41.8
72.8
+55.6%
Receivables
229
213
204
+7.1%
Inventory
89.5
93.5
102
-4.3%
Other assets
86.4
91.8
91.6
-5.9%
Total assets
1,135
1,077
1,052
+5.4%
10-K for the year ended 28 December 2013, filed 21 February 2014: the filing.