Scansource (SCSC) FY2014 results: revenue $2.9 billion, up 1.3% on the year
Scansource, Inc. (SCSC) reported revenue of $2.9 billion for fiscal 2014, the year ended 30 June 2014, up 1.3% on the year before. Net income was $82 million, up 136.0%, and diluted earnings per share $2.86. The figures are the company's own, from the 10-K it filed with the SEC on 28 August 2014.
Revenue
$2.9 billion
+1.3% on the year
FY2009FY2014
Operating margin
4.2%
1.8% a year earlier
FY2009FY2014
Net income
$82 million
+136.0% on the year
FY2009FY2014
Diluted EPS
$2.86
+130.6% on the year
FY2009FY2014
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
2,914
2,877
3,015
+1.3%
Cost of revenue
2,613
2,584
2,713
+1.1%
Gross profit
301
293
302
+2.8%
Gross margin
10.3%
10.2%
10.0%
Selling, general and administrative
192
191
188
+0.7%
Operating income
122
51.0
114
+138.6%
Operating margin
4.2%
1.8%
3.8%
Interest expense
0.7
0.8
1.6
-5.7%
Pre-tax income
123
53.0
111
+132.2%
Income tax
41.3
18.4
36.9
+125.0%
Effective tax rate
33.6%
34.6%
33.2%
Net income
81.8
34.7
74.3
+136.0%
Net margin
2.8%
1.2%
2.5%
Diluted EPS
$2.86
$1.24
$2.68
+130.6%
$ 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
47.7
129
60.0
-63.1%
Capital expenditure
11.2
4.8
12.8
+132.4%
Free cash flow
36.5
125
47.2
-70.7%
Free cash flow margin
1.3%
4.3%
1.6%
Cash from investing
-11.2
-4.8
-12.8
Cash from financing
9.3
-5.0
-42.3
Depreciation and amortisation
7.4
8.5
9.6
-12.8%
Share-based compensation
5.2
5.6
6.8
-6.6%
Buybacks
0.0
0.0
n/a
Diluted shares, weighted
29m
28m
28m
+2.2%
Shares outstanding at period end
29m
28m
28m
+2.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
803
696
652
+15.3%
Short-term borrowings
0.0
0.0
n/a
Debt
5.4
5.4
9.7
0.0%
Other liabilities
527
463
540
+13.9%
Total liabilities and equity
1,335
1,164
1,202
+14.7%
Fixed assets
31.8
20.2
48.8
+57.5%
Goodwill
32.3
31.8
53.9
+1.7%
Intangible assets
16.0
19.8
25.5
-19.3%
Cash and equivalents
195
148
29.2
+31.5%
Receivables
464
435
458
+6.8%
Inventory
505
402
488
+25.5%
Other assets
91.0
107
98.2
-14.9%
Total assets
1,335
1,164
1,202
+14.7%
10-K for the year ended 30 June 2014, filed 28 August 2014: the filing.