NetApp (NTAP) FY2013 results: revenue $6.3 billion, up 1.6% on the year
NetApp, Inc. (NTAP) reported revenue of $6.3 billion for fiscal 2013, the year ended 26 April 2013, up 1.6% on the year before. Net income was $505 million, down 16.5%, and diluted earnings per share $1.37. The figures are the company's own, from the 10-K it filed with the SEC on 17 June 2013.
Revenue
$6.3 billion
+1.6% on the year
FY2009FY2013
Operating margin
9.6%
12.0% a year earlier
FY2009FY2013
Net income
$505 million
-16.5% on the year
FY2009FY2013
Diluted EPS
$1.37
-13.3% 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
6,332
6,233
5,123
+1.6%
Cost of revenue
2,571
2,520
1,794
+2.0%
Gross profit
3,761
3,713
3,329
+1.3%
Gross margin
59.4%
59.6%
65.0%
Research and development
904
828
649
+9.2%
Operating income
608
746
824
-18.6%
Operating margin
9.6%
12.0%
16.1%
Interest expense
91.7
74.7
75.9
+22.8%
Pre-tax income
567
712
794
-20.5%
Income tax
61.3
107
121
-42.7%
Effective tax rate
10.8%
15.0%
15.2%
Net income
505
605
673
-16.5%
Net margin
8.0%
9.7%
13.1%
Diluted EPS
$1.37
$1.58
$1.71
-13.3%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,386
1,463
1,346
-5.2%
Capital expenditure
303
407
223
-25.5%
Free cash flow
1,083
1,056
1,124
+2.6%
Free cash flow margin
17.1%
16.9%
21.9%
Cash from investing
n/a
-2,310
-777
Cash from financing
n/a
-344
451
Depreciation and amortisation
259
293
166
-11.7%
Share-based compensation
277
258
175
+7.4%
Buybacks
590
600
0.0
-1.7%
Dividends paid
0.0
0.0
n/a
Diluted shares, weighted
368m
384m
394m
-4.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
4,718
4,294
3,730
+9.9%
Debt
2,252
1,202
1,150
+87.3%
Other liabilities
4,272
4,036
3,618
+5.8%
Total liabilities and equity
11,242
9,532
8,499
+17.9%
Fixed assets
1,171
1,137
912
+3.0%
Goodwill
988
905
760
+9.2%
Intangible assets
181
236
53.0
-23.5%
Investments
3,718
3,900
2,482
-4.7%
Cash and equivalents
3,277
1,550
2,757
+111.5%
Receivables
801
831
743
-3.6%
Inventory
140
162
108
-13.6%
Other assets
968
812
683
+19.2%
Total assets
11,242
9,532
8,499
+17.9%
10-K for the year ended 26 April 2013, filed 17 June 2013: the filing.