Marzetti (MZTI) FY2013 results: revenue $1.0 billion, up 2.5% on the year
Marzetti Co. (MZTI) reported revenue of $1.0 billion for fiscal 2013, the year ended 30 June 2013, up 2.5% on the year before. Net income was $109 million, up 14.0%, and diluted earnings per share $3.99. The figures are the company's own, from the 10-K it filed with the SEC on 29 August 2013.
Revenue
$1.0 billion
+2.5% on the year
FY2009FY2013
Operating margin
15.2%
14.3% a year earlier
FY2009FY2013
Net income
$109 million
+14.0% on the year
FY2009FY2013
Diluted EPS
$3.99
+13.7% 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
1,014
989
1,090
+2.5%
Cost of revenue
769
766
848
+0.5%
Gross profit
245
223
242
+9.5%
Gross margin
24.1%
22.6%
22.2%
Selling, general and administrative
90.8
82.2
95.4
+10.4%
Operating income
154
141
147
+9.0%
Operating margin
15.2%
14.3%
13.5%
Interest expense
n/a
n/a
0.0
Pre-tax income
154
141
162
+8.9%
Income tax
50.0
48.9
55.1
+2.2%
Effective tax rate
32.5%
34.6%
34.1%
Net income
109
95.8
106
+14.0%
Net margin
10.8%
9.7%
9.8%
Diluted EPS
$3.99
$3.51
$3.84
+13.7%
$ 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
132
122
147
+7.5%
Capital expenditure
24.1
16.3
35.3
+47.7%
Free cash flow
108
106
112
+1.4%
Free cash flow margin
10.6%
10.7%
10.3%
Cash from investing
-22.4
-16.6
-35.8
Cash from financing
-178
-46.5
-80.3
Depreciation and amortisation
20.1
20.3
18.9
-0.8%
Share-based compensation
2.9
2.9
2.3
-0.7%
Buybacks
0.6
8.3
43.1
-92.7%
Dividends paid
178
38.5
35.7
+362.9%
Dividend per share
$6.52
$1.41
$1.29
+362.4%
Diluted shares, weighted
27m
27m
28m
+0.1%
Shares outstanding at period end
27m
27m
27m
+0.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
501
564
518
-11.2%
Debt
0.0
0.0
0.0
Other liabilities
119
118
105
+0.3%
Total liabilities and equity
620
683
622
-9.2%
Fixed assets
168
184
185
-8.7%
Goodwill
89.8
89.8
89.8
0.0%
Intangible assets
6.3
7.3
8.3
-13.0%
Cash and equivalents
123
192
132
-35.6%
Receivables
56.3
73.3
63.8
-23.2%
Inventory
67.8
110
112
-38.2%
Other assets
108
26.7
30.7
+304.7%
Total assets
620
683
622
-9.2%
10-K for the year ended 30 June 2013, filed 29 August 2013: the filing.