Tyler Technologies (TYL) FY2014 results: revenue $493 million, up 18.4% on the year
Tyler Technologies Inc. (TYL) reported revenue of $493 million for fiscal 2014, the year ended 31 December 2014, up 18.4% on the year before. Net income was $59 million, up 50.7%, and diluted earnings per share $1.66. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2015.
Revenue
$493 million
+18.4% on the year
FY2009FY2014
Operating margin
19.2%
16.1% a year earlier
FY2009FY2014
Net income
$59 million
+50.7% on the year
FY2009FY2014
Diluted EPS
$1.66
+46.9% 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
493
417
363
+18.4%
Cost of revenue
260
223
196
+16.2%
Gross profit
233
193
168
+20.8%
Gross margin
47.3%
46.4%
46.2%
Selling, general and administrative
108
98.3
86.7
+10.1%
Operating income
94.8
67.1
56.6
+41.3%
Operating margin
19.2%
16.1%
15.6%
Pre-tax income
94.5
65.8
53.9
+43.5%
Income tax
35.5
26.7
20.9
+33.0%
Effective tax rate
37.6%
40.6%
38.8%
Net income
58.9
39.1
33.0
+50.7%
Net margin
12.0%
9.4%
9.1%
Diluted EPS
$1.66
$1.13
$1.00
+46.9%
$ 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
n/a
66.1
58.7
Capital expenditure
9.3
26.9
9.1
-65.2%
Free cash flow
n/a
39.2
49.6
Free cash flow margin
n/a
9.4%
13.6%
Cash from investing
n/a
n/a
-34.7
Cash from financing
n/a
n/a
-18.9
Depreciation and amortisation
14.6
13.8
12.7
+5.9%
Share-based compensation
14.8
11.7
7.4
+27.2%
Buybacks
22.8
n/a
n/a
Diluted shares, weighted
35m
35m
33m
+2.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
337
246
145
+36.8%
Debt
0.0
0.0
18.0
Other liabilities
233
198
175
+17.5%
Total liabilities and equity
570
444
338
+28.2%
Fixed assets
65.9
64.8
45.4
+1.6%
Goodwill
124
121
121
+2.6%
Intangible assets
34.7
39.0
45.8
-10.9%
Investments
n/a
1.3
2.0
Cash and equivalents
206
78.9
6.4
+161.4%
Receivables
113
107
99.2
+5.7%
Other assets
26.2
32.9
18.5
-20.4%
Total assets
570
444
338
+28.2%
10-K for the year ended 31 December 2014, filed 18 February 2015: the filing.