Teledyne Technologies (TDY) FY2018 results: revenue $2.9 billion, up 11.4% on the year
Teledyne Technologies Inc. (TDY) reported revenue of $2.9 billion for fiscal 2018, the year ended 30 December 2018, up 11.4% on the year before. Net income was $334 million, up 46.9%, and diluted earnings per share $9.01. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$2.9 billion
+11.4% on the year
FY2011FY2018
Operating margin
14.4%
12.4% a year earlier
FY2011FY2018
Net income
$334 million
+46.9% on the year
FY2011FY2018
Diluted EPS
$9.01
+43.9% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
2,902
2,604
2,150
+11.4%
Cost of revenue
1,791
1,624
1,330
+10.3%
Gross profit
1,111
980
820
+13.4%
Gross margin
38.3%
37.6%
38.2%
Selling, general and administrative
694
658
580
+5.5%
Operating income
417
322
240
+29.5%
Operating margin
14.4%
12.4%
11.2%
Interest expense
29.2
35.5
23.6
-17.7%
Pre-tax income
394
287
241
+37.2%
Income tax
60.1
59.8
50.4
+0.5%
Effective tax rate
15.3%
20.8%
20.9%
Net income
334
227
191
+46.9%
Net margin
11.5%
8.7%
8.9%
Diluted EPS
$9.01
$6.26
$5.37
+43.9%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
447
375
317
+19.3%
Capital expenditure
86.8
58.5
87.6
+48.4%
Free cash flow
360
316
229
+13.9%
Free cash flow margin
12.4%
12.1%
10.7%
Cash from investing
-88.6
-831
-151
Cash from financing
-271
414
-145
Depreciation and amortisation
113
113
87.3
0.0%
Buybacks
n/a
0.0
0.0
Diluted shares, weighted
37m
36m
36m
+1.9%
Shares outstanding at period end
36m
36m
35m
+1.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,230
1,947
1,554
+14.5%
Debt
748
1,064
618
-29.7%
Other liabilities
832
835
602
-0.4%
Total liabilities and equity
3,809
3,846
2,774
-1.0%
Fixed assets
443
443
341
-0.0%
Goodwill
1,735
1,777
1,194
-2.3%
Intangible assets
193
242
132
-20.5%
Cash and equivalents
142
70.9
98.6
+101.0%
Receivables
416
388
384
+7.3%
Inventory
364
400
314
-9.0%
Other assets
515
525
311
-1.8%
Total assets
3,809
3,846
2,774
-1.0%
10-K for the year ended 30 December 2018, filed 25 February 2019: the filing.