Trex (TREX) FY2013 results: revenue $343 million, up 11.4% on the year
Trex Co. Inc. (TREX) reported revenue of $343 million for fiscal 2013, the year ended 31 December 2013, up 11.4% on the year before. Net income was $35 million, up 1172.0%, and diluted earnings per share $0.25. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2014.
Revenue
$343 million
+11.4% on the year
FY2009FY2013
Operating margin
7.2%
4.1% a year earlier
FY2009FY2013
Net income
$35 million
+1,172.0% on the year
FY2009FY2013
Diluted EPS
$0.25
+1,162.5% 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
343
307
267
+11.4%
Cost of revenue
244
223
204
+9.5%
Gross profit
98.6
84.6
62.8
+16.6%
Gross margin
28.8%
27.5%
23.5%
Research and development
2.9
2.9
2.5
0.0%
Selling, general and administrative
74.0
71.9
60.6
+2.9%
Operating income
24.7
12.7
2.2
+94.5%
Operating margin
7.2%
4.1%
0.8%
Interest expense
0.6
8.9
16.4
-93.3%
Pre-tax income
24.0
3.7
-14.2
+544.9%
Income tax
-10.5
1.0
-2.6
Effective tax rate
-43.9%
27.1%
n/a
Net income
34.6
2.7
-11.6
+1,172.0%
Net margin
10.1%
0.9%
-4.3%
Diluted EPS
$0.25
$0.02
-$0.09
+1,162.5%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
45.2
60.4
33.8
-25.2%
Capital expenditure
13.1
7.6
7.4
+72.0%
Free cash flow
32.1
52.9
26.4
-39.2%
Free cash flow margin
9.4%
17.2%
9.9%
Cash from investing
n/a
-7.5
-9.4
Cash from financing
n/a
-55.3
-47.2
Depreciation and amortisation
16.3
17.0
18.2
-4.4%
Share-based compensation
3.8
3.5
3.1
+9.9%
Buybacks
31.3
5.5
3.1
+466.4%
Diluted shares, weighted
137m
137m
123m
+0.4%
Shares outstanding at period end
134m
136m
125m
-1.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
107
94.0
92.5
+13.4%
Debt
0.0
5.0
86.4
Other liabilities
81.5
69.6
49.2
+17.1%
Total liabilities and equity
188
169
228
+11.6%
Fixed assets
101
104
115
-3.5%
Goodwill
10.5
10.5
10.6
0.0%
Cash and equivalents
3.8
2.2
4.5
+74.7%
Receivables
37.3
26.5
29.2
+40.7%
Inventory
22.4
17.5
28.9
+28.0%
Other assets
13.3
7.5
39.7
+78.6%
Total assets
188
169
228
+11.6%
10-K for the year ended 31 December 2013, filed 24 February 2014: the filing.