PDF Solutions (PDFS) FY2014 results: revenue $100 million, down 1.3% on the year
PDF Solutions Inc. (PDFS) reported revenue of $100 million for fiscal 2014, the year ended 31 December 2014, down 1.3% on the year before. Net income was $18 million, down 11.8%, and diluted earnings per share $0.58. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2015.
Revenue
$100 million
-1.3% on the year
FY2009FY2014
Operating margin
27.8%
30.9% a year earlier
FY2009FY2014
Net income
$18 million
-11.8% on the year
FY2009FY2014
Diluted EPS
$0.58
-13.4% on the year
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
100
101
89.5
-1.3%
Cost of revenue
39.7
39.5
36.5
+0.6%
Gross profit
60.4
62.0
53.0
-2.5%
Gross margin
60.4%
61.1%
59.2%
Research and development
14.1
13.3
13.3
+5.6%
Selling, general and administrative
18.5
17.0
18.6
+8.4%
Operating income
27.8
31.4
19.1
-11.3%
Operating margin
27.8%
30.9%
21.4%
Pre-tax income
28.0
31.3
18.9
-10.7%
Income tax
9.5
10.4
-18.3
-8.5%
Effective tax rate
34.0%
33.2%
-97.1%
Net income
18.5
20.9
37.2
-11.8%
Net margin
18.4%
20.6%
41.6%
Diluted EPS
$0.58
$0.67
$1.25
-13.4%
$ 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
27.1
25.4
14.8
+6.8%
Capital expenditure
4.0
4.6
2.3
-14.5%
Free cash flow
23.1
20.7
12.4
+11.6%
Free cash flow margin
23.1%
20.4%
13.9%
Cash from investing
-3.7
-4.6
-1.4
Cash from financing
2.7
7.0
2.2
-61.0%
Depreciation and amortisation
2.0
1.4
0.5
+45.1%
Share-based compensation
8.5
6.7
4.9
+27.7%
Buybacks
3.6
n/a
4.4
Diluted shares, weighted
32m
31m
30m
+1.7%
Shares outstanding at period end
31m
30m
29m
+2.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
162
135
101
+20.1%
Debt
0.0
0.0
0.0
Other liabilities
15.6
16.5
23.2
-5.1%
Total liabilities and equity
177
151
124
+17.4%
Fixed assets
8.8
7.1
3.9
+25.0%
Goodwill
0.0
n/a
n/a
Intangible assets
0.0
0.0
0.1
Cash and equivalents
115
89.4
61.6
+29.2%
Receivables
37.7
34.9
34.0
+8.2%
Other assets
15.4
19.8
24.7
-22.3%
Total assets
177
151
124
+17.4%
10-K for the year ended 31 December 2014, filed 3 March 2015: the filing.