New York Times (NYT) FY2014 results: revenue $1.6 billion, up 0.7% on the year
New York Times Co. (NYT) reported revenue of $1.6 billion for fiscal 2014, the year ended 28 December 2014, up 0.7% on the year before. Net income was $33 million, down 48.8%, and diluted earnings per share $0.20. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2015.
Revenue
$1.6 billion
+0.7% on the year
FY2008FY2014
Operating margin
5.8%
9.9% a year earlier
FY2008FY2014
Net income
$33 million
-48.8% on the year
FY2008FY2014
Diluted EPS
$0.20
-51.2% on the year
FY2008FY2014
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
1,589
1,577
1,595
+0.7%
Cost of revenue
644
627
651
+2.7%
Gross profit
945
950
944
-0.6%
Gross margin
59.5%
60.3%
59.2%
Selling, general and administrative
761
706
711
+7.7%
Operating income
91.9
156
104
-41.1%
Operating margin
5.8%
9.9%
6.5%
Pre-tax income
29.9
94.8
259
-68.5%
Income tax
-3.5
37.9
94.6
Effective tax rate
-11.9%
40.0%
36.6%
Net income
33.3
65.1
136
-48.8%
Net margin
2.1%
4.1%
8.5%
Diluted EPS
$0.20
$0.41
$0.89
-51.2%
$ 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
80.5
34.9
79.3
+130.9%
Capital expenditure
35.4
16.9
34.9
+108.7%
Free cash flow
45.1
17.9
44.4
+152.0%
Free cash flow margin
2.8%
1.1%
2.8%
Cash from investing
-325
-354
647
Cash from financing
-61.4
-19.3
-80.9
Depreciation and amortisation
79.5
85.5
104
-7.0%
Share-based compensation
8.9
8.7
4.7
+1.6%
Buybacks
0.0
0.0
n/a
Dividends paid
24.9
6.0
0.0
+311.6%
Dividend per share
$0.16
$0.08
$0.00
+100.0%
Diluted shares, weighted
161m
158m
153m
+2.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
726
843
662
-13.8%
Non-controlling interest
2.0
3.6
3.3
-44.2%
Debt
643
677
690
-5.0%
Other liabilities
1,195
1,049
1,451
+13.9%
Total liabilities and equity
2,566
2,573
2,806
-0.2%
Fixed assets
666
713
773
-6.7%
Goodwill
116
126
123
-7.5%
Investments
805
541
139
+48.7%
Cash and equivalents
177
483
820
-63.4%
Receivables
213
202
198
+5.1%
Inventory
n/a
n/a
7.3
Other assets
590
507
745
+16.4%
Total assets
2,566
2,573
2,806
-0.2%
10-K for the year ended 28 December 2014, filed 24 February 2015: the filing.