Marzetti (MZTI) FY2014 results: revenue $1.0 billion, up 2.7% on the year
Marzetti Co. (MZTI) reported revenue of $1.0 billion for fiscal 2014, the year ended 30 June 2014, up 2.7% on the year before. Net income was $75 million, down 31.4%, and diluted earnings per share $2.74. The figures are the company's own, from the 10-K it filed with the SEC on 28 August 2014.
Revenue
$1.0 billion
+2.7% on the year
FY2009FY2014
Operating margin
14.8%
15.2% a year earlier
FY2009FY2014
Net income
$75 million
-31.4% on the year
FY2009FY2014
Diluted EPS
$2.74
-31.3% 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
1,041
1,014
989
+2.7%
Cost of revenue
793
769
766
+3.0%
Gross profit
249
245
223
+1.6%
Gross margin
23.9%
24.1%
22.6%
Selling, general and administrative
94.8
90.8
82.2
+4.4%
Operating income
154
154
141
-0.1%
Operating margin
14.8%
15.2%
14.3%
Pre-tax income
153
154
141
-0.4%
Income tax
52.3
50.0
48.9
+4.7%
Effective tax rate
34.1%
32.5%
34.6%
Net income
75.0
109
95.8
-31.4%
Net margin
7.2%
10.8%
9.7%
Diluted EPS
$2.74
$3.99
$3.51
-31.3%
$ 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
129
132
122
-2.0%
Capital expenditure
16.0
24.1
16.3
-33.9%
Free cash flow
113
108
106
+5.2%
Free cash flow margin
10.9%
10.6%
10.7%
Cash from investing
8.5
-22.4
-16.6
Cash from financing
-49.4
-178
-46.5
Depreciation and amortisation
20.4
20.1
20.3
+1.5%
Share-based compensation
2.5
2.9
2.9
-14.8%
Buybacks
3.1
0.6
8.3
+412.3%
Dividends paid
47.0
178
38.5
-73.6%
Dividend per share
$1.72
$6.52
$1.41
-73.6%
Diluted shares, weighted
27m
27m
27m
+0.1%
Shares outstanding at period end
27m
27m
27m
+0.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
529
501
564
+5.5%
Debt
n/a
0.0
0.0
Other liabilities
98.7
119
118
-16.9%
Total liabilities and equity
627
620
683
+1.2%
Fixed assets
169
168
184
+0.4%
Goodwill
89.8
89.8
89.8
0.0%
Intangible assets
5.4
6.3
7.3
-15.0%
Cash and equivalents
212
123
192
+71.4%
Receivables
57.8
56.3
73.3
+2.6%
Inventory
74.5
67.8
110
+9.9%
Other assets
19.5
108
26.7
-81.9%
Total assets
627
620
683
+1.2%
10-K for the year ended 30 June 2014, filed 28 August 2014: the filing.