Tennant (TNC) FY2014 results: revenue $822 million, up 9.3% on the year
Tennant Co. (TNC) reported revenue of $822 million for fiscal 2014, the year ended 31 December 2014, up 9.3% on the year before. Net income was $51 million, up 25.9%, and diluted earnings per share $2.70. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$822 million
+9.3% on the year
FY2009FY2014
Operating margin
8.8%
8.3% a year earlier
FY2009FY2014
Net income
$51 million
+25.9% on the year
FY2009FY2014
Diluted EPS
$2.70
+26.2% 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
822
752
739
+9.3%
Cost of revenue
470
426
414
+10.2%
Gross profit
352
326
325
+8.1%
Gross margin
42.9%
43.3%
44.0%
Research and development
29.4
30.5
29.3
-3.6%
Selling, general and administrative
251
233
234
+7.7%
Operating income
72.1
62.4
62.7
+15.5%
Operating margin
8.8%
8.3%
8.5%
Interest expense
1.7
1.8
2.5
-2.2%
Pre-tax income
69.5
59.9
59.9
+16.1%
Income tax
18.9
19.6
18.3
-3.9%
Effective tax rate
27.2%
32.8%
30.6%
Net income
50.7
40.2
41.6
+25.9%
Net margin
6.2%
5.3%
5.6%
Diluted EPS
$2.70
$2.14
$2.18
+26.2%
$ 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
59.4
59.8
47.6
-0.8%
Capital expenditure
19.6
14.8
15.6
+32.5%
Free cash flow
39.8
45.0
31.9
-11.7%
Free cash flow margin
4.8%
6.0%
4.3%
Cash from investing
-17.9
-11.4
-11.2
Cash from financing
-28.0
-21.5
-34.9
Depreciation and amortisation
20.1
20.2
20.9
-0.9%
Share-based compensation
7.3
6.1
9.1
+19.6%
Buybacks
14.1
22.2
25.3
-36.4%
Dividends paid
14.5
13.2
12.8
+9.5%
Dividend per share
$0.78
$0.72
$0.69
+8.3%
Diluted shares, weighted
19m
19m
19m
-0.5%
Shares outstanding at period end
18m
18m
18m
-0.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
281
264
235
+6.4%
Debt
28.1
31.8
32.3
-11.5%
Other liabilities
178
161
153
+10.9%
Total liabilities and equity
487
456
421
+6.7%
Fixed assets
86.5
83.5
86.2
+3.7%
Goodwill
18.4
18.9
19.7
-3.0%
Intangible assets
15.6
19.0
21.4
-18.1%
Cash and equivalents
93.0
81.0
53.9
+14.8%
Receivables
147
135
131
+8.7%
Inventory
80.5
66.9
58.1
+20.3%
Other assets
45.7
51.5
49.9
-11.2%
Total assets
487
456
421
+6.7%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.