LTC Properties (LTC) FY2014 results: revenue $119 million, up 13.3% on the year
LTC Properties Inc. (LTC) reported revenue of $119 million for fiscal 2014, the year ended 31 December 2014, up 13.3% on the year before. Net income was $73 million, up 27.0%, and diluted earnings per share $1.99. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2015.
Revenue
$119 million
+13.3% on the year
FY2009FY2014
Operating margin
57.5%
52.8% a year earlier
FY2009FY2014
Net income
$73 million
+27.0% on the year
FY2009FY2014
Diluted EPS
$1.99
+22.1% 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
119
105
92.5
+13.3%
Operating income
68.4
55.4
50.3
+23.5%
Operating margin
57.5%
52.8%
54.4%
Interest expense
13.1
11.4
9.9
+15.5%
Income tax
0.0
n/a
n/a
Net income
73.4
57.8
51.3
+27.0%
Net margin
61.7%
55.1%
55.5%
Diluted EPS
$1.99
$1.63
$1.57
+22.1%
$ 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
95.8
87.1
76.7
+9.9%
Capital expenditure
14.0
7.0
1.1
+99.8%
Free cash flow
81.8
80.1
75.6
+2.1%
Free cash flow margin
68.8%
76.3%
81.7%
Cash from investing
-29.0
-165
-159
Cash from financing
-48.3
77.3
84.6
Depreciation and amortisation
25.5
24.7
22.2
+3.3%
Share-based compensation
3.3
2.6
1.8
+25.5%
Dividends paid
74.4
66.9
57.8
+11.3%
Dividend per share
$2.04
$1.91
$1.79
+7.1%
Diluted shares, weighted
37m
33m
30m
+10.6%
Shares outstanding at period end
35m
35m
31m
+2.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
660
632
463
+4.4%
Non-controlling interest
n/a
n/a
0.0
Debt
281
279
304
+0.6%
Other liabilities
25.1
20.1
22.5
+24.7%
Total liabilities and equity
966
931
790
+3.7%
Cash and equivalents
25.2
6.8
7.2
+272.3%
Other assets
941
925
782
+1.7%
Total assets
966
931
790
+3.7%
10-K for the year ended 31 December 2014, filed 26 February 2015: the filing.