Materion (MTRN) FY2013 results: revenue $1.2 billion, down 8.3% on the year
Materion Corp. (MTRN) reported revenue of $1.2 billion for fiscal 2013, the year ended 31 December 2013, down 8.3% on the year before. Net income was $20 million, down 18.1%, and diluted earnings per share $0.97. The figures are the company's own, from the 10-K it filed with the SEC on 14 March 2014.
Revenue
$1.2 billion
-8.3% on the year
FY2009FY2013
Operating margin
2.4%
2.9% a year earlier
FY2009FY2013
Net income
$20 million
-18.1% on the year
FY2009FY2013
Diluted EPS
$0.97
-18.5% on the year
FY2009FY2013
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
1,167
1,273
1,527
-8.3%
Cost of revenue
979
1,074
1,311
-8.9%
Gross profit
188
199
215
-5.4%
Gross margin
16.1%
15.6%
14.1%
Research and development
13.4
12.5
11.1
+7.4%
Selling, general and administrative
132
134
131
-1.1%
Operating income
27.6
36.8
57.1
-24.9%
Operating margin
2.4%
2.9%
3.7%
Pre-tax income
24.6
33.6
54.3
-27.0%
Income tax
4.4
9.0
14.3
-51.4%
Effective tax rate
17.7%
26.7%
26.3%
Net income
20.2
24.7
40.0
-18.1%
Net margin
1.7%
1.9%
2.6%
Diluted EPS
$0.97
$1.19
$1.93
-18.5%
$ 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
75.9
38.6
56.8
+96.6%
Capital expenditure
27.8
34.1
28.2
-18.3%
Free cash flow
48.1
4.5
28.6
+960.8%
Free cash flow margin
4.1%
0.4%
1.9%
Cash from investing
-32.6
-43.4
-50.0
Cash from financing
-36.2
8.5
-10.6
Depreciation and amortisation
42.3
37.0
43.6
+14.3%
Share-based compensation
5.0
5.9
5.0
-15.7%
Buybacks
0.0
0.1
3.8
Dividends paid
6.5
4.6
0.0
+40.8%
Dividend per share
$0.32
$0.23
$0.00
+40.0%
Diluted shares, weighted
21m
21m
21m
+1.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
464
416
406
+11.5%
Debt
64.8
94.3
81.4
-31.3%
Other liabilities
249
304
285
-18.3%
Total liabilities and equity
778
815
772
-4.5%
Fixed assets
262
273
264
-3.9%
Goodwill
86.7
88.8
84.0
-2.3%
Intangible assets
24.2
28.9
35.0
-16.0%
Cash and equivalents
22.8
16.1
12.3
+41.8%
Receivables
113
126
118
-10.6%
Inventory
233
206
187
+12.9%
Other assets
36.5
76.1
72.1
-52.0%
Total assets
778
815
772
-4.5%
10-K for the year ended 31 December 2013, filed 14 March 2014: the filing.