Eplus (PLUS) FY2019 results: revenue $1.4 billion, down 3.3% on the year
Eplus Inc. (PLUS) reported revenue of $1.4 billion for fiscal 2019, the year ended 31 March 2019, down 3.3% on the year before. Net income was $63 million, up 14.6%, and diluted earnings per share $2.33. The figures are the company's own, from the 10-K it filed with the SEC on 23 May 2019.
Revenue
$1.4 billion
-3.3% on the year
FY2012FY2019
Operating margin
5.8%
5.9% a year earlier
FY2012FY2019
Net income
$63 million
+14.6% on the year
FY2012FY2019
Diluted EPS
$2.33
+17.7% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,373
1,419
1,329
-3.3%
Cost of revenue
1,042
1,095
1,032
-4.8%
Gross profit
330
323
300
+2.1%
Gross margin
24.1%
22.8%
22.5%
Selling, general and administrative
237
228
205
+3.9%
Operating income
79.5
84.2
85.7
-5.6%
Operating margin
5.8%
5.9%
6.4%
Interest expense
1.9
1.2
1.5
+63.0%
Pre-tax income
86.2
83.9
86.1
+2.8%
Income tax
23.0
28.8
35.6
-19.9%
Effective tax rate
26.7%
34.3%
41.3%
Net income
63.2
55.1
50.6
+14.6%
Net margin
4.6%
3.9%
3.8%
Diluted EPS
$2.33
$1.98
$1.80
+17.7%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
39.4
82.8
33.0
-52.4%
Cash from investing
-96.2
-57.7
-26.3
Cash from financing
18.5
-16.8
7.8
Depreciation and amortisation
18.6
15.8
11.7
+17.8%
Share-based compensation
7.2
6.5
6.0
+12.1%
Buybacks
18.8
35.2
30.5
-46.8%
Dividends paid
0.0
0.0
0.0
Diluted shares, weighted
27m
28m
28m
-2.8%
Shares outstanding at period end
27m
28m
28m
-1.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
424
373
346
+13.9%
Debt
48.6
52.3
37.4
-6.9%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
313
331
358
-5.2%
Total liabilities and equity
786
755
742
+4.1%
Fixed assets
7.3
7.5
6.7
-2.6%
Goodwill
111
76.6
48.4
+44.6%
Intangible assets
38.9
26.3
12.2
+48.0%
Cash and equivalents
79.8
118
110
-32.5%
Receivables
300
268
n/a
+11.8%
Inventory
50.5
39.9
93.6
+26.7%
Other assets
199
219
471
-9.0%
Total assets
786
755
742
+4.1%
10-K for the year ended 31 March 2019, filed 23 May 2019: the filing.