Scansource (SCSC) FY2013 results: revenue $2.9 billion, down 4.6% on the year
Scansource, Inc. (SCSC) reported revenue of $2.9 billion for fiscal 2013, the year ended 30 June 2013, down 4.6% on the year before. Net income was $35 million, down 53.3%, and diluted earnings per share $1.24. The figures are the company's own, from the 10-K it filed with the SEC on 26 August 2013.
Revenue
$2.9 billion
-4.6% on the year
FY2009FY2013
Operating margin
1.8%
3.8% a year earlier
FY2009FY2013
Net income
$35 million
-53.3% on the year
FY2009FY2013
Diluted EPS
$1.24
-53.7% on the year
FY2009FY2013
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
2,877
3,015
2,667
-4.6%
Cost of revenue
2,584
2,713
2,392
-4.8%
Gross profit
293
302
274
-3.0%
Gross margin
10.2%
10.0%
10.3%
Selling, general and administrative
191
188
161
+1.5%
Operating income
51.0
114
113
-55.0%
Operating margin
1.8%
3.8%
4.2%
Interest expense
0.8
1.6
1.7
-52.7%
Pre-tax income
53.0
111
112
-52.3%
Income tax
18.4
36.9
38.4
-50.3%
Effective tax rate
34.6%
33.2%
34.3%
Net income
34.7
74.3
73.5
-53.3%
Net margin
1.2%
2.5%
2.8%
Diluted EPS
$1.24
$2.68
$2.70
-53.7%
$ 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
129
60.0
10.7
+115.9%
Capital expenditure
4.8
12.8
14.9
-62.2%
Free cash flow
125
47.2
-4.2
+164.2%
Free cash flow margin
4.3%
1.6%
-0.2%
Cash from investing
-4.8
-12.8
-51.1
Cash from financing
-5.0
-42.3
33.7
Depreciation and amortisation
8.5
9.6
6.5
-11.7%
Share-based compensation
5.6
6.8
4.9
-17.9%
Buybacks
0.0
n/a
n/a
Diluted shares, weighted
28m
28m
27m
+0.9%
Shares outstanding at period end
28m
28m
27m
+1.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
696
652
587
+6.7%
Short-term borrowings
0.0
n/a
n/a
Debt
5.4
9.7
60.1
-44.0%
Other liabilities
463
540
535
-14.3%
Total liabilities and equity
1,164
1,202
1,182
-3.1%
Fixed assets
20.2
48.8
36.8
-58.6%
Goodwill
31.8
53.9
59.1
-41.0%
Intangible assets
19.8
25.5
32.4
-22.4%
Trading assets
n/a
n/a
12.9
Cash and equivalents
148
29.2
28.7
+407.9%
Receivables
435
458
462
-5.1%
Inventory
402
488
467
-17.6%
Other assets
107
98.2
82.8
+8.9%
Total assets
1,164
1,202
1,182
-3.1%
10-K for the year ended 30 June 2013, filed 26 August 2013: the filing.