Kadant (KAI) FY2013 results: revenue $344 million, up 3.8% on the year
Kadant Inc. (KAI) reported revenue of $344 million for fiscal 2013, the year ended 28 December 2013, up 3.8% on the year before. Net income was $23 million, down 25.9%, and diluted earnings per share $2.07. The figures are the company's own, from the 10-K it filed with the SEC on 12 March 2014.
Revenue
$344 million
+3.8% on the year
FY2009FY2013
Operating margin
9.7%
11.0% a year earlier
FY2009FY2013
Net income
$23 million
-25.9% on the year
FY2009FY2013
Diluted EPS
$2.07
-24.2% on the year
FY2009FY2013
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
344
332
335
+3.8%
Cost of revenue
187
186
190
+0.5%
Gross profit
158
146
145
+8.2%
Gross margin
45.8%
43.9%
43.3%
Research and development
6.7
6.0
5.7
+12.9%
Selling, general and administrative
118
103
103
+14.0%
Operating income
33.3
36.4
38.7
-8.6%
Operating margin
9.7%
11.0%
11.5%
Interest expense
0.9
0.8
1.1
+8.0%
Pre-tax income
33.0
35.9
38.1
-8.1%
Income tax
9.3
4.9
4.3
+92.0%
Effective tax rate
28.2%
13.5%
11.2%
Net income
23.4
31.6
33.6
-25.9%
Net margin
6.8%
9.5%
10.0%
Diluted EPS
$2.07
$2.73
$2.74
-24.2%
$ 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
40.1
29.1
34.3
+37.7%
Capital expenditure
6.3
4.2
8.0
+47.3%
Free cash flow
33.8
24.9
26.3
+36.0%
Free cash flow margin
9.8%
7.5%
7.8%
Depreciation and amortisation
9.8
8.4
7.9
+16.6%
Share-based compensation
5.2
4.8
3.9
+9.4%
Buybacks
5.4
14.5
16.1
-63.0%
Dividends paid
4.2
0.0
0.0
Dividend per share
$0.50
$0.00
$0.00
Diluted shares, weighted
11m
12m
12m
-2.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
269
249
222
+8.4%
Non-controlling interest
0.9
1.4
1.1
-33.2%
Debt
38.6
6.9
12.2
+462.0%
Other liabilities
133
102
123
+30.4%
Total liabilities and equity
442
359
358
+23.2%
Fixed assets
44.9
39.2
40.1
+14.6%
Goodwill
132
108
106
+22.2%
Intangible assets
47.9
26.1
29.1
+83.4%
Cash and equivalents
50.0
54.6
47.0
-8.3%
Receivables
70.3
59.4
59.5
+18.4%
Inventory
62.8
42.1
50.5
+49.3%
Other assets
34.4
29.7
26.3
+15.7%
Total assets
442
359
358
+23.2%
10-K for the year ended 28 December 2013, filed 12 March 2014: the filing.