Kadant (KAI) FY2017 results: revenue $515 million, up 24.4% on the year
Kadant Inc. (KAI) reported revenue of $515 million for fiscal 2017, the year ended 30 December 2017, up 24.4% on the year before. Net income was $31 million, down 3.1%, and diluted earnings per share $2.75. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$515 million
+24.4% on the year
FY2010FY2017
Operating margin
12.0%
11.3% a year earlier
FY2010FY2017
Net income
$31 million
-3.1% on the year
FY2010FY2017
Diluted EPS
$2.75
-4.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
515
414
390
+24.4%
Cost of revenue
284
226
210
+25.8%
Gross profit
231
188
180
+22.6%
Gross margin
44.9%
45.5%
46.2%
Research and development
9.6
7.4
6.7
+29.6%
Selling, general and administrative
160
135
123
+18.5%
Operating income
61.6
46.6
50.1
+32.1%
Operating margin
12.0%
11.3%
12.8%
Interest expense
3.5
1.3
0.9
+174.3%
Pre-tax income
57.7
44.5
49.4
+29.4%
Income tax
26.1
12.1
14.8
+115.8%
Effective tax rate
45.2%
27.1%
29.9%
Net income
31.1
32.1
34.4
-3.1%
Net margin
6.0%
7.7%
8.8%
Diluted EPS
$2.75
$2.88
$3.10
-4.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
65.2
51.0
40.4
+27.8%
Capital expenditure
17.3
5.8
5.5
+197.7%
Free cash flow
47.9
45.2
34.9
+5.9%
Free cash flow margin
9.3%
10.9%
8.9%
Cash from investing
-222
n/a
n/a
Cash from financing
150
n/a
n/a
Depreciation and amortisation
19.4
14.3
10.8
+35.2%
Share-based compensation
5.8
5.1
5.7
+14.5%
Buybacks
0.0
0.0
9.9
Dividends paid
9.0
8.0
7.2
+12.1%
Dividend per share
$0.84
$0.76
$0.68
+10.5%
Diluted shares, weighted
11m
11m
11m
+1.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
331
283
267
+17.1%
Non-controlling interest
1.5
1.6
1.3
-8.3%
Debt
241
65.8
31.2
+267.0%
Other liabilities
187
121
116
+55.2%
Total liabilities and equity
761
471
415
+61.7%
Fixed assets
79.7
47.7
42.3
+67.1%
Goodwill
268
151
119
+77.0%
Intangible assets
133
52.7
38.0
+152.3%
Loans
0.5
0.2
n/a
+110.3%
Cash and equivalents
75.4
71.5
65.5
+5.5%
Receivables
89.6
66.0
64.3
+35.9%
Inventory
84.9
55.0
56.8
+54.6%
Other assets
29.9
26.2
29.5
+14.1%
Total assets
761
471
415
+61.7%
10-K for the year ended 30 December 2017, filed 26 February 2019: the filing.