Revvity (RVTY) FY2019 results: revenue $2.9 billion, up 3.8% on the year
Revvity, Inc. (RVTY) reported revenue of $2.9 billion for fiscal 2019, the year ended 29 December 2019, up 3.8% on the year before. Net income was $228 million, down 4.4%, and diluted earnings per share $2.04. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2020.
Revenue
$2.9 billion
+3.8% on the year
FY2012FY2019
Operating margin
12.6%
11.7% a year earlier
FY2012FY2019
Net income
$228 million
-4.4% on the year
FY2012FY2019
Diluted EPS
$2.04
-4.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,884
2,778
2,257
+3.8%
Cost of revenue
1,488
1,437
1,184
+3.5%
Gross profit
1,396
1,341
1,073
+4.1%
Gross margin
48.4%
48.3%
47.5%
Research and development
189
194
139
-2.4%
Selling, general and administrative
815
812
626
+0.4%
Operating income
362
324
296
+11.8%
Operating margin
12.6%
11.7%
13.1%
Interest expense
63.6
67.0
43.9
-5.0%
Pre-tax income
237
258
297
-8.0%
Income tax
9.4
20.2
140
-53.5%
Effective tax rate
4.0%
7.8%
47.1%
Net income
228
238
293
-4.4%
Net margin
7.9%
8.6%
13.0%
Diluted EPS
$2.04
$2.13
$2.64
-4.2%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
363
311
288
+16.9%
Capital expenditure
76.3
93.3
39.1
-18.1%
Free cash flow
287
218
249
+31.8%
Free cash flow margin
10.0%
7.8%
11.0%
Cash from investing
-488
-160
-1,267
Cash from financing
-150
-179
782
Depreciation and amortisation
214
181
105
+18.5%
Share-based compensation
31.5
28.8
25.4
+9.5%
Buybacks
6.3
57.4
3.8
-89.0%
Dividends paid
31.1
31.0
30.8
+0.2%
Dividend per share
$0.28
$0.28
$0.28
0.0%
Diluted shares, weighted
112m
112m
111m
-0.0%
Shares outstanding at period end
111m
111m
110m
0.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,814
2,585
2,503
+8.9%
Debt
2,074
1,891
2,006
+9.7%
Operating lease liabilities
146
0.0
n/a
Other liabilities
1,504
1,499
1,582
+0.3%
Total liabilities and equity
6,539
5,976
6,091
+9.4%
Fixed assets
318
319
298
-0.1%
Goodwill
3,111
2,953
3,002
+5.4%
Intangible assets
1,283
1,200
1,347
+7.0%
Investments
2.9
2.4
2.2
+18.8%
Cash and equivalents
192
163
202
+17.6%
Receivables
725
633
552
+14.6%
Inventory
357
338
352
+5.5%
Other assets
549
368
336
+49.1%
Total assets
6,539
5,976
6,091
+9.4%
10-K for the year ended 29 December 2019, filed 25 February 2020: the filing.