lululemon athletica (LULU) FY2013 results: revenue $1.6 billion, up 16.1% on the year
lululemon athletica Inc. (LULU) reported revenue of $1.6 billion for fiscal 2013, the year ended 2 February 2014, up 16.1% on the year before. Net income was $280 million, up 3.3%, and diluted earnings per share $1.91. The figures are the company's own, from the 10-K it filed with the SEC on 27 March 2014.
Revenue
$1.6 billion
+16.1% on the year
FY2008FY2013
Operating margin
24.6%
27.5% a year earlier
FY2008FY2013
Net income
$280 million
+3.3% on the year
FY2008FY2013
Diluted EPS
$1.91
+3.2% 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
1,591
1,370
1,001
+16.1%
Cost of revenue
751
608
432
+23.6%
Gross profit
840
763
569
+10.1%
Gross margin
52.8%
55.7%
56.9%
Selling, general and administrative
449
386
282
+16.1%
Operating income
391
376
287
+4.0%
Operating margin
24.6%
27.5%
28.7%
Pre-tax income
397
381
289
+4.1%
Income tax
118
110
104
+6.9%
Effective tax rate
29.6%
28.8%
36.1%
Net income
280
271
184
+3.3%
Net margin
17.6%
19.7%
18.4%
Diluted EPS
$1.91
$1.85
$1.27
+3.2%
$ 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
278
280
204
-0.6%
Capital expenditure
106
93.2
117
+14.1%
Free cash flow
172
187
87.0
-8.0%
Free cash flow margin
10.8%
13.6%
8.7%
Cash from investing
-106
-93.2
-122
Cash from financing
8.9
-5.5
15.4
Depreciation and amortisation
49.1
43.0
30.3
+14.1%
Share-based compensation
10.1
15.6
10.3
-35.5%
Buybacks
0.0
0.0
n/a
Diluted shares, weighted
146m
146m
145m
+0.2%
Shares outstanding at period end
115m
112m
110m
+2.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,097
887
601
+23.6%
Non-controlling interest
n/a
n/a
4.8
Debt
0.0
n/a
0.0
Other liabilities
156
164
128
-4.9%
Total liabilities and equity
1,252
1,051
735
+19.2%
Fixed assets
256
215
163
+19.1%
Goodwill
25.3
5.2
26.3
+389.1%
Intangible assets
2.9
4.1
5.5
-29.4%
Cash and equivalents
699
590
409
+18.4%
Receivables
11.9
6.4
5.2
+87.4%
Inventory
189
155
104
+21.6%
Other assets
69.2
75.4
21.1
-8.1%
Total assets
1,252
1,051
735
+19.2%
10-K for the year ended 2 February 2014, filed 27 March 2014: the filing.