Teledyne Technologies (TDY) FY2015 results: revenue $2.3 billion, down 4.0% on the year
Teledyne Technologies Inc. (TDY) reported revenue of $2.3 billion for fiscal 2015, the year ended 3 January 2016, down 4.0% on the year before. Net income was $196 million, down 10.1%, and diluted earnings per share $5.44. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2016.
Revenue
$2.3 billion
-4.0% on the year
FY2008FY2015
Operating margin
12.3%
12.3% a year earlier
FY2008FY2015
Net income
$196 million
-10.1% on the year
FY2008FY2015
Diluted EPS
$5.44
-5.4% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
2,298
2,394
2,339
-4.0%
Cost of revenue
1,428
1,487
1,500
-4.0%
Gross profit
870
907
839
-4.0%
Gross margin
37.9%
37.9%
35.9%
Selling, general and administrative
589
612
598
-3.9%
Operating income
282
294
240
-4.3%
Operating margin
12.3%
12.3%
10.3%
Interest expense
24.0
19.1
20.9
+25.7%
Pre-tax income
258
282
224
-8.5%
Income tax
62.7
66.5
39.5
-5.7%
Effective tax rate
24.3%
23.6%
17.6%
Net income
196
218
185
-10.1%
Net margin
8.5%
9.1%
7.9%
Diluted EPS
$5.44
$5.75
$4.87
-5.4%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
210
288
203
-27.0%
Capital expenditure
47.0
43.5
72.6
+8.0%
Free cash flow
163
244
131
-33.2%
Free cash flow margin
7.1%
10.2%
5.6%
Cash from investing
-110
-239
-195
Cash from financing
-145
30.4
11.1
Depreciation and amortisation
90.3
94.3
91.1
-4.2%
Buybacks
244
147
0.0
+66.3%
Diluted shares, weighted
36m
38m
38m
-5.0%
Shares outstanding at period end
35m
37m
38m
-5.8%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,344
1,427
1,472
-5.8%
Non-controlling interest
0.0
41.2
47.0
Debt
781
705
538
+10.7%
Other liabilities
594
689
694
-13.8%
Total liabilities and equity
2,718
2,862
2,751
-5.0%
Fixed assets
321
336
358
-4.5%
Goodwill
1,140
1,151
1,038
-0.9%
Intangible assets
141
172
168
-17.8%
Cash and equivalents
85.1
141
66.0
-39.8%
Receivables
373
401
378
-6.9%
Inventory
309
312
294
-0.8%
Other assets
348
349
449
-0.3%
Total assets
2,718
2,862
2,751
-5.0%
10-K for the year ended 3 January 2016, filed 1 March 2016: the filing.