Insight Enterprises (NSIT) FY2013 results: revenue $5.1 billion, down 3.0% on the year
Insight Enterprises Inc. (NSIT) reported revenue of $5.1 billion for fiscal 2013, the year ended 31 December 2013, down 3.0% on the year before. Net income was $71 million, down 23.4%, and diluted earnings per share $1.64. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$5.1 billion
-3.0% on the year
FY2009FY2013
Operating margin
2.4%
2.8% a year earlier
FY2009FY2013
Net income
$71 million
-23.4% on the year
FY2009FY2013
Diluted EPS
$1.64
-20.8% 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
5,144
5,301
5,287
-3.0%
Cost of revenue
4,445
4,582
4,578
-3.0%
Gross profit
699
720
709
-2.9%
Gross margin
13.6%
13.6%
13.4%
Selling, general and administrative
565
565
557
-0.1%
Operating income
121
148
147
-18.2%
Operating margin
2.4%
2.8%
2.8%
Interest expense
6.3
6.1
6.9
+3.9%
Pre-tax income
115
145
142
-20.8%
Income tax
43.5
51.9
41.5
-16.2%
Effective tax rate
38.0%
35.9%
29.3%
Net income
71.0
92.8
100
-23.4%
Net margin
1.4%
1.7%
1.9%
Diluted EPS
$1.64
$2.07
$2.18
-20.8%
$ 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
76.1
67.4
116
+12.8%
Capital expenditure
19.0
30.2
27.1
-36.9%
Free cash flow
57.0
37.3
88.6
+53.0%
Free cash flow margin
1.1%
0.7%
1.7%
Cash from investing
-19.0
-34.0
-40.9
Cash from financing
-75.7
-14.6
-68.0
Depreciation and amortisation
41.5
41.2
39.1
+0.9%
Share-based compensation
6.4
8.5
7.9
-24.8%
Buybacks
57.8
n/a
50.0
Diluted shares, weighted
43m
45m
46m
-3.4%
Shares outstanding at period end
42m
45m
44m
-5.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
717
705
597
+1.6%
Debt
66.9
80.0
117
-16.3%
Other liabilities
1,084
1,216
1,144
-10.9%
Total liabilities and equity
1,868
2,002
1,858
-6.7%
Fixed assets
133
144
141
-7.5%
Goodwill
26.3
26.3
26.3
0.0%
Intangible assets
35.8
47.4
59.0
-24.6%
Cash and equivalents
127
152
128
-16.6%
Receivables
1,258
1,371
1,208
-8.3%
Other assets
288
261
295
+10.5%
Total assets
1,868
2,002
1,858
-6.7%
10-K for the year ended 31 December 2013, filed 21 February 2014: the filing.