Kennametal (KMT) FY2014 results: revenue $2.8 billion, up 9.6% on the year
Kennametal Inc. (KMT) reported revenue of $2.8 billion for fiscal 2014, the year ended 30 June 2014, up 9.6% on the year before. Net income was $158 million, down 22.1%, and diluted earnings per share $1.99. The figures are the company's own, from the 10-K it filed with the SEC on 13 August 2014.
Revenue
$2.8 billion
+9.6% on the year
FY2009FY2014
Operating margin
9.3%
11.4% a year earlier
FY2009FY2014
Net income
$158 million
-22.1% on the year
FY2009FY2014
Diluted EPS
$1.99
-21.0% 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
2,837
2,589
2,736
+9.6%
Cost of revenue
1,940
1,744
1,742
+11.2%
Gross profit
897
845
994
+6.2%
Gross margin
31.6%
32.6%
36.3%
Research and development
44.0
39.7
38.3
+10.8%
Operating income
263
296
416
-11.1%
Operating margin
9.3%
11.4%
15.2%
Interest expense
32.5
27.5
27.2
+18.1%
Pre-tax income
229
267
390
-14.2%
Income tax
66.6
59.7
79.1
+11.6%
Effective tax rate
29.1%
22.4%
20.3%
Net income
158
203
307
-22.1%
Net margin
5.6%
7.8%
11.2%
Diluted EPS
$1.99
$2.52
$3.77
-21.0%
$ 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
272
284
290
-4.3%
Capital expenditure
117
82.8
103
+41.7%
Free cash flow
154
201
187
-23.3%
Free cash flow margin
5.4%
7.8%
6.8%
Cash from investing
-740
-80.7
-487
Cash from financing
270
52.1
131
+418.5%
Depreciation and amortisation
130
113
104
+15.1%
Share-based compensation
17.6
21.9
21.5
-19.4%
Buybacks
14.2
121
66.9
-88.3%
Dividends paid
56.4
51.0
43.6
+10.6%
Dividend per share
$0.72
n/a
n/a
Diluted shares, weighted
80m
81m
81m
-1.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,929
1,782
1,644
+8.3%
Non-controlling interest
32.4
30.5
24.4
+6.2%
Debt
1,062
748
566
+42.0%
Other liabilities
845
741
800
+14.0%
Total liabilities and equity
3,868
3,301
3,034
+17.2%
Fixed assets
884
741
742
+19.3%
Goodwill
976
722
719
+35.2%
Intangible assets
343
223
243
+54.1%
Cash and equivalents
178
377
116
-52.8%
Receivables
532
445
479
+19.4%
Inventory
704
579
586
+21.6%
Other assets
252
214
148
+17.8%
Total assets
3,868
3,301
3,034
+17.2%
10-K for the year ended 30 June 2014, filed 13 August 2014: the filing.