Super Micro Computer (SMCI) FY2014 results: revenue $1.5 billion, up 26.2% on the year
Super Micro Computer, Inc. (SMCI) reported revenue of $1.5 billion for fiscal 2014, the year ended 30 June 2014, up 26.2% on the year before. Net income was $54 million, up 154.5%, and diluted earnings per share $0.12. The figures are the company's own, from the 10-K it filed with the SEC on 15 September 2014.
Revenue
$1.5 billion
+26.2% on the year
FY2010FY2014
Operating margin
5.5%
2.3% a year earlier
FY2010FY2014
Net income
$54 million
+154.5% on the year
FY2010FY2014
Diluted EPS
$0.12
+141.7% on the year
FY2010FY2014
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
1,467
1,163
1,014
+26.2%
Cost of revenue
1,242
1,003
848
+23.9%
Gross profit
226
160
165
+40.9%
Gross margin
15.4%
13.8%
16.3%
Research and development
84.3
75.2
64.2
+12.0%
Operating income
80.3
27.2
46.0
+195.5%
Operating margin
5.5%
2.3%
4.5%
Interest expense
0.8
0.6
0.7
+24.1%
Pre-tax income
79.6
26.6
45.4
+199.3%
Income tax
25.4
5.3
15.5
+378.4%
Effective tax rate
32.0%
20.0%
34.2%
Net income
54.2
21.3
29.9
+154.5%
Net margin
3.7%
1.8%
2.9%
Diluted EPS
$0.12
$0.05
$0.07
+141.7%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
6.5
13.6
16.5
-51.9%
Capital expenditure
40.6
5.0
24.9
+711.2%
Free cash flow
-34.0
8.6
-8.4
Free cash flow margin
-2.3%
0.7%
-0.8%
Cash from investing
-40.2
-5.1
-19.7
Cash from financing
37.2
3.8
13.8
+889.4%
Depreciation and amortisation
6.4
7.8
7.1
-18.8%
Share-based compensation
11.1
11.4
10.3
-2.6%
Diluted shares, weighted
465m
439m
442m
+5.9%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
469
374
338
+25.6%
Non-controlling interest
0.2
0.2
0.0
-3.3%
Short-term borrowings
n/a
n/a
10.6
Debt
46.3
35.2
32.8
+31.6%
Other liabilities
281
223
207
+25.7%
Total liabilities and equity
796
632
589
+25.9%
Fixed assets
131
95.9
97.4
+36.2%
Investments
2.6
2.6
2.9
+0.4%
Cash and equivalents
95.5
93.0
80.8
+2.6%
Receivables
213
149
102
+42.5%
Inventory
316
254
277
+24.3%
Other assets
39.0
37.2
29.3
+5.0%
Total assets
796
632
589
+25.9%
10-K for the year ended 30 June 2014, filed 15 September 2014: the filing.