Interface (TILE) FY2019 results: revenue $1.3 billion, up 13.9% on the year
Interface Inc. (TILE) reported revenue of $1.3 billion for fiscal 2019, the year ended 29 December 2019, up 13.9% on the year before. Net income was $79 million, up 57.6%, and diluted earnings per share $1.34. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$1.3 billion
+13.9% on the year
FY2012FY2019
Operating margin
9.7%
6.5% a year earlier
FY2012FY2019
Net income
$79 million
+57.6% on the year
FY2012FY2019
Diluted EPS
$1.34
+59.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,343
1,180
996
+13.9%
Cost of revenue
810
750
610
+8.1%
Gross profit
533
430
386
+24.0%
Gross margin
39.7%
36.4%
38.7%
Research and development
17.8
16.4
14.0
+8.5%
Selling, general and administrative
389
333
267
+16.9%
Operating income
131
76.4
112
+71.4%
Operating margin
9.7%
6.5%
11.2%
Interest expense
25.7
15.4
7.1
+66.2%
Pre-tax income
102
55.0
101
+85.2%
Income tax
22.6
4.7
47.3
+377.3%
Effective tax rate
22.2%
8.6%
47.0%
Net income
79.2
50.3
53.2
+57.6%
Net margin
5.9%
4.3%
5.3%
Diluted EPS
$1.34
$0.84
$0.86
+59.5%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
142
91.8
103
+54.5%
Capital expenditure
74.6
54.9
30.5
+36.1%
Free cash flow
67.1
36.9
72.9
+81.9%
Free cash flow margin
5.0%
3.1%
7.3%
Cash from investing
-74.2
-456
-31.1
Cash from financing
-66.7
362
-157
Depreciation and amortisation
44.9
39.1
30.3
+15.0%
Buybacks
25.2
14.5
91.6
+73.7%
Dividends paid
15.4
15.5
15.5
-0.7%
Dividend per share
$0.26
$0.26
$0.25
0.0%
Diluted shares, weighted
59m
60m
62m
-1.0%
Shares outstanding at period end
58m
n/a
n/a
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
368
355
330
+3.8%
Debt
596
619
230
-3.6%
Operating lease liabilities
91.8
0.0
n/a
Finance lease liabilities
1.7
n/a
n/a
Other liabilities
365
311
241
+17.3%
Total liabilities and equity
1,423
1,285
801
+10.8%
Fixed assets
325
293
213
+10.8%
Goodwill
257
246
68.8
+4.7%
Intangible assets
29.7
n/a
n/a
Investments
0.0
0.0
0.0
Cash and equivalents
81.3
81.0
87.0
+0.4%
Receivables
177
179
143
-0.9%
Inventory
254
259
178
-2.0%
Other assets
299
227
111
+31.5%
Total assets
1,423
1,285
801
+10.8%
10-K for the year ended 29 December 2019, filed 26 February 2020: the filing.