Teledyne Technologies (TDY) FY2017 results: revenue $2.6 billion, up 21.1% on the year
Teledyne Technologies Inc. (TDY) reported revenue of $2.6 billion for fiscal 2017, the year ended 31 December 2017, up 21.1% on the year before. Net income was $227 million, up 19.0%, and diluted earnings per share $6.26. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2018.
Revenue
$2.6 billion
+21.1% on the year
FY2010FY2017
Operating margin
12.4%
11.2% a year earlier
FY2010FY2017
Net income
$227 million
+19.0% on the year
FY2010FY2017
Diluted EPS
$6.26
+16.6% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
2,604
2,150
2,298
+21.1%
Cost of revenue
1,624
1,330
1,428
+22.2%
Gross profit
980
820
870
+19.4%
Gross margin
37.6%
38.2%
37.9%
Selling, general and administrative
658
580
589
+13.5%
Operating income
322
240
282
+33.8%
Operating margin
12.4%
11.2%
12.3%
Interest expense
35.5
23.6
24.0
+50.4%
Pre-tax income
287
241
258
+18.9%
Income tax
59.8
50.4
62.7
+18.7%
Effective tax rate
20.8%
20.9%
24.3%
Net income
227
191
196
+19.0%
Net margin
8.7%
8.9%
8.5%
Diluted EPS
$6.26
$5.37
$5.44
+16.6%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
375
317
210
+18.2%
Capital expenditure
58.5
87.6
47.0
-33.2%
Free cash flow
316
229
163
+37.8%
Free cash flow margin
12.1%
10.7%
7.1%
Cash from investing
-831
-151
-110
Cash from financing
414
-145
-145
Depreciation and amortisation
113
87.3
90.3
+29.4%
Buybacks
0.0
0.0
244
Diluted shares, weighted
36m
36m
36m
+2.3%
Shares outstanding at period end
36m
35m
35m
+1.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,947
1,554
1,344
+25.3%
Non-controlling interest
n/a
n/a
0.0
Debt
1,064
618
781
+72.2%
Other liabilities
835
602
594
+38.7%
Total liabilities and equity
3,846
2,774
2,718
+38.6%
Fixed assets
443
341
321
+29.9%
Goodwill
1,777
1,194
1,140
+48.9%
Intangible assets
242
132
141
+83.2%
Cash and equivalents
70.9
98.6
85.1
-28.1%
Receivables
388
384
373
+1.2%
Inventory
400
314
309
+27.4%
Other assets
525
311
348
+68.7%
Total assets
3,846
2,774
2,718
+38.6%
10-K for the year ended 31 December 2017, filed 27 February 2018: the filing.