Revvity (RVTY) FY2014 results: revenue $2.1 billion, down 4.1% on the year
Revvity, Inc. (RVTY) reported revenue of $2.1 billion for fiscal 2014, the year ended 28 December 2014, down 4.1% on the year before. Net income was $158 million, down 5.6%, and diluted earnings per share $1.39. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2015.
Revenue
$2.1 billion
-4.1% on the year
FY2008FY2014
Operating margin
8.0%
10.6% a year earlier
FY2008FY2014
Net income
$158 million
-5.6% on the year
FY2008FY2014
Diluted EPS
$1.39
-5.4% 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
2,070
2,158
2,105
-4.1%
Cost of revenue
1,135
1,181
1,144
-3.9%
Gross profit
935
977
962
-4.3%
Gross margin
45.2%
45.3%
45.7%
Research and development
108
132
132
-18.4%
Selling, general and administrative
648
582
627
+11.4%
Operating income
165
228
103
-27.6%
Operating margin
8.0%
10.6%
4.9%
Interest expense
36.3
49.9
45.8
-27.3%
Pre-tax income
124
164
55.2
-24.3%
Income tax
-6.3
-10.6
-16.1
Effective tax rate
-5.1%
-6.5%
-29.2%
Net income
158
167
69.9
-5.6%
Net margin
7.6%
7.7%
3.3%
Diluted EPS
$1.39
$1.47
$0.61
-5.4%
$ 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
282
159
152
+77.6%
Capital expenditure
27.2
39.0
42.4
-30.4%
Free cash flow
254
120
110
+112.7%
Free cash flow margin
12.3%
5.5%
5.2%
Cash from investing
-296
-1.2
-80.3
Cash from financing
30.9
-154
-44.2
Depreciation and amortisation
110
127
125
-12.9%
Share-based compensation
14.1
14.1
20.6
+0.0%
Buybacks
65.5
127
2.1
-48.6%
Dividends paid
31.6
31.6
31.9
+0.1%
Dividend per share
$0.28
$0.28
$0.28
0.0%
Diluted shares, weighted
114m
114m
115m
+0.2%
Shares outstanding at period end
112m
113m
115m
-0.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,042
1,994
1,940
+2.4%
Debt
1,053
935
941
+12.6%
Other liabilities
1,039
1,017
1,021
+2.1%
Total liabilities and equity
4,134
3,947
3,902
+4.7%
Fixed assets
176
183
211
-3.8%
Goodwill
2,244
2,143
2,123
+4.7%
Intangible assets
490
460
530
+6.5%
Investments
1.6
1.3
1.1
+18.9%
Cash and equivalents
175
175
173
0.0%
Receivables
471
467
457
+0.8%
Inventory
285
261
248
+9.4%
Other assets
291
256
159
+13.7%
Total assets
4,134
3,947
3,902
+4.7%
10-K for the year ended 28 December 2014, filed 24 February 2015: the filing.