Illumina (ILMN) FY2014 results: revenue $1.9 billion, up 31.0% on the year
Illumina, Inc. (ILMN) reported revenue of $1.9 billion for fiscal 2014, the year ended 28 December 2014, up 31.0% on the year before. Net income was $353 million, up 182.0%, and diluted earnings per share $2.37. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2015.
Revenue
$1.9 billion
+31.0% on the year
FY2008FY2014
Operating margin
27.7%
9.4% a year earlier
FY2008FY2014
Net income
$353 million
+182.0% on the year
FY2008FY2014
Diluted EPS
$2.37
+163.3% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
1,861
1,421
1,149
+31.0%
Cost of revenue
564
509
375
+10.7%
Gross profit
1,298
912
774
+42.3%
Gross margin
69.7%
64.2%
67.4%
Research and development
388
277
231
+40.2%
Selling, general and administrative
466
381
286
+22.4%
Operating income
515
134
201
+283.8%
Operating margin
27.7%
9.4%
17.5%
Interest expense
41.7
39.7
37.8
+5.1%
Pre-tax income
449
159
223
+181.7%
Income tax
95.4
34.0
71.4
+180.6%
Effective tax rate
21.3%
21.3%
32.1%
Net income
353
125
151
+182.0%
Net margin
19.0%
8.8%
13.2%
Diluted EPS
$2.37
$0.90
$1.13
+163.3%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
501
386
292
+29.7%
Capital expenditure
106
79.2
68.8
+33.8%
Free cash flow
395
307
223
+28.7%
Free cash flow margin
21.2%
21.6%
19.4%
Cash from investing
-407
-69.6
-150
Cash from financing
-167
-38.7
-10.8
Depreciation and amortisation
113
97.9
65.3
+15.0%
Share-based compensation
153
106
94.3
+44.2%
Buybacks
237
50.0
82.5
+374.2%
Diluted shares, weighted
149m
140m
134m
+6.5%
Shares outstanding at period end
144m
128m
124m
+12.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,463
1,533
1,319
-4.6%
Redeemable equity
0.0
0.3
n/a
Debt
1,291
869
842
+48.6%
Other liabilities
586
617
405
-5.0%
Total liabilities and equity
3,340
3,019
2,566
+10.6%
Fixed assets
265
203
166
+30.9%
Goodwill
725
723
369
+0.3%
Intangible assets
314
331
130
-5.0%
Investments
702
454
916
+54.7%
Cash and equivalents
636
712
434
-10.6%
Receivables
289
239
215
+21.1%
Inventory
191
154
159
+24.0%
Other assets
216
203
176
+6.2%
Total assets
3,340
3,019
2,566
+10.6%
10-K for the year ended 28 December 2014, filed 18 February 2015: the filing.