Regal Rexnord (RRX) FY2013 results: revenue $3.1 billion, down 2.2% on the year
Regal Rexnord Corp. (RRX) reported revenue of $3.1 billion for fiscal 2013, the year ended 28 December 2013, down 2.2% on the year before. Net income was $120 million, down 38.7%, and diluted earnings per share $2.64. The figures are the company's own, from the 10-K it filed with the SEC on 4 March 2015.
Revenue
$3.1 billion
-2.2% on the year
FY2008FY2013
Operating margin
6.7%
9.9% a year earlier
FY2008FY2013
Net income
$120 million
-38.7% on the year
FY2008FY2013
Diluted EPS
$2.64
-43.1% on the year
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
3,096
3,167
2,808
-2.2%
Cost of revenue
2,312
2,396
2,142
-3.5%
Gross profit
783
771
666
+1.6%
Gross margin
25.3%
24.3%
23.7%
Research and development
28.3
28.5
21.8
-0.7%
Operating income
208
313
256
-33.5%
Operating margin
6.7%
9.9%
9.1%
Interest expense
42.4
44.5
31.1
-4.7%
Pre-tax income
170
270
226
-36.8%
Income tax
44.5
69.6
68.3
-36.1%
Effective tax rate
26.1%
25.8%
30.2%
Net income
120
196
152
-38.7%
Net margin
3.9%
6.2%
5.4%
Diluted EPS
$2.64
$4.64
$3.79
-43.1%
$ 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
305
352
265
-13.3%
Capital expenditure
82.7
91.0
57.6
-9.1%
Free cash flow
222
261
208
-14.7%
Free cash flow margin
7.2%
8.2%
7.4%
Cash from investing
-125
-198
-752
Cash from financing
-90.9
77.1
456
Depreciation and amortisation
128
126
98.2
+2.0%
Share-based compensation
11.4
9.0
14.3
+26.7%
Buybacks
0.0
0.0
n/a
Dividends paid
35.1
30.8
27.6
+14.0%
Dividend per share
$0.79
$0.75
$0.71
+5.3%
Diluted shares, weighted
45m
42m
40m
+7.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,056
1,953
1,536
+5.3%
Non-controlling interest
46.2
43.1
40.5
+7.2%
Debt
767
818
919
-6.2%
Other liabilities
742
754
771
-1.7%
Total liabilities and equity
3,611
3,569
3,267
+1.2%
Fixed assets
573
573
534
+0.1%
Goodwill
1,082
1,151
1,118
-6.0%
Intangible assets
244
293
316
-16.7%
Cash and equivalents
466
375
143
+24.2%
Receivables
464
446
424
+4.0%
Inventory
619
557
576
+11.1%
Other assets
163
174
156
-5.9%
Total assets
3,611
3,569
3,267
+1.2%
10-K for the year ended 28 December 2013, filed 4 March 2015: the filing.