Teledyne Technologies (TDY) FY2016 results: revenue $2.1 billion, down 6.4% on the year
Teledyne Technologies Inc. (TDY) reported revenue of $2.1 billion for fiscal 2016, the year ended 1 January 2017, down 6.4% on the year before. Net income was $191 million, down 2.5%, and diluted earnings per share $5.37. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2017.
Revenue
$2.1 billion
-6.4% on the year
FY2009FY2016
Operating margin
11.2%
12.3% a year earlier
FY2009FY2016
Net income
$191 million
-2.5% on the year
FY2009FY2016
Diluted EPS
$5.37
-1.3% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
2,150
2,298
2,394
-6.4%
Cost of revenue
1,330
1,428
1,487
-6.9%
Gross profit
820
870
907
-5.7%
Gross margin
38.2%
37.9%
37.9%
Selling, general and administrative
580
589
612
-1.5%
Operating income
240
282
294
-14.6%
Operating margin
11.2%
12.3%
12.3%
Interest expense
23.6
24.0
19.1
-1.7%
Pre-tax income
241
258
282
-6.5%
Income tax
50.4
62.7
66.5
-19.6%
Effective tax rate
20.9%
24.3%
23.6%
Net income
191
196
218
-2.5%
Net margin
8.9%
8.5%
9.1%
Diluted EPS
$5.37
$5.44
$5.75
-1.3%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
317
210
288
+50.8%
Capital expenditure
87.6
47.0
43.5
+86.4%
Free cash flow
229
163
244
+40.6%
Free cash flow margin
10.7%
7.1%
10.2%
Cash from investing
-151
-110
-239
Cash from financing
-145
-145
30.4
Depreciation and amortisation
87.3
90.3
94.3
-3.3%
Buybacks
0.0
244
147
Diluted shares, weighted
36m
36m
38m
-1.4%
Shares outstanding at period end
35m
35m
37m
+1.7%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,554
1,344
1,427
+15.6%
Non-controlling interest
n/a
0.0
41.2
Debt
618
781
705
-20.9%
Other liabilities
602
594
689
+1.4%
Total liabilities and equity
2,774
2,718
2,862
+2.1%
Fixed assets
341
321
336
+6.1%
Goodwill
1,194
1,140
1,151
+4.7%
Intangible assets
132
141
172
-6.4%
Cash and equivalents
98.6
85.1
141
+15.9%
Receivables
384
373
401
+2.9%
Inventory
314
309
312
+1.6%
Other assets
311
348
349
-10.6%
Total assets
2,774
2,718
2,862
+2.1%
10-K for the year ended 1 January 2017, filed 2 March 2017: the filing.