HNI (HNI) FY2015 results: revenue $2.3 billion, up 3.7% on the year
HNI Corp. (HNI) reported revenue of $2.3 billion for fiscal 2015, the year ended 2 January 2016, up 3.7% on the year before. Net income was $105 million, up 71.5%, and diluted earnings per share $2.32. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$2.3 billion
+3.7% on the year
FY2008FY2015
Operating margin
7.1%
5.1% a year earlier
FY2008FY2015
Net income
$105 million
+71.5% on the year
FY2008FY2015
Diluted EPS
$2.32
+71.9% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
2,304
2,223
2,060
+3.7%
Cost of revenue
1,457
1,438
1,345
+1.3%
Gross profit
847
784
715
+8.1%
Gross margin
36.8%
35.3%
34.7%
Research and development
31.1
29.7
27.3
+4.7%
Selling, general and administrative
672
649
607
+3.6%
Operating income
164
113
106
+45.0%
Operating margin
7.1%
5.1%
5.1%
Interest expense
6.9
8.3
9.9
-17.2%
Pre-tax income
157
105
96.7
+49.8%
Income tax
51.8
43.8
33.3
+18.2%
Effective tax rate
32.9%
41.7%
34.5%
Net income
105
61.5
63.7
+71.5%
Net margin
4.6%
2.8%
3.1%
Diluted EPS
$2.32
$1.35
$1.39
+71.9%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
173
168
165
+3.3%
Capital expenditure
82.6
74.3
61.0
+11.1%
Free cash flow
90.7
93.5
104
-2.9%
Free cash flow margin
3.9%
4.2%
5.0%
Cash from investing
-113
-154
-75.4
Cash from financing
-66.1
-44.5
-66.3
Depreciation and amortisation
57.6
56.7
46.6
+1.5%
Share-based compensation
9.1
8.6
7.5
+5.8%
Buybacks
26.7
67.9
27.5
-60.7%
Dividends paid
46.3
44.3
43.5
+4.5%
Dividend per share
$1.04
$0.99
$0.96
+5.6%
Diluted shares, weighted
45m
46m
46m
-0.3%
Shares outstanding at period end
44m
44m
45m
-0.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
477
415
436
+15.0%
Non-controlling interest
0.3
-0.1
0.1
Debt
190
198
150
-3.7%
Other liabilities
596
627
548
-4.9%
Total liabilities and equity
1,264
1,239
1,135
+2.0%
Fixed assets
341
311
267
+9.7%
Goodwill
278
279
287
-0.6%
Intangible assets
153
141
94.6
+8.4%
Investments
12.3
12.3
16.4
+0.2%
Cash and equivalents
28.5
34.1
65.0
-16.4%
Receivables
243
240
229
+1.4%
Inventory
125
122
89.5
+2.8%
Other assets
82.5
99.5
86.4
-17.1%
Total assets
1,264
1,239
1,135
+2.0%
10-K for the year ended 2 January 2016, filed 29 February 2016: the filing.