Kennametal (KMT) FY2013 results: revenue $2.6 billion, down 5.4% on the year
Kennametal Inc. (KMT) reported revenue of $2.6 billion for fiscal 2013, the year ended 30 June 2013, down 5.4% on the year before. Net income was $203 million, down 33.8%, and diluted earnings per share $2.52. The figures are the company's own, from the 10-K it filed with the SEC on 13 August 2014.
Revenue
$2.6 billion
-5.4% on the year
FY2009FY2013
Operating margin
11.4%
15.2% a year earlier
FY2009FY2013
Net income
$203 million
-33.8% on the year
FY2009FY2013
Diluted EPS
$2.52
-33.2% 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
2,589
2,736
2,403
-5.4%
Cost of revenue
1,744
1,742
1,519
+0.1%
Gross profit
845
994
884
-15.0%
Gross margin
32.6%
36.3%
36.8%
Research and development
39.7
38.3
33.3
+3.7%
Operating income
296
416
322
-28.8%
Operating margin
11.4%
15.2%
13.4%
Interest expense
27.5
27.2
22.8
+0.9%
Pre-tax income
267
390
296
-31.6%
Income tax
59.7
79.1
63.9
-24.6%
Effective tax rate
22.4%
20.3%
21.6%
Net income
203
307
230
-33.8%
Net margin
7.8%
11.2%
9.6%
Diluted EPS
$2.52
$3.77
$2.76
-33.2%
$ 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
284
290
231
-1.9%
Capital expenditure
82.8
103
83.4
-19.6%
Free cash flow
201
187
147
+7.9%
Free cash flow margin
7.8%
6.8%
6.1%
Cash from investing
-80.7
-487
-71.8
Cash from financing
52.1
131
-96.0
-60.3%
Depreciation and amortisation
113
104
93.5
+8.7%
Share-based compensation
21.9
21.5
18.9
+1.7%
Buybacks
121
66.9
57.9
+81.5%
Dividends paid
51.0
43.6
39.8
+16.9%
Diluted shares, weighted
81m
81m
83m
-1.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,782
1,644
1,638
+8.4%
Non-controlling interest
30.5
24.4
20.6
+25.0%
Debt
748
566
313
+32.2%
Other liabilities
741
800
783
-7.4%
Total liabilities and equity
3,301
3,034
2,754
+8.8%
Fixed assets
741
742
697
-0.1%
Goodwill
722
719
511
+0.3%
Intangible assets
223
243
152
-8.5%
Cash and equivalents
377
116
205
+224.0%
Receivables
445
479
448
-7.0%
Inventory
579
586
520
-1.2%
Other assets
214
148
221
+44.5%
Total assets
3,301
3,034
2,754
+8.8%
10-K for the year ended 30 June 2013, filed 13 August 2014: the filing.