Resmed (RMD) FY2013 results: revenue $1.5 billion, up 10.7% on the year
Resmed Inc. (RMD) reported revenue of $1.5 billion for fiscal 2013, the year ended 30 June 2013, up 10.7% on the year before. Net income was $307 million, up 20.5%, and diluted earnings per share $2.10. The figures are the company's own, from the 10-K it filed with the SEC on 8 August 2014.
Revenue
$1.5 billion
+10.7% on the year
FY2009FY2013
Operating margin
23.4%
21.5% a year earlier
FY2009FY2013
Net income
$307 million
+20.5% on the year
FY2009FY2013
Diluted EPS
$2.10
+22.8% on the year
FY2009FY2013
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
1,514
1,369
1,243
+10.7%
Cost of revenue
574
548
502
+4.8%
Gross profit
941
821
741
+14.6%
Gross margin
62.1%
60.0%
59.6%
Research and development
120
110
92.0
+9.5%
Selling, general and administrative
431
403
372
+7.0%
Operating income
355
294
267
+20.5%
Operating margin
23.4%
21.5%
21.5%
Interest expense
6.4
4.8
1.8
+33.5%
Pre-tax income
385
332
304
+16.0%
Income tax
78.0
77.1
76.7
+1.2%
Effective tax rate
20.2%
23.2%
25.3%
Net income
307
255
227
+20.5%
Net margin
20.3%
18.6%
18.3%
Diluted EPS
$2.10
$1.71
$1.44
+22.8%
$ 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
403
383
283
+5.1%
Capital expenditure
63.6
47.1
66.6
+34.9%
Free cash flow
339
336
217
+1.0%
Free cash flow margin
22.4%
24.6%
17.4%
Cash from investing
-78.0
-102
-76.5
Cash from financing
-154
-177
-79.3
Depreciation and amortisation
78.3
85.9
70.6
-8.8%
Share-based compensation
38.2
30.6
30.8
+24.8%
Buybacks
186
393
163
-52.6%
Dividends paid
97.2
n/a
n/a
Dividend per share
$0.68
n/a
n/a
Diluted shares, weighted
146m
149m
157m
-1.9%
Shares outstanding at period end
142m
142m
152m
-0.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,611
1,608
1,731
+0.2%
Debt
301
251
100
+19.9%
Other liabilities
299
279
238
+7.2%
Total liabilities and equity
2,211
2,138
2,069
+3.4%
Fixed assets
411
434
462
-5.3%
Goodwill
275
256
235
+7.3%
Intangible assets
49.6
54.8
47.9
-9.5%
Securities held for sale or to maturity
n/a
n/a
0.0
Cash and equivalents
876
810
735
+8.2%
Receivables
318
283
274
+12.4%
Inventory
146
174
201
-16.3%
Other assets
135
125
113
+7.3%
Total assets
2,211
2,138
2,069
+3.4%
10-K for the year ended 30 June 2013, filed 8 August 2014: the filing.