Teleflex (TFX) FY2013 results: revenue $1.7 billion, up 9.4% on the year
Teleflex Inc. (TFX) reported revenue of $1.7 billion for fiscal 2013, the year ended 31 December 2013, up 9.4% on the year before. Net income was $151 million, and diluted earnings per share $3.45. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2014.
Revenue
$1.7 billion
+9.4% on the year
FY2008FY2013
Operating margin
13.8%
-6.3% a year earlier
FY2008FY2013
Net income
$151 million
FY2008FY2013
Diluted EPS
$3.45
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
1,696
1,551
1,493
+9.4%
Cost of revenue
857
803
784
+6.8%
Gross profit
839
748
709
+12.1%
Gross margin
49.5%
48.2%
47.5%
Research and development
65.0
56.3
48.7
+15.6%
Selling, general and administrative
502
454
424
+10.5%
Operating income
233
-97.4
230
Operating margin
13.8%
-6.3%
15.4%
Interest expense
56.9
69.6
70.3
-18.2%
Pre-tax income
176
-165
145
Income tax
23.5
16.4
25.8
+43.5%
Effective tax rate
13.4%
n/a
17.8%
Net income
151
-190
323
Net margin
8.9%
-12.3%
21.7%
Diluted EPS
$3.45
-$4.65
$7.92
$ 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
228
187
94.5
+22.0%
Capital expenditure
63.6
65.4
44.6
-2.8%
Free cash flow
164
121
49.9
+35.4%
Free cash flow margin
9.7%
7.8%
3.3%
Depreciation and amortisation
108
94.9
96.5
+13.8%
Share-based compensation
11.9
8.6
4.5
+37.7%
Dividends paid
55.9
55.6
55.1
+0.6%
Dividend per share
$1.36
$1.36
$1.36
0.0%
Diluted shares, weighted
44m
41m
41m
+6.9%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,914
1,779
1,981
+7.6%
Non-controlling interest
2.5
2.6
2.2
-3.8%
Short-term borrowings
356
4.7
n/a
+7,480.6%
Debt
1,286
965
960
+33.3%
Other liabilities
650
988
982
-34.2%
Total liabilities and equity
4,209
3,739
3,924
+12.6%
Fixed assets
326
298
252
+9.4%
Goodwill
1,354
1,238
1,439
+9.3%
Intangible assets
1,256
1,059
880
+18.6%
Cash and equivalents
432
337
584
+28.2%
Receivables
295
298
286
-0.9%
Inventory
334
323
299
+3.2%
Other assets
212
186
185
+14.2%
Total assets
4,209
3,739
3,924
+12.6%
10-K for the year ended 31 December 2013, filed 24 February 2014: the filing.