Interface (TILE) FY2014 results: revenue $1.0 billion, up 4.6% on the year
Interface Inc. (TILE) reported revenue of $1.0 billion for fiscal 2014, the year ended 28 December 2014, up 4.6% on the year before. Net income was $25 million, down 48.6%, and diluted earnings per share $0.37. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$1.0 billion
+4.6% on the year
FY2009FY2014
Operating margin
7.0%
10.0% a year earlier
FY2009FY2014
Net income
$25 million
-48.6% on the year
FY2009FY2014
Diluted EPS
$0.37
-49.3% on the year
FY2009FY2014
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
1,004
960
932
+4.6%
Cost of revenue
664
619
615
+7.3%
Gross profit
340
341
317
-0.3%
Gross margin
33.9%
35.5%
34.0%
Research and development
13.9
12.6
12.4
+10.3%
Selling, general and administrative
257
252
231
+1.9%
Operating income
70.3
95.6
64.6
-26.5%
Operating margin
7.0%
10.0%
6.9%
Interest expense
20.8
23.8
25.0
-12.7%
Pre-tax income
35.7
69.0
38.1
-48.2%
Income tax
10.9
20.7
15.2
-47.3%
Effective tax rate
30.6%
30.1%
39.9%
Net income
24.8
48.3
5.9
-48.6%
Net margin
2.5%
5.0%
0.6%
Diluted EPS
$0.37
$0.73
$0.09
-49.3%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
46.4
66.6
46.9
-30.4%
Capital expenditure
38.9
91.9
42.4
-57.6%
Free cash flow
7.5
-25.2
4.5
Free cash flow margin
0.7%
-2.6%
0.5%
Cash from investing
-36.5
-65.8
7.8
Cash from financing
-26.2
-16.0
-15.9
Depreciation and amortisation
30.7
24.7
25.9
+24.3%
Share-based compensation
n/a
n/a
3.3
Buybacks
7.7
0.0
0.0
Dividends paid
9.3
7.3
5.9
+27.7%
Dividend per share
$0.14
$0.11
$0.09
+27.3%
Diluted shares, weighted
66m
66m
66m
+0.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
307
341
296
-10.0%
Debt
263
274
283
-3.8%
Other liabilities
205
182
211
+12.8%
Total liabilities and equity
775
796
789
-2.7%
Fixed assets
227
231
166
-1.5%
Goodwill
70.5
77.9
75.7
-9.5%
Cash and equivalents
54.9
72.9
90.5
-24.7%
Receivables
157
132
137
+19.1%
Inventory
142
150
141
-5.0%
Other assets
123
133
179
-7.7%
Total assets
775
796
789
-2.7%
10-K for the year ended 28 December 2014, filed 25 February 2015: the filing.