Tennant (TNC) FY2013 results: revenue $752 million, up 1.8% on the year
Tennant Co. (TNC) reported revenue of $752 million for fiscal 2013, the year ended 31 December 2013, up 1.8% on the year before. Net income was $40 million, down 3.3%, and diluted earnings per share $2.14. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$752 million
+1.8% on the year
FY2009FY2013
Operating margin
8.3%
8.5% a year earlier
FY2009FY2013
Net income
$40 million
-3.3% on the year
FY2009FY2013
Diluted EPS
$2.14
-1.8% on the year
FY2009FY2013
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
752
739
754
+1.8%
Cost of revenue
426
414
435
+3.0%
Gross profit
326
325
319
+0.2%
Gross margin
43.3%
44.0%
42.3%
Research and development
30.5
29.3
27.9
+4.3%
Selling, general and administrative
233
234
242
-0.5%
Operating income
62.4
62.7
49.6
-0.5%
Operating margin
8.3%
8.5%
6.6%
Interest expense
1.8
2.5
2.2
-30.0%
Pre-tax income
59.9
59.9
48.7
-0.0%
Income tax
19.6
18.3
16.0
+7.3%
Effective tax rate
32.8%
30.6%
32.9%
Net income
40.2
41.6
32.7
-3.3%
Net margin
5.3%
5.6%
4.3%
Diluted EPS
$2.14
$2.18
$1.69
-1.8%
$ 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
59.8
47.6
56.9
+25.7%
Capital expenditure
14.8
15.6
13.9
-5.4%
Free cash flow
45.0
31.9
43.0
+41.0%
Free cash flow margin
6.0%
4.3%
5.7%
Cash from investing
-11.4
-11.2
-19.5
Cash from financing
-21.5
-34.9
-24.2
Depreciation and amortisation
20.2
20.9
21.4
-3.0%
Share-based compensation
6.1
9.1
5.4
-32.7%
Buybacks
22.2
25.3
17.6
-12.6%
Dividends paid
13.2
12.8
12.9
+3.2%
Dividend per share
$0.72
$0.69
$0.68
+4.3%
Diluted shares, weighted
19m
19m
19m
-1.4%
Shares outstanding at period end
18m
18m
19m
+0.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
264
235
221
+12.2%
Debt
31.8
32.3
32.3
-1.6%
Other liabilities
161
153
171
+4.7%
Total liabilities and equity
456
421
424
+8.4%
Fixed assets
83.5
86.2
87.2
-3.2%
Goodwill
18.9
19.7
20.3
-4.0%
Intangible assets
19.0
21.4
23.8
-11.1%
Cash and equivalents
81.0
53.9
52.3
+50.1%
Receivables
135
131
124
+3.1%
Inventory
66.9
58.1
65.9
+15.1%
Other assets
51.5
49.9
50.9
+3.2%
Total assets
456
421
424
+8.4%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.