Materion (MTRN) FY2014 results: revenue $1.1 billion, down 3.4% on the year
Materion Corp. (MTRN) reported revenue of $1.1 billion for fiscal 2014, the year ended 31 December 2014, down 3.4% on the year before. Net income was $42 million, up 108.4%, and diluted earnings per share $2.02. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$1.1 billion
-3.4% on the year
FY2009FY2014
Operating margin
5.1%
2.4% a year earlier
FY2009FY2014
Net income
$42 million
+108.4% on the year
FY2009FY2014
Diluted EPS
$2.02
+108.2% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
1,127
1,167
1,273
-3.4%
Cost of revenue
921
979
1,074
-5.9%
Gross profit
206
188
199
+9.5%
Gross margin
18.3%
16.1%
15.6%
Research and development
12.8
13.4
12.5
-4.3%
Selling, general and administrative
136
132
134
+3.0%
Operating income
57.6
27.6
36.8
+108.6%
Operating margin
5.1%
2.4%
2.9%
Pre-tax income
54.8
24.6
33.6
+123.0%
Income tax
12.7
4.4
9.0
+190.6%
Effective tax rate
23.1%
17.7%
26.7%
Net income
42.1
20.2
24.7
+108.4%
Net margin
3.7%
1.7%
1.9%
Diluted EPS
$2.02
$0.97
$1.19
+108.2%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
60.3
75.9
38.6
-20.6%
Capital expenditure
29.3
27.8
34.1
+5.3%
Free cash flow
31.0
48.1
4.5
-35.6%
Free cash flow margin
2.7%
4.1%
0.4%
Cash from investing
-27.5
-32.6
-43.4
Cash from financing
-40.9
-36.2
8.5
Depreciation and amortisation
43.5
42.3
37.0
+2.8%
Share-based compensation
4.8
5.0
5.9
-3.0%
Buybacks
22.3
0.0
0.1
Dividends paid
6.9
6.5
4.6
+5.7%
Dividend per share
$0.34
$0.32
$0.23
+6.3%
Diluted shares, weighted
21m
21m
21m
-0.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
458
464
416
-1.4%
Short-term borrowings
0.7
n/a
n/a
Debt
24.3
64.8
94.3
-62.6%
Other liabilities
279
249
304
+12.2%
Total liabilities and equity
762
778
815
-2.0%
Fixed assets
248
262
273
-5.5%
Goodwill
86.7
86.7
88.8
0.0%
Intangible assets
18.6
24.2
28.9
-23.5%
Cash and equivalents
13.2
22.8
16.1
-42.3%
Receivables
113
113
126
-0.2%
Inventory
232
233
206
-0.2%
Other assets
50.9
36.5
76.1
+39.4%
Total assets
762
778
815
-2.0%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.