Novanta (NOVT) FY2014 results: revenue $365 million, up 15.1% on the year
Novanta Inc. (NOVT) reported revenue of $365 million for fiscal 2014, the year ended 31 December 2014, up 15.1% on the year before. Net income was -$24 million, and diluted earnings per share $-0.70. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2016.
Revenue
$365 million
+15.1% on the year
FY2009FY2014
Operating margin
-4.6%
6.1% a year earlier
FY2009FY2014
Net income
-$24 million
FY2009FY2014
Diluted EPS
-$0.70
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
365
317
244
+15.1%
Cost of revenue
215
185
138
+16.2%
Gross profit
150
132
106
+13.6%
Gross margin
41.2%
41.7%
43.3%
Research and development
29.0
23.8
18.5
+21.7%
Selling, general and administrative
84.4
76.3
59.7
+10.5%
Operating income
-16.8
19.4
20.3
Operating margin
-4.6%
6.1%
8.3%
Pre-tax income
-17.9
16.2
16.7
Income tax
-1.0
6.2
-11.6
Effective tax rate
n/a
38.3%
-69.4%
Net income
-24.3
7.3
19.5
Net margin
-6.6%
2.3%
8.0%
Diluted EPS
-$0.70
$0.21
$0.58
$ 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
42.3
49.2
28.4
-14.0%
Capital expenditure
5.4
4.8
3.5
+13.4%
Free cash flow
36.9
44.4
24.9
-17.0%
Free cash flow margin
10.1%
14.0%
10.2%
Cash from investing
-89.8
-73.0
3.0
Cash from financing
40.3
18.6
-21.1
+116.9%
Depreciation and amortisation
24.4
19.9
13.7
+22.4%
Share-based compensation
4.3
5.4
4.5
-20.5%
Buybacks
n/a
0.5
n/a
Diluted shares, weighted
34m
34m
34m
-0.1%
Shares outstanding at period end
34m
34m
34m
+0.7%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
211
242
228
-12.9%
Non-controlling interest
0.4
0.4
0.4
+2.4%
Debt
112
71.5
50.0
+57.2%
Other liabilities
72.7
64.9
59.3
+12.0%
Total liabilities and equity
396
379
337
+4.6%
Fixed assets
40.1
31.3
32.3
+28.1%
Goodwill
90.7
71.2
44.6
+27.5%
Intangible assets
67.2
65.3
40.0
+3.0%
Cash and equivalents
51.1
61.0
65.8
-16.1%
Receivables
51.5
48.6
42.7
+6.1%
Inventory
62.9
58.3
52.8
+8.0%
Other assets
32.6
43.2
59.3
-24.5%
Total assets
396
379
337
+4.6%
10-K for the year ended 31 December 2014, filed 2 March 2016: the filing.