Materion (MTRN) FY2017 results: revenue $1.1 billion, up 17.6% on the year
Materion Corp. (MTRN) reported revenue of $1.1 billion for fiscal 2017, the year ended 31 December 2017, up 17.6% on the year before. Net income was $11 million, down 55.5%, and diluted earnings per share $0.56. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$1.1 billion
+17.6% on the year
FY2010FY2017
Operating margin
3.5%
3.0% a year earlier
FY2010FY2017
Net income
$11 million
-55.5% on the year
FY2010FY2017
Diluted EPS
$0.56
-55.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,139
969
1,025
+17.6%
Cost of revenue
927
785
834
+18.1%
Gross profit
213
185
191
+15.3%
Gross margin
18.7%
19.0%
18.6%
Research and development
14.0
12.8
12.8
+9.2%
Selling, general and administrative
144
129
130
+11.9%
Operating income
40.0
28.9
45.3
+38.6%
Operating margin
3.5%
3.0%
4.4%
Pre-tax income
36.4
25.3
42.8
+43.8%
Income tax
24.9
-0.4
10.7
Effective tax rate
68.5%
-1.7%
24.9%
Net income
11.5
25.7
32.2
-55.5%
Net margin
1.0%
2.7%
3.1%
Diluted EPS
$0.56
$1.27
$1.58
-55.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
67.8
68.2
91.0
-0.6%
Capital expenditure
27.5
27.2
29.5
+1.2%
Free cash flow
40.3
41.0
61.5
-1.8%
Free cash flow margin
3.5%
4.2%
6.0%
Cash from investing
-43.4
-37.4
-52.0
Cash from financing
-15.4
-23.1
-26.9
Depreciation and amortisation
42.8
45.7
38.5
-6.4%
Share-based compensation
5.0
3.2
5.5
+56.2%
Buybacks
1.1
3.8
7.1
-71.4%
Dividends paid
7.9
7.5
7.1
+5.6%
Dividend per share
$0.40
$0.38
$0.35
+5.3%
Diluted shares, weighted
20m
20m
20m
+1.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
527
494
483
+6.7%
Short-term borrowings
0.8
0.7
9.0
+6.0%
Debt
3.8
4.6
13.6
-17.3%
Other liabilities
259
242
237
+7.2%
Total liabilities and equity
791
741
743
+6.7%
Fixed assets
256
253
264
+1.2%
Goodwill
90.7
87.0
86.7
+4.3%
Intangible assets
9.8
11.1
13.4
-11.1%
Cash and equivalents
41.8
31.5
24.2
+33.0%
Receivables
124
101
97.2
+23.0%
Inventory
220
201
212
+9.7%
Other assets
48.8
57.5
45.6
-15.2%
Total assets
791
741
743
+6.7%
10-K for the year ended 31 December 2017, filed 14 February 2019: the filing.