Power Integrations (POWI) FY2013 results: revenue $347 million, up 13.7% on the year
Power Integrations Inc. (POWI) reported revenue of $347 million for fiscal 2013, the year ended 31 December 2013, up 13.7% on the year before. Net income was $57 million, and diluted earnings per share $0.94. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2014.
Revenue
$347 million
+13.7% on the year
FY2008FY2013
Operating margin
15.6%
3.7% a year earlier
FY2008FY2013
Net income
$57 million
FY2008FY2013
Diluted EPS
$0.94
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
347
305
299
+13.7%
Cost of revenue
164
155
158
+5.8%
Gross profit
183
151
141
+21.7%
Gross margin
52.8%
49.3%
47.1%
Research and development
51.7
45.7
40.3
+13.0%
Operating income
54.1
11.4
43.2
+376.3%
Operating margin
15.6%
3.7%
14.5%
Interest expense
0.0
0.0
0.0
+1,050.0%
Pre-tax income
55.4
-20.8
45.1
Income tax
-1.8
13.6
10.8
Effective tax rate
-3.3%
n/a
24.0%
Net income
57.3
-34.4
34.3
Net margin
16.5%
-11.3%
11.5%
Diluted EPS
$0.94
-$0.60
$0.57
$ 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
98.7
51.8
69.2
+90.4%
Capital expenditure
14.0
16.4
23.2
-14.7%
Free cash flow
84.7
35.5
46.0
+138.8%
Free cash flow margin
24.4%
11.6%
15.4%
Cash from investing
-90.7
-125
-52.3
Cash from financing
21.5
-3.6
-32.7
Depreciation and amortisation
23.5
20.4
16.3
+15.0%
Share-based compensation
16.5
14.2
9.0
+15.9%
Buybacks
0.0
20.5
50.0
Dividends paid
9.4
5.8
5.7
+64.1%
Dividend per share
$0.04
n/a
n/a
Diluted shares, weighted
61m
57m
60m
+6.2%
Shares outstanding at period end
60m
57m
56m
+5.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
437
341
365
+28.0%
Debt
0.0
0.0
0.0
Other liabilities
64.7
58.1
68.4
+11.5%
Total liabilities and equity
501
399
433
+25.6%
Fixed assets
90.1
89.7
88.2
+0.5%
Goodwill
80.6
80.6
14.8
0.0%
Intangible assets
40.3
47.7
8.9
-15.5%
Investments
109
31.8
72.9
+243.7%
Cash and equivalents
92.9
63.4
140
+46.6%
Receivables
12.4
7.3
9.4
+69.1%
Inventory
42.2
44.6
52.0
-5.4%
Other assets
33.6
34.0
46.9
-1.0%
Total assets
501
399
433
+25.6%
10-K for the year ended 31 December 2013, filed 13 February 2014: the filing.