Illumina (ILMN) FY2013 results: revenue $1.4 billion, up 23.7% on the year
Illumina, Inc. (ILMN) reported revenue of $1.4 billion for fiscal 2013, the year ended 29 December 2013, up 23.7% on the year before. Net income was $125 million, down 17.2%, and diluted earnings per share $0.90. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2014.
Revenue
$1.4 billion
+23.7% on the year
FY2008FY2013
Operating margin
9.4%
17.5% a year earlier
FY2008FY2013
Net income
$125 million
-17.2% on the year
FY2008FY2013
Diluted EPS
$0.90
-20.4% 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
1,421
1,149
1,056
+23.7%
Cost of revenue
509
375
346
+35.8%
Gross profit
912
774
709
+17.9%
Gross margin
64.2%
67.4%
67.2%
Research and development
277
231
197
+19.8%
Selling, general and administrative
381
286
262
+33.2%
Operating income
134
201
199
-33.2%
Operating margin
9.4%
17.5%
18.9%
Interest expense
39.7
37.8
34.8
+5.1%
Pre-tax income
159
223
133
-28.4%
Income tax
34.0
71.4
46.4
-52.3%
Effective tax rate
21.3%
32.1%
34.9%
Net income
125
151
86.6
-17.2%
Net margin
8.8%
13.2%
8.2%
Diluted EPS
$0.90
$1.13
$0.62
-20.4%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
386
292
358
+32.4%
Capital expenditure
79.2
68.8
77.8
+15.2%
Free cash flow
307
223
280
+37.7%
Free cash flow margin
21.6%
19.4%
26.6%
Cash from investing
-69.6
-150
-401
Cash from financing
-38.7
-10.8
97.0
Depreciation and amortisation
97.9
65.3
69.2
+49.8%
Share-based compensation
106
94.3
92.1
+12.2%
Buybacks
50.0
82.5
570
-39.4%
Diluted shares, weighted
140m
134m
139m
+4.7%
Shares outstanding at period end
128m
124m
122m
+3.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,533
1,319
1,075
+16.3%
Redeemable equity
0.3
n/a
n/a
Debt
869
842
807
+3.1%
Other liabilities
617
405
313
+52.3%
Total liabilities and equity
3,019
2,566
2,196
+17.7%
Fixed assets
203
166
143
+22.0%
Goodwill
723
369
322
+95.8%
Intangible assets
331
130
106
+154.4%
Investments
454
916
887
-50.5%
Cash and equivalents
712
434
303
+64.0%
Receivables
239
215
174
+11.2%
Inventory
154
159
129
-2.9%
Other assets
203
176
132
+15.3%
Total assets
3,019
2,566
2,196
+17.7%
10-K for the year ended 29 December 2013, filed 18 February 2014: the filing.