Mgic Investment (MTG) FY2013 results: revenue $1.0 billion, down 24.6% on the year
Mgic Investment Corp. (MTG) reported revenue of $1.0 billion for fiscal 2013, the year ended 31 December 2013, down 24.6% on the year before. Net income was -$50 million, and diluted earnings per share $-0.16. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$1.0 billion
-24.6% on the year
FY2008FY2013
Operating margin
-4.4%
-67.4% a year earlier
FY2008FY2013
Net income
-$50 million
FY2008FY2013
Diluted EPS
-$0.16
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
1,039
1,378
1,504
-24.6%
Operating income
-46.2
-929
-484
Operating margin
-4.4%
-67.4%
-32.2%
Interest expense
79.7
99.3
103
-19.8%
Pre-tax income
-46.2
-929
-484
Income tax
3.7
-1.6
1.6
Net income
-49.8
-927
-486
Net margin
-4.8%
-67.3%
-32.3%
Diluted EPS
-$0.16
-$4.59
-$2.42
$ 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
-972
-1,569
-1,884
Capital expenditure
0.8
n/a
n/a
Free cash flow
-972
n/a
n/a
Free cash flow margin
-93.5%
n/a
n/a
Cash from investing
-854
1,654
1,754
Cash from financing
1,131
-53.1
-179
Depreciation and amortisation
69.2
100
84.8
-30.9%
Share-based compensation
6.6
8.6
12.1
-23.3%
Dividends paid
0.0
0.0
0.0
Dividend per share
$0.00
$0.00
$0.00
Diluted shares, weighted
312m
202m
201m
+54.4%
Shares outstanding at period end
338m
202m
201m
+67.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
745
197
1,197
+278.1%
Other liabilities
4,857
5,377
6,019
-9.7%
Total liabilities and equity
5,601
5,574
7,216
+0.5%
Fixed assets
26.2
27.2
28.1
-3.7%
Securities held for sale or to maturity
4,864
4,227
5,821
+15.1%
Cash and equivalents
333
1,028
996
-67.6%
Other assets
379
292
371
+29.6%
Total assets
5,601
5,574
7,216
+0.5%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.