Revvity (RVTY) FY2018 results: revenue $2.8 billion, up 23.1% on the year
Revvity, Inc. (RVTY) reported revenue of $2.8 billion for fiscal 2018, the year ended 30 December 2018, up 23.1% on the year before. Net income was $238 million, down 18.7%, and diluted earnings per share $2.13. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$2.8 billion
+23.1% on the year
FY2011FY2018
Operating margin
11.7%
13.1% a year earlier
FY2011FY2018
Net income
$238 million
-18.7% on the year
FY2011FY2018
Diluted EPS
$2.13
-19.3% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
2,778
2,257
2,116
+23.1%
Cost of revenue
1,437
1,184
1,102
+21.4%
Gross profit
1,341
1,073
1,013
+25.0%
Gross margin
48.3%
47.5%
47.9%
Research and development
194
139
124
+39.2%
Selling, general and administrative
812
626
590
+29.7%
Operating income
324
296
295
+9.6%
Operating margin
11.7%
13.1%
13.9%
Interest expense
67.0
43.9
41.5
+52.4%
Pre-tax income
258
297
244
-13.2%
Income tax
20.2
140
28.4
-85.5%
Effective tax rate
7.8%
47.1%
11.6%
Net income
238
293
234
-18.7%
Net margin
8.6%
13.0%
11.1%
Diluted EPS
$2.13
$2.64
$2.12
-19.3%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
311
288
351
+7.8%
Capital expenditure
93.3
39.1
31.7
+138.6%
Free cash flow
218
249
319
-12.7%
Free cash flow margin
7.8%
11.0%
15.1%
Cash from investing
-160
-1,267
-83.9
Cash from financing
-179
782
-115
Depreciation and amortisation
181
105
100.0
+72.0%
Share-based compensation
28.8
25.4
17.2
+13.2%
Buybacks
57.4
3.8
152
+1,398.3%
Dividends paid
31.0
30.8
30.8
+0.7%
Dividend per share
$0.28
$0.28
$0.28
0.0%
Diluted shares, weighted
112m
111m
110m
+0.6%
Shares outstanding at period end
111m
110m
112m
+0.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,585
2,503
2,154
+3.3%
Debt
1,891
2,006
1,046
-5.7%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
1,499
1,582
1,077
-5.3%
Total liabilities and equity
5,976
6,091
4,277
-1.9%
Fixed assets
319
298
145
+6.9%
Goodwill
2,953
3,002
2,248
-1.7%
Intangible assets
1,200
1,347
420
-10.9%
Investments
2.4
2.2
1.7
+10.8%
Cash and equivalents
163
202
359
-19.3%
Receivables
633
552
426
+14.6%
Inventory
338
352
247
-3.8%
Other assets
368
336
430
+9.6%
Total assets
5,976
6,091
4,277
-1.9%
10-K for the year ended 30 December 2018, filed 26 February 2019: the filing.