Kadant (KAI) FY2015 results: revenue $390 million, down 3.0% on the year
Kadant Inc. (KAI) reported revenue of $390 million for fiscal 2015, the year ended 2 January 2016, down 3.0% on the year before. Net income was $34 million, up 20.0%, and diluted earnings per share $3.10. The figures are the company's own, from the 10-K it filed with the SEC on 16 March 2016.
Revenue
$390 million
-3.0% on the year
FY2009FY2015
Operating margin
12.8%
10.5% a year earlier
FY2009FY2015
Net income
$34 million
+20.0% on the year
FY2009FY2015
Diluted EPS
$3.10
+21.1% on the year
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
390
402
344
-3.0%
Cost of revenue
210
224
187
-6.2%
Gross profit
180
178
158
+1.0%
Gross margin
46.2%
44.4%
45.8%
Research and development
6.7
6.2
6.7
+8.3%
Selling, general and administrative
123
129
118
-5.0%
Operating income
50.1
42.1
33.3
+19.1%
Operating margin
12.8%
10.5%
9.7%
Interest expense
0.9
1.0
0.9
-1.9%
Pre-tax income
49.4
41.5
33.0
+18.9%
Income tax
14.8
12.4
9.3
+18.6%
Effective tax rate
29.9%
30.0%
28.2%
Net income
34.4
28.7
23.4
+20.0%
Net margin
8.8%
7.1%
6.8%
Diluted EPS
$3.10
$2.56
$2.07
+21.1%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
40.4
51.1
40.1
-21.0%
Capital expenditure
5.5
6.8
6.3
-18.9%
Free cash flow
34.9
44.4
33.8
-21.3%
Free cash flow margin
8.9%
11.0%
9.8%
Depreciation and amortisation
10.8
11.2
9.8
-3.3%
Share-based compensation
5.7
5.8
5.2
-1.2%
Buybacks
9.9
15.1
5.4
-34.6%
Dividends paid
7.2
6.3
4.2
+13.3%
Dividend per share
$0.68
$0.60
$0.50
+13.3%
Diluted shares, weighted
11m
11m
11m
-1.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
267
264
269
+0.9%
Non-controlling interest
1.3
1.2
0.9
+14.4%
Debt
31.2
25.9
38.6
+20.8%
Other liabilities
116
122
133
-5.0%
Total liabilities and equity
415
414
442
+0.4%
Fixed assets
42.3
45.0
44.9
-5.9%
Goodwill
119
128
132
-6.9%
Intangible assets
38.0
47.0
47.9
-19.0%
Cash and equivalents
65.5
45.4
50.0
+44.4%
Receivables
64.3
58.5
70.3
+9.9%
Inventory
56.8
55.2
62.8
+2.8%
Other assets
29.5
34.8
34.4
-15.3%
Total assets
415
414
442
+0.4%
10-K for the year ended 2 January 2016, filed 16 March 2016: the filing.