Lennox International (LII) FY2013 results: revenue $3.2 billion, up 8.5% on the year
Lennox International Inc. (LII) reported revenue of $3.2 billion for fiscal 2013, the year ended 31 December 2013, up 8.5% on the year before. Net income was $172 million, up 90.9%, and diluted earnings per share $3.39. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2014.
Revenue
$3.2 billion
+8.5% on the year
FY2008FY2013
Operating margin
9.0%
7.4% a year earlier
FY2008FY2013
Net income
$172 million
+90.9% on the year
FY2008FY2013
Diluted EPS
$3.39
+93.7% on the year
FY2008FY2013
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
3,199
2,949
2,841
+8.5%
Cost of revenue
2,338
2,227
2,171
+5.0%
Gross profit
861
722
670
+19.2%
Gross margin
26.9%
24.5%
23.6%
Research and development
53.7
50.7
50.3
+5.9%
Selling, general and administrative
570
507
477
+12.4%
Operating income
289
219
184
+31.9%
Operating margin
9.0%
7.4%
6.5%
Interest expense
14.5
17.1
16.8
-15.2%
Pre-tax income
274
202
167
+36.0%
Income tax
94.4
66.7
55.8
+41.5%
Effective tax rate
34.4%
33.1%
33.4%
Net income
172
90.0
88.3
+90.9%
Net margin
5.4%
3.1%
3.1%
Diluted EPS
$3.39
$1.75
$1.65
+93.7%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
210
221
76.2
-5.0%
Capital expenditure
78.3
50.2
41.4
+56.0%
Free cash flow
132
171
34.8
-22.9%
Free cash flow margin
4.1%
5.8%
1.2%
Cash from investing
-67.3
-40.4
-178
Cash from financing
-150
-180
-11.9
Depreciation and amortisation
58.9
55.4
56.6
+6.3%
Share-based compensation
29.3
15.2
13.7
+92.8%
Buybacks
125
50.1
120
+149.5%
Dividends paid
34.0
47.6
36.5
-28.6%
Dividend per share
$0.92
$0.76
$0.72
+21.1%
Diluted shares, weighted
51m
51m
53m
-1.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
486
498
469
-2.5%
Non-controlling interest
0.8
1.5
n/a
-46.7%
Debt
400
387
465
+3.6%
Other liabilities
740
806
772
-8.2%
Total liabilities and equity
1,627
1,692
1,706
-3.9%
Fixed assets
336
298
301
+12.5%
Goodwill
217
224
223
-3.1%
Intangible assets
27.8
29.4
33.1
-5.4%
Cash and equivalents
38.0
51.8
45.0
-26.6%
Receivables
408
373
387
+9.3%
Inventory
379
375
318
+1.1%
Other assets
222
340
399
-34.9%
Total assets
1,627
1,692
1,706
-3.9%
10-K for the year ended 31 December 2013, filed 13 February 2014: the filing.