MSA Safety (MSA) FY2015 results: revenue $1.1 billion, down 0.3% on the year
MSA Safety Inc. (MSA) reported revenue of $1.1 billion for fiscal 2015, the year ended 31 December 2015, down 0.3% on the year before. Net income was $71 million, down 20.0%, and diluted earnings per share $1.87. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$1.1 billion
-0.3% on the year
FY2008FY2015
Operating margin
10.9%
11.8% a year earlier
FY2008FY2015
Net income
$71 million
-20.0% on the year
FY2008FY2015
Diluted EPS
$1.87
-19.7% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
1,130
1,134
1,112
-0.3%
Cost of revenue
630
619
615
+1.8%
Gross profit
501
515
497
-2.8%
Gross margin
44.3%
45.4%
44.7%
Research and development
48.6
48.2
45.9
+0.8%
Selling, general and administrative
315
323
309
-2.3%
Operating income
123
134
120
-8.6%
Operating margin
10.9%
11.8%
10.8%
Interest expense
10.9
9.9
10.7
+10.2%
Pre-tax income
111
127
120
-12.7%
Income tax
44.4
41.0
35.1
+8.2%
Effective tax rate
40.0%
32.3%
29.3%
Net income
70.8
88.5
88.2
-20.0%
Net margin
6.3%
7.8%
7.9%
Diluted EPS
$1.87
$2.33
$2.34
-19.7%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
55.3
107
111
-48.4%
Capital expenditure
36.2
33.6
36.5
+7.9%
Free cash flow
19.0
73.4
74.3
-74.1%
Free cash flow margin
1.7%
6.5%
6.7%
Cash from investing
-208
-30.7
-35.2
Cash from financing
165
-58.1
-58.2
Depreciation and amortisation
32.7
29.8
30.8
+9.8%
Share-based compensation
7.6
9.1
10.3
-16.1%
Dividends paid
47.4
45.6
44.0
+3.9%
Diluted shares, weighted
38m
38m
37m
-0.0%
Shares outstanding at period end
37m
37m
37m
-0.2%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
516
534
566
-3.2%
Non-controlling interest
0.6
4.8
5.9
-86.9%
Short-term borrowings
n/a
0.1
0.8
Debt
465
252
267
+84.6%
Other liabilities
443
474
394
-6.6%
Total liabilities and equity
1,425
1,265
1,234
+12.7%
Fixed assets
156
151
153
+3.0%
Goodwill
340
253
260
+34.8%
Intangible assets
90.1
31.3
67.0
+187.5%
Cash and equivalents
106
106
96.3
-0.1%
Receivables
233
211
200
+10.1%
Inventory
126
123
137
+2.4%
Other assets
374
389
321
-3.9%
Total assets
1,425
1,265
1,234
+12.7%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.