Regal Rexnord (RRX) FY2014 results: revenue $3.3 billion, up 5.2% on the year
Regal Rexnord Corp. (RRX) reported revenue of $3.3 billion for fiscal 2014, the year ended 3 January 2015, up 5.2% on the year before. Net income was $31 million, down 74.2%, and diluted earnings per share $0.69. The figures are the company's own, from the 10-K it filed with the SEC on 4 March 2015.
Revenue
$3.3 billion
+5.2% on the year
FY2008FY2014
Operating margin
3.7%
6.7% a year earlier
FY2008FY2014
Net income
$31 million
-74.2% on the year
FY2008FY2014
Diluted EPS
$0.69
-73.9% 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
3,257
3,096
3,167
+5.2%
Cost of revenue
2,460
2,312
2,396
+6.4%
Gross profit
797
783
771
+1.8%
Gross margin
24.5%
25.3%
24.3%
Research and development
32.9
28.3
28.5
+16.3%
Operating income
122
208
313
-41.6%
Operating margin
3.7%
6.7%
9.9%
Interest expense
39.1
42.4
44.5
-7.8%
Pre-tax income
90.3
170
270
-47.0%
Income tax
54.2
44.5
69.6
+21.8%
Effective tax rate
60.0%
26.1%
25.8%
Net income
31.0
120
196
-74.2%
Net margin
1.0%
3.9%
6.2%
Diluted EPS
$0.69
$2.64
$4.64
-73.9%
$ 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
298
305
352
-2.2%
Capital expenditure
83.6
82.7
91.0
+1.1%
Free cash flow
215
222
261
-3.5%
Free cash flow margin
6.6%
7.2%
8.2%
Cash from investing
-205
-125
-198
Cash from financing
-218
-90.9
77.1
Depreciation and amortisation
139
128
126
+7.9%
Share-based compensation
11.9
11.4
9.0
+4.4%
Buybacks
35.0
0.0
0.0
Dividends paid
37.8
35.1
30.8
+7.7%
Dividend per share
$0.86
$0.79
$0.75
+8.9%
Diluted shares, weighted
45m
45m
42m
-0.2%
Shares outstanding at period end
45m
n/a
n/a
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,934
2,056
1,953
-5.9%
Non-controlling interest
44.9
46.2
43.1
-2.8%
Debt
632
767
818
-17.6%
Other liabilities
745
742
754
+0.5%
Total liabilities and equity
3,357
3,611
3,569
-7.0%
Fixed assets
532
573
573
-7.3%
Goodwill
1,004
1,082
1,151
-7.2%
Intangible assets
444
244
293
+82.0%
Cash and equivalents
334
466
375
-28.3%
Receivables
448
464
446
-3.5%
Inventory
692
619
557
+11.8%
Other assets
n/a
163
174
Total assets
3,357
3,611
3,569
-7.0%
10-K for the year ended 3 January 2015, filed 4 March 2015: the filing.