Teledyne Technologies (TDY) FY2013 results: revenue $2.3 billion, up 9.9% on the year
Teledyne Technologies Inc. (TDY) reported revenue of $2.3 billion for fiscal 2013, the year ended 29 December 2013, up 9.9% on the year before. Net income was $185 million, up 12.7%, and diluted earnings per share $4.87. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2014.
Revenue
$2.3 billion
+9.9% on the year
FY2008FY2013
Operating margin
10.3%
11.4% a year earlier
FY2008FY2013
Net income
$185 million
+12.7% on the year
FY2008FY2013
Diluted EPS
$4.87
+10.9% on the year
FY2008FY2013
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
2,339
2,127
1,942
+9.9%
Cost of revenue
1,500
1,379
1,291
+8.8%
Gross profit
839
748
651
+12.1%
Gross margin
35.9%
35.2%
33.5%
Selling, general and administrative
598
505
424
+18.5%
Operating income
240
243
227
-1.2%
Operating margin
10.3%
11.4%
11.7%
Interest expense
20.9
18.2
16.7
+14.8%
Pre-tax income
224
228
212
-1.8%
Income tax
39.5
65.4
69.5
-39.6%
Effective tax rate
17.6%
28.7%
32.8%
Net income
185
164
255
+12.7%
Net margin
7.9%
7.7%
13.1%
Diluted EPS
$4.87
$4.39
$6.84
+10.9%
$ 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
203
190
217
+7.3%
Capital expenditure
72.6
65.3
41.7
+11.2%
Free cash flow
131
124
175
+5.2%
Free cash flow margin
5.6%
5.8%
9.0%
Cash from investing
-195
-453
-272
Cash from financing
11.1
260
29.6
-95.7%
Depreciation and amortisation
91.1
78.3
64.2
+16.3%
Share-based compensation
n/a
n/a
5.8
Buybacks
0.0
0.0
34.9
Diluted shares, weighted
38m
37m
37m
+1.6%
Shares outstanding at period end
38m
36m
36m
+3.9%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,472
1,148
979
+28.2%
Non-controlling interest
47.0
55.6
4.8
-15.5%
Debt
538
543
298
-1.0%
Other liabilities
694
660
544
+5.2%
Total liabilities and equity
2,751
2,406
1,826
+14.3%
Fixed assets
358
350
255
+2.3%
Goodwill
1,038
990
718
+4.8%
Intangible assets
168
172
124
-1.9%
Cash and equivalents
66.0
45.8
49.4
+44.1%
Receivables
378
350
270
+7.9%
Inventory
294
281
219
+4.7%
Other assets
449
218
191
+106.2%
Total assets
2,751
2,406
1,826
+14.3%
10-K for the year ended 29 December 2013, filed 25 February 2014: the filing.