Teleflex (TFX) FY2014 results: revenue $1.8 billion, up 8.5% on the year
Teleflex Inc. (TFX) reported revenue of $1.8 billion for fiscal 2014, the year ended 31 December 2014, up 8.5% on the year before. Net income was $188 million, up 24.4%, and diluted earnings per share $4.04. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$1.8 billion
+8.5% on the year
FY2008FY2014
Operating margin
15.5%
13.8% a year earlier
FY2008FY2014
Net income
$188 million
+24.4% on the year
FY2008FY2014
Diluted EPS
$4.04
+17.1% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
1,840
1,696
1,551
+8.5%
Cost of revenue
897
857
803
+4.7%
Gross profit
942
839
748
+12.3%
Gross margin
51.2%
49.5%
48.2%
Research and development
61.0
65.0
56.3
-6.2%
Selling, general and administrative
579
502
454
+15.2%
Operating income
285
233
-97.4
+22.1%
Operating margin
15.5%
13.8%
-6.3%
Interest expense
65.5
56.9
69.6
+15.0%
Pre-tax income
220
176
-165
+25.3%
Income tax
28.6
23.5
16.4
+21.7%
Effective tax rate
13.0%
13.4%
n/a
Net income
188
151
-190
+24.4%
Net margin
10.2%
8.9%
-12.3%
Diluted EPS
$4.04
$3.45
-$4.65
+17.1%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
287
228
187
+25.7%
Capital expenditure
67.6
63.6
65.4
+6.3%
Free cash flow
219
164
121
+33.2%
Free cash flow margin
11.9%
9.7%
7.8%
Depreciation and amortisation
127
108
94.9
+17.7%
Share-based compensation
12.2
11.9
8.6
+3.0%
Dividends paid
56.3
55.9
55.6
+0.6%
Dividend per share
$1.36
$1.36
$1.36
0.0%
Diluted shares, weighted
46m
44m
41m
+6.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,911
1,914
1,779
-0.1%
Non-controlling interest
2.4
2.5
2.6
-4.0%
Short-term borrowings
n/a
356
4.7
Debt
1,068
1,286
965
-16.9%
Other liabilities
941
650
988
+44.6%
Total liabilities and equity
3,923
4,209
3,739
-6.8%
Fixed assets
317
326
298
-2.6%
Goodwill
1,324
1,354
1,238
-2.3%
Intangible assets
1,217
1,256
1,059
-3.1%
Cash and equivalents
303
432
337
-29.8%
Receivables
274
295
298
-7.3%
Inventory
336
334
323
+0.6%
Other assets
153
212
186
-28.2%
Total assets
3,923
4,209
3,739
-6.8%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.