Resmed (RMD) FY2014 results: revenue $1.6 billion, up 2.7% on the year
Resmed Inc. (RMD) reported revenue of $1.6 billion for fiscal 2014, the year ended 30 June 2014, up 2.7% on the year before. Net income was $345 million, up 12.4%, and diluted earnings per share $2.39. The figures are the company's own, from the 10-K it filed with the SEC on 8 August 2014.
Revenue
$1.6 billion
+2.7% on the year
FY2009FY2014
Operating margin
26.1%
23.4% a year earlier
FY2009FY2014
Net income
$345 million
+12.4% on the year
FY2009FY2014
Diluted EPS
$2.39
+13.8% 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
1,555
1,514
1,369
+2.7%
Cost of revenue
565
574
548
-1.5%
Gross profit
990
941
821
+5.2%
Gross margin
63.7%
62.1%
60.0%
Research and development
118
120
110
-1.6%
Selling, general and administrative
450
431
403
+4.6%
Operating income
405
355
294
+14.2%
Operating margin
26.1%
23.4%
21.5%
Interest expense
6.1
6.4
4.8
-4.0%
Pre-tax income
431
385
332
+11.9%
Income tax
85.8
78.0
77.1
+10.0%
Effective tax rate
19.9%
20.2%
23.2%
Net income
345
307
255
+12.4%
Net margin
22.2%
20.3%
18.6%
Diluted EPS
$2.39
$2.10
$1.71
+13.8%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
391
403
383
-2.9%
Capital expenditure
72.7
63.6
47.1
+14.4%
Free cash flow
319
339
336
-6.1%
Free cash flow margin
20.5%
22.4%
24.6%
Cash from investing
n/a
-78.0
-102
Cash from financing
n/a
-154
-177
Depreciation and amortisation
73.5
78.3
85.9
-6.2%
Share-based compensation
43.5
38.2
30.6
+13.9%
Buybacks
202
186
393
+8.5%
Dividends paid
142
97.2
n/a
+45.6%
Dividend per share
$1.00
$0.68
n/a
+47.1%
Diluted shares, weighted
144m
146m
149m
-1.4%
Shares outstanding at period end
140m
142m
142m
-1.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,758
1,611
1,608
+9.2%
Debt
301
301
251
+0.0%
Other liabilities
302
299
279
+0.8%
Total liabilities and equity
2,361
2,211
2,138
+6.8%
Fixed assets
434
411
434
+5.6%
Goodwill
289
275
256
+5.3%
Intangible assets
45.2
49.6
54.8
-8.9%
Cash and equivalents
906
876
810
+3.4%
Receivables
360
318
283
+13.0%
Inventory
165
146
174
+13.4%
Other assets
161
135
125
+20.0%
Total assets
2,361
2,211
2,138
+6.8%
10-K for the year ended 30 June 2014, filed 8 August 2014: the filing.