Nordson (NDSN) FY2014 results: revenue $1.7 billion, up 10.4% on the year
Nordson Corp. (NDSN) reported revenue of $1.7 billion for fiscal 2014, the year ended 31 October 2014, up 10.4% on the year before. Net income was $247 million, up 11.3%, and diluted earnings per share $3.84. The figures are the company's own, from the 10-K it filed with the SEC on 15 December 2014.
Revenue
$1.7 billion
+10.4% on the year
FY2008FY2014
Operating margin
21.5%
21.0% a year earlier
FY2008FY2014
Net income
$247 million
+11.3% on the year
FY2008FY2014
Diluted EPS
$3.84
+12.3% on the year
FY2008FY2014
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
1,704
1,543
1,410
+10.4%
Cost of revenue
759
677
586
+12.1%
Gross profit
945
866
823
+9.1%
Gross margin
55.5%
56.1%
58.4%
Research and development
47.5
48.0
36.5
-0.9%
Selling, general and administrative
575
541
488
+6.3%
Operating income
367
324
335
+13.4%
Operating margin
21.5%
21.0%
23.8%
Interest expense
15.0
14.8
11.2
+1.3%
Pre-tax income
353
311
326
+13.3%
Income tax
106
89.3
101
+18.4%
Effective tax rate
30.0%
28.7%
31.1%
Net income
247
222
225
+11.3%
Net margin
14.5%
14.4%
16.0%
Diluted EPS
$3.84
$3.42
$3.45
+12.3%
$ 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
288
268
274
+7.4%
Capital expenditure
43.6
47.2
31.0
-7.7%
Free cash flow
245
221
243
+10.6%
Free cash flow margin
14.4%
14.3%
17.3%
Cash from investing
n/a
-221
-467
Cash from financing
n/a
-52.4
197
Depreciation and amortisation
59.8
54.4
39.0
+9.8%
Share-based compensation
17.4
11.8
10.4
+48.0%
Buybacks
166
33.4
88.5
+398.3%
Dividends paid
48.4
40.5
33.8
+19.5%
Dividend per share
$0.76
$0.63
$0.53
+20.6%
Diluted shares, weighted
64m
65m
65m
-1.0%
Shares outstanding at period end
62m
64m
64m
-2.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
905
888
670
+1.9%
Debt
800
653
634
+22.6%
Other liabilities
576
513
526
+12.3%
Total liabilities and equity
2,280
2,053
1,830
+11.1%
Fixed assets
224
201
175
+11.7%
Goodwill
1,053
939
813
+12.1%
Intangible assets
291
269
228
+8.3%
Investments
n/a
n/a
0.3
Cash and equivalents
42.3
42.4
41.2
-0.1%
Receivables
366
309
325
+18.5%
Inventory
211
198
170
+6.3%
Other assets
92.8
94.4
78.2
-1.7%
Total assets
2,280
2,053
1,830
+11.1%
10-K for the year ended 31 October 2014, filed 15 December 2014: the filing.