Tyler Technologies (TYL) FY2013 results: revenue $417 million, up 14.7% on the year
Tyler Technologies Inc. (TYL) reported revenue of $417 million for fiscal 2013, the year ended 31 December 2013, up 14.7% on the year before. Net income was $39 million, up 18.5%, and diluted earnings per share $1.13. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2014.
Revenue
$417 million
+14.7% on the year
FY2009FY2013
Operating margin
16.1%
15.6% a year earlier
FY2009FY2013
Net income
$39 million
+18.5% on the year
FY2009FY2013
Diluted EPS
$1.13
+13.0% 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
417
363
309
+14.7%
Cost of revenue
223
196
167
+14.2%
Gross profit
193
168
142
+15.2%
Gross margin
46.4%
46.2%
45.9%
Selling, general and administrative
98.3
86.7
75.7
+13.4%
Operating income
67.1
56.6
46.5
+18.6%
Operating margin
16.1%
15.6%
15.0%
Pre-tax income
65.8
53.9
44.1
+22.2%
Income tax
26.7
20.9
16.6
+28.0%
Effective tax rate
40.6%
38.8%
37.5%
Net income
39.1
33.0
27.6
+18.5%
Net margin
9.4%
9.1%
8.9%
Diluted EPS
$1.13
$1.00
$0.83
+13.0%
$ 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
66.1
58.7
56.4
+12.7%
Capital expenditure
26.9
9.1
12.3
+195.1%
Free cash flow
39.2
49.6
44.2
-20.8%
Free cash flow margin
9.4%
13.6%
14.3%
Cash from investing
n/a
-34.7
-28.8
Cash from financing
n/a
-18.9
-28.4
Depreciation and amortisation
13.8
12.7
10.7
+8.5%
Share-based compensation
11.7
7.4
6.3
+57.2%
Diluted shares, weighted
35m
33m
33m
+5.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
246
145
78.1
+69.5%
Debt
0.0
18.0
60.7
Other liabilities
198
175
157
+13.2%
Total liabilities and equity
444
338
295
+31.4%
Fixed assets
64.8
45.4
40.9
+42.9%
Goodwill
121
121
106
0.0%
Intangible assets
39.0
45.8
35.6
-14.9%
Investments
1.3
2.0
2.0
-36.8%
Cash and equivalents
78.9
6.4
1.3
+1,131.3%
Receivables
107
99.2
90.0
+7.4%
Other assets
32.9
18.5
19.4
+78.2%
Total assets
444
338
295
+31.4%
10-K for the year ended 31 December 2013, filed 19 February 2014: the filing.