Novanta (NOVT) FY2013 results: revenue $317 million, up 30.0% on the year
Novanta Inc. (NOVT) reported revenue of $317 million for fiscal 2013, the year ended 31 December 2013, up 30.0% on the year before. Net income was $7 million, down 62.6%, and diluted earnings per share $0.21. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2016.
Revenue
$317 million
+30.0% on the year
FY2009FY2013
Operating margin
6.1%
8.3% a year earlier
FY2009FY2013
Net income
$7 million
-62.6% on the year
FY2009FY2013
Diluted EPS
$0.21
-63.8% 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
317
244
304
+30.0%
Cost of revenue
185
138
171
+33.6%
Gross profit
132
106
133
+25.3%
Gross margin
41.7%
43.3%
43.7%
Research and development
23.8
18.5
23.5
+28.4%
Selling, general and administrative
76.3
59.7
67.9
+27.9%
Operating income
19.4
20.3
35.8
-4.0%
Operating margin
6.1%
8.3%
11.8%
Interest expense
n/a
n/a
13.1
Pre-tax income
16.2
16.7
24.2
-3.1%
Income tax
6.2
-11.6
2.5
Effective tax rate
38.3%
-69.4%
10.5%
Net income
7.3
19.5
29.0
-62.6%
Net margin
2.3%
8.0%
9.5%
Diluted EPS
$0.21
$0.58
$0.86
-63.8%
$ 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
49.2
28.4
45.2
+73.1%
Capital expenditure
4.8
3.5
4.2
+35.7%
Free cash flow
44.4
24.9
41.0
+78.3%
Free cash flow margin
14.0%
10.2%
13.5%
Cash from investing
-73.0
3.0
-4.2
Cash from financing
18.6
-21.1
-43.1
Depreciation and amortisation
19.9
13.7
15.3
+45.9%
Share-based compensation
5.4
4.5
3.3
+20.0%
Buybacks
0.5
n/a
n/a
Diluted shares, weighted
34m
34m
34m
+1.4%
Shares outstanding at period end
34m
34m
33m
+0.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
242
228
209
+6.2%
Non-controlling interest
0.4
0.4
0.4
+5.5%
Short-term borrowings
n/a
n/a
10.0
Debt
71.5
50.0
68.0
+43.0%
Other liabilities
64.9
59.3
61.1
+9.5%
Total liabilities and equity
379
337
349
+12.3%
Fixed assets
31.3
32.3
36.0
-3.2%
Goodwill
71.2
44.6
44.6
+59.6%
Intangible assets
65.3
40.0
45.8
+63.2%
Cash and equivalents
61.0
65.8
54.8
-7.3%
Receivables
48.6
42.7
38.8
+13.8%
Inventory
58.3
52.8
51.5
+10.4%
Other assets
43.2
59.3
77.0
-27.1%
Total assets
379
337
349
+12.3%
10-K for the year ended 31 December 2013, filed 2 March 2016: the filing.