Kadant (KAI) FY2014 results: revenue $402 million, up 16.7% on the year
Kadant Inc. (KAI) reported revenue of $402 million for fiscal 2014, the year ended 3 January 2015, up 16.7% on the year before. Net income was $29 million, up 22.4%, and diluted earnings per share $2.56. The figures are the company's own, from the 10-K it filed with the SEC on 18 March 2015.
Revenue
$402 million
+16.7% on the year
FY2009FY2014
Operating margin
10.5%
9.7% a year earlier
FY2009FY2014
Net income
$29 million
+22.4% on the year
FY2009FY2014
Diluted EPS
$2.56
+23.7% on the year
FY2009FY2014
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
402
344
332
+16.7%
Cost of revenue
224
187
186
+19.8%
Gross profit
178
158
146
+13.1%
Gross margin
44.4%
45.8%
43.9%
Research and development
6.2
6.7
6.0
-8.2%
Selling, general and administrative
129
118
103
+10.0%
Operating income
42.1
33.3
36.4
+26.4%
Operating margin
10.5%
9.7%
11.0%
Interest expense
1.0
0.9
0.8
+7.3%
Pre-tax income
41.5
33.0
35.9
+25.7%
Income tax
12.4
9.3
4.9
+33.6%
Effective tax rate
30.0%
28.2%
13.5%
Net income
28.7
23.4
31.6
+22.4%
Net margin
7.1%
6.8%
9.5%
Diluted EPS
$2.56
$2.07
$2.73
+23.7%
$ 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
51.1
40.1
29.1
+27.5%
Capital expenditure
6.8
6.3
4.2
+7.9%
Free cash flow
44.4
33.8
24.9
+31.2%
Free cash flow margin
11.0%
9.8%
7.5%
Depreciation and amortisation
11.2
9.8
8.4
+14.5%
Share-based compensation
5.8
5.2
4.8
+11.4%
Buybacks
15.1
5.4
14.5
+182.0%
Dividends paid
6.3
4.2
0.0
+51.3%
Dividend per share
$0.60
$0.50
$0.00
+20.0%
Diluted shares, weighted
11m
11m
12m
-1.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
264
269
249
-1.9%
Non-controlling interest
1.2
0.9
1.4
+26.3%
Debt
25.9
38.6
6.9
-33.1%
Other liabilities
122
133
102
-8.0%
Total liabilities and equity
414
442
359
-6.4%
Fixed assets
45.0
44.9
39.2
+0.2%
Goodwill
128
132
108
-3.1%
Intangible assets
47.0
47.9
26.1
-1.9%
Cash and equivalents
45.4
50.0
54.6
-9.3%
Receivables
58.5
70.3
59.4
-16.7%
Inventory
55.2
62.8
42.1
-12.1%
Other assets
34.8
34.4
29.7
+1.2%
Total assets
414
442
359
-6.4%
10-K for the year ended 3 January 2015, filed 18 March 2015: the filing.