Trimble (TRMB) FY2014 results: revenue $2.4 billion, up 4.7% on the year
Trimble Inc. (TRMB) reported revenue of $2.4 billion for fiscal 2014, the year ended 2 January 2015, up 4.7% on the year before. Net income was $214 million, down 2.2%, and diluted earnings per share $0.81. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$2.4 billion
+4.7% on the year
FY2008FY2014
Operating margin
10.9%
11.0% a year earlier
FY2008FY2014
Net income
$214 million
-2.2% on the year
FY2008FY2014
Diluted EPS
$0.81
-3.6% on the year
FY2008FY2014
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
2,396
2,288
2,040
+4.7%
Cost of revenue
1,105
1,084
994
+1.9%
Gross profit
1,291
1,204
1,046
+7.2%
Gross margin
53.9%
52.6%
51.3%
Research and development
318
299
256
+6.2%
Operating income
261
252
213
+3.6%
Operating margin
10.9%
11.0%
10.4%
Pre-tax income
266
253
229
+5.2%
Income tax
52.1
34.7
39.7
+50.2%
Effective tax rate
19.6%
13.7%
17.3%
Net income
214
219
191
-2.2%
Net margin
8.9%
9.6%
9.4%
Diluted EPS
$0.81
$0.84
$0.74
-3.6%
$ 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
407
415
341
-1.8%
Capital expenditure
47.3
70.9
54.1
-33.2%
Free cash flow
360
344
287
+4.7%
Free cash flow margin
15.0%
15.0%
14.0%
Cash from investing
-344
-325
-764
Cash from financing
-51.5
-98.4
426
Depreciation and amortisation
109
108
149
+0.3%
Share-based compensation
43.4
36.4
32.7
+19.1%
Buybacks
97.8
0.0
0.0
Diluted shares, weighted
264m
261m
257m
+1.2%
Shares outstanding at period end
259m
259m
254m
+0.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,342
2,221
1,897
+5.4%
Non-controlling interest
11.8
13.1
16.1
-9.8%
Debt
742
758
911
-2.2%
Other liabilities
761
708
644
+7.4%
Total liabilities and equity
3,856
3,701
3,469
+4.2%
Fixed assets
157
143
96.9
+10.1%
Goodwill
2,086
1,985
1,816
+5.1%
Intangible assets
595
619
644
-4.0%
Cash and equivalents
148
147
158
+0.5%
Receivables
362
338
323
+7.1%
Inventory
278
254
241
+9.4%
Other assets
230
214
190
+7.6%
Total assets
3,856
3,701
3,469
+4.2%
10-K for the year ended 2 January 2015, filed 25 February 2015: the filing.