Kadant (KAI) FY2018 results: revenue $634 million, up 23.1% on the year
Kadant Inc. (KAI) reported revenue of $634 million for fiscal 2018, the year ended 29 December 2018, up 23.1% on the year before. Net income was $60 million, up 94.3%, and diluted earnings per share $5.30. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$634 million
+23.1% on the year
FY2011FY2018
Operating margin
14.0%
12.0% a year earlier
FY2011FY2018
Net income
$60 million
+94.3% on the year
FY2011FY2018
Diluted EPS
$5.30
+92.7% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
634
515
414
+23.1%
Cost of revenue
356
284
226
+25.2%
Gross profit
278
231
188
+20.5%
Gross margin
43.9%
44.9%
45.5%
Research and development
10.6
9.6
7.4
+10.3%
Selling, general and administrative
177
160
135
+11.1%
Operating income
88.6
61.6
46.6
+43.8%
Operating margin
14.0%
12.0%
11.3%
Interest expense
7.0
3.5
1.3
+98.3%
Pre-tax income
79.5
57.7
44.5
+37.9%
Income tax
18.5
26.1
12.1
-29.1%
Effective tax rate
23.2%
45.2%
27.1%
Net income
60.4
31.1
32.1
+94.3%
Net margin
9.5%
6.0%
7.7%
Diluted EPS
$5.30
$2.75
$2.88
+92.7%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
63.0
65.2
51.0
-3.3%
Capital expenditure
16.6
17.3
5.8
-4.2%
Free cash flow
46.4
47.9
45.2
-3.0%
Free cash flow margin
7.3%
9.3%
10.9%
Cash from investing
-16.4
-222
n/a
Cash from financing
-74.2
150
n/a
Depreciation and amortisation
23.6
19.4
14.3
+21.6%
Share-based compensation
7.0
5.8
5.1
+21.1%
Buybacks
n/a
0.0
0.0
Dividends paid
9.6
9.0
8.0
+7.0%
Dividend per share
$0.88
$0.84
$0.76
+4.8%
Diluted shares, weighted
11m
11m
11m
+0.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
373
331
283
+12.7%
Non-controlling interest
1.6
1.5
1.6
+5.9%
Debt
176
241
65.8
-27.2%
Other liabilities
175
187
121
-6.3%
Total liabilities and equity
726
761
471
-4.6%
Fixed assets
80.2
79.7
47.7
+0.5%
Goodwill
258
268
151
-3.7%
Intangible assets
113
133
52.7
-14.8%
Loans
0.7
0.5
0.2
+41.2%
Cash and equivalents
45.8
75.4
71.5
-39.2%
Receivables
92.6
89.6
66.0
+3.3%
Inventory
86.4
84.9
55.0
+1.7%
Other assets
48.6
29.9
26.2
+62.6%
Total assets
726
761
471
-4.6%
10-K for the year ended 29 December 2018, filed 26 February 2019: the filing.