New York Times (NYT) FY2013 results: revenue $1.6 billion, down 1.1% on the year
New York Times Co. (NYT) reported revenue of $1.6 billion for fiscal 2013, the year ended 29 December 2013, down 1.1% on the year before. Net income was $65 million, down 52.1%, and diluted earnings per share $0.41. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2014.
Revenue
$1.6 billion
-1.1% on the year
FY2008FY2013
Operating margin
9.9%
6.5% a year earlier
FY2008FY2013
Net income
$65 million
-52.1% on the year
FY2008FY2013
Diluted EPS
$0.41
-53.9% on the year
FY2008FY2013
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
1,577
1,595
1,555
-1.1%
Cost of revenue
627
651
640
-3.7%
Gross profit
950
944
914
+0.7%
Gross margin
60.3%
59.2%
58.8%
Selling, general and administrative
706
711
688
-0.7%
Operating income
156
104
127
+50.6%
Operating margin
9.9%
6.5%
8.2%
Pre-tax income
94.8
259
66.0
-63.3%
Income tax
37.9
94.6
21.4
-60.0%
Effective tax rate
40.0%
36.6%
32.4%
Net income
65.1
136
-37.6
-52.1%
Net margin
4.1%
8.5%
-2.4%
Diluted EPS
$0.41
$0.89
-$0.25
-53.9%
$ 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
34.9
79.3
73.9
-56.1%
Capital expenditure
16.9
34.9
44.9
-51.4%
Free cash flow
17.9
44.4
29.0
-59.7%
Free cash flow margin
1.1%
2.8%
1.9%
Cash from investing
-354
647
-18.3
Cash from financing
-19.3
-80.9
-250
Depreciation and amortisation
85.5
104
116
-17.6%
Share-based compensation
8.7
4.7
8.5
+86.3%
Buybacks
0.0
n/a
0.0
Dividends paid
6.0
0.0
0.0
Dividend per share
$0.08
$0.00
$0.00
Diluted shares, weighted
158m
153m
152m
+3.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
843
662
506
+27.3%
Non-controlling interest
3.6
3.3
3.1
+9.5%
Debt
677
690
766
-1.8%
Other liabilities
1,049
1,451
1,608
-27.7%
Total liabilities and equity
2,573
2,806
2,883
-8.3%
Fixed assets
713
773
937
-7.8%
Goodwill
126
123
122
+2.6%
Intangible assets
n/a
n/a
17.6
Investments
541
139
105
+288.5%
Cash and equivalents
483
820
175
-41.2%
Receivables
202
198
247
+2.4%
Inventory
n/a
7.3
17.8
Other assets
507
745
1,262
-32.0%
Total assets
2,573
2,806
2,883
-8.3%
10-K for the year ended 29 December 2013, filed 26 February 2014: the filing.