HNI (HNI) FY2017 results: revenue $2.2 billion, down 1.3% on the year
HNI Corp. (HNI) reported revenue of $2.2 billion for fiscal 2017, the year ended 30 December 2017, down 1.3% on the year before. Net income was $90 million, up 4.9%, and diluted earnings per share $2.00. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$2.2 billion
-1.3% on the year
FY2010FY2017
Operating margin
3.5%
6.1% a year earlier
FY2010FY2017
Net income
$90 million
+4.9% on the year
FY2010FY2017
Diluted EPS
$2.00
+6.4% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
2,176
2,203
2,304
-1.3%
Cost of revenue
1,392
1,368
1,457
+1.7%
Gross profit
784
835
847
-6.1%
Gross margin
36.0%
37.9%
36.8%
Research and development
31.8
28.1
31.1
+13.3%
Selling, general and administrative
672
668
672
+0.6%
Operating income
76.7
134
164
-42.6%
Operating margin
3.5%
6.1%
7.1%
Interest expense
6.1
5.1
6.9
+19.5%
Pre-tax income
70.6
129
157
-45.2%
Income tax
-19.3
43.3
51.8
Effective tax rate
-27.3%
33.6%
32.9%
Net income
89.8
85.6
105
+4.9%
Net margin
4.1%
3.9%
4.6%
Diluted EPS
$2.00
$1.88
$2.32
+6.4%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
133
223
173
-40.4%
Capital expenditure
109
93.4
82.6
+16.9%
Free cash flow
23.9
130
90.7
-81.6%
Free cash flow margin
1.1%
5.9%
3.9%
Cash from investing
-118
-153
-113
Cash from financing
-28.1
-62.6
-66.1
Depreciation and amortisation
72.9
68.9
57.6
+5.7%
Share-based compensation
7.8
8.1
9.1
-4.8%
Buybacks
57.5
55.8
26.7
+3.0%
Dividends paid
49.6
48.5
46.3
+2.2%
Dividend per share
$1.13
$1.09
$1.04
+3.7%
Diluted shares, weighted
45m
46m
45m
-1.5%
Shares outstanding at period end
43m
44m
44m
-1.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
514
501
477
+2.7%
Non-controlling interest
0.5
0.4
0.3
+25.4%
Debt
277
214
190
+29.3%
Other liabilities
600
615
596
-2.4%
Total liabilities and equity
1,392
1,330
1,264
+4.6%
Fixed assets
390
356
341
+9.5%
Goodwill
280
291
278
-3.9%
Intangible assets
182
183
153
-0.3%
Investments
12.5
12.3
12.3
+1.7%
Cash and equivalents
23.3
36.3
28.5
-35.7%
Receivables
259
229
243
+12.7%
Inventory
156
118
125
+31.4%
Other assets
89.5
104
82.5
-13.9%
Total assets
1,392
1,330
1,264
+4.6%
10-K for the year ended 30 December 2017, filed 26 February 2019: the filing.