Power Integrations (POWI) FY2014 results: revenue $349 million, up 0.5% on the year
Power Integrations Inc. (POWI) reported revenue of $349 million for fiscal 2014, the year ended 31 December 2014, up 0.5% on the year before. Net income was $60 million, up 4.0%, and diluted earnings per share $0.96. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2015.
Revenue
$349 million
+0.5% on the year
FY2008FY2014
Operating margin
16.0%
15.6% a year earlier
FY2008FY2014
Net income
$60 million
+4.0% on the year
FY2008FY2014
Diluted EPS
$0.96
+2.7% 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
349
347
305
+0.5%
Cost of revenue
159
164
155
-2.8%
Gross profit
190
183
151
+3.5%
Gross margin
54.3%
52.8%
49.3%
Research and development
55.0
51.7
45.7
+6.4%
Operating income
55.8
54.1
11.4
+3.2%
Operating margin
16.0%
15.6%
3.7%
Interest expense
0.0
0.0
0.0
Pre-tax income
56.8
55.4
-20.8
+2.5%
Income tax
-2.7
-1.8
13.6
Effective tax rate
-4.8%
-3.3%
n/a
Net income
59.5
57.3
-34.4
+4.0%
Net margin
17.1%
16.5%
-11.3%
Diluted EPS
$0.96
$0.94
-$0.60
+2.7%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
85.6
98.7
51.8
-13.3%
Capital expenditure
23.1
14.0
16.4
+65.3%
Free cash flow
62.5
84.7
35.5
-26.2%
Free cash flow margin
17.9%
24.4%
11.6%
Cash from investing
-38.1
-90.7
-125
Cash from financing
-79.6
21.5
-3.6
Depreciation and amortisation
22.0
23.5
20.4
-6.5%
Share-based compensation
14.3
16.5
14.2
-13.4%
Buybacks
80.8
0.0
20.5
Dividends paid
13.2
9.4
5.8
+39.4%
Dividend per share
n/a
$0.04
n/a
Diluted shares, weighted
62m
61m
57m
+1.3%
Shares outstanding at period end
58m
60m
57m
-2.7%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
431
437
341
-1.4%
Debt
0.0
0.0
0.0
Other liabilities
63.0
64.7
58.1
-2.7%
Total liabilities and equity
494
501
399
-1.5%
Fixed assets
95.8
90.1
89.7
+6.3%
Goodwill
80.6
80.6
80.6
0.0%
Intangible assets
35.5
40.3
47.7
-11.9%
Investments
115
109
31.8
+4.9%
Cash and equivalents
60.7
92.9
63.4
-34.7%
Receivables
10.2
12.4
7.3
-17.8%
Inventory
64.0
42.2
44.6
+51.6%
Other assets
32.2
33.6
34.0
-4.1%
Total assets
494
501
399
-1.5%
10-K for the year ended 31 December 2014, filed 10 February 2015: the filing.