Kennametal (KMT) FY2016 results: revenue $2.1 billion, down 20.7% on the year
Kennametal Inc. (KMT) reported revenue of $2.1 billion for fiscal 2016, the year ended 30 June 2016, down 20.7% on the year before. Net income was -$226 million, and diluted earnings per share $-2.83. The figures are the company's own, from the 10-K it filed with the SEC on 11 August 2016.
Revenue
$2.1 billion
-20.7% on the year
FY2009FY2016
Operating margin
-8.3%
-13.5% a year earlier
FY2009FY2016
Net income
-$226 million
FY2009FY2016
Diluted EPS
-$2.83
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
2,098
2,647
2,837
-20.7%
Cost of revenue
1,482
1,841
1,940
-19.5%
Gross profit
616
806
897
-23.6%
Gross margin
29.4%
30.4%
31.6%
Research and development
39.4
45.1
44.0
-12.6%
Operating income
-175
-358
263
Operating margin
-8.3%
-13.5%
9.3%
Interest expense
27.8
31.5
32.5
-11.8%
Pre-tax income
-199
-388
229
Income tax
25.3
-16.7
66.6
Effective tax rate
n/a
n/a
29.1%
Net income
-226
-374
158
Net margin
-10.8%
-14.1%
5.6%
Diluted EPS
-$2.83
-$4.71
$1.99
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
222
351
272
-36.7%
Capital expenditure
111
101
117
+9.7%
Free cash flow
112
250
154
-55.4%
Free cash flow margin
5.3%
9.5%
5.4%
Cash from investing
-47.9
-84.6
-740
Cash from financing
-114
-333
270
Depreciation and amortisation
117
132
130
-10.8%
Share-based compensation
18.1
16.8
17.6
+7.7%
Buybacks
0.3
0.3
14.2
-7.2%
Dividends paid
63.7
57.0
56.4
+11.8%
Dividend per share
$0.80
$0.72
$0.72
+11.1%
Diluted shares, weighted
80m
79m
80m
+0.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
964
1,346
1,929
-28.3%
Non-controlling interest
31.5
29.6
32.4
+6.2%
Debt
694
752
1,062
-7.7%
Other liabilities
673
717
845
-6.0%
Total liabilities and equity
2,363
2,844
3,868
-16.9%
Fixed assets
731
816
884
-10.4%
Goodwill
298
417
976
-28.5%
Intangible assets
207
287
343
-27.7%
Cash and equivalents
162
105
178
+53.2%
Receivables
371
445
532
-16.7%
Inventory
459
576
704
-20.3%
Other assets
135
197
252
-31.5%
Total assets
2,363
2,844
3,868
-16.9%
10-K for the year ended 30 June 2016, filed 11 August 2016: the filing.