MSA Safety (MSA) FY2016 results: revenue $1.1 billion, up 1.7% on the year
MSA Safety Inc. (MSA) reported revenue of $1.1 billion for fiscal 2016, the year ended 31 December 2016, up 1.7% on the year before. Net income was $92 million, up 29.8%, and diluted earnings per share $2.42. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$1.1 billion
+1.7% on the year
FY2009FY2016
Operating margin
14.0%
10.9% a year earlier
FY2009FY2016
Net income
$92 million
+29.8% on the year
FY2009FY2016
Diluted EPS
$2.42
+29.4% on the year
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
1,150
1,130
1,134
+1.7%
Cost of revenue
627
630
619
-0.4%
Gross profit
522
501
515
+4.2%
Gross margin
45.4%
44.3%
45.4%
Research and development
46.8
48.6
48.2
-3.7%
Selling, general and administrative
308
315
323
-2.2%
Operating income
161
123
134
+30.9%
Operating margin
14.0%
10.9%
11.8%
Interest expense
16.4
10.9
9.9
+51.2%
Pre-tax income
152
111
127
+36.8%
Income tax
57.8
44.4
41.0
+30.2%
Effective tax rate
38.1%
40.0%
32.3%
Net income
91.9
70.8
88.5
+29.8%
Net margin
8.0%
6.3%
7.8%
Diluted EPS
$2.42
$1.87
$2.33
+29.4%
$ 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
135
55.3
107
+144.1%
Capital expenditure
25.5
36.2
33.6
-29.6%
Free cash flow
109
19.0
73.4
+475.2%
Free cash flow margin
9.5%
1.7%
6.5%
Cash from investing
-25.5
-208
-30.7
Cash from financing
-99.3
165
-58.1
Depreciation and amortisation
35.3
32.7
29.8
+7.9%
Share-based compensation
9.2
7.6
9.1
+21.2%
Dividends paid
49.1
47.4
45.6
+3.6%
Diluted shares, weighted
38m
38m
38m
+0.7%
Shares outstanding at period end
38m
37m
37m
+1.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
558
516
534
+8.1%
Non-controlling interest
3.0
0.6
4.8
+382.1%
Short-term borrowings
n/a
n/a
0.1
Debt
391
465
252
-16.0%
Other liabilities
402
443
474
-9.2%
Total liabilities and equity
1,354
1,425
1,265
-5.0%
Fixed assets
149
156
151
-4.6%
Goodwill
333
340
253
-2.1%
Intangible assets
77.0
90.1
31.3
-14.5%
Cash and equivalents
114
106
106
+7.4%
Receivables
210
233
211
-10.0%
Inventory
103
126
123
-18.1%
Other assets
369
374
389
-1.4%
Total assets
1,354
1,425
1,265
-5.0%
10-K for the year ended 31 December 2016, filed 22 February 2019: the filing.