Veeco Instruments (VECO) FY2015 results: revenue $477 million, up 21.4% on the year
Veeco Instruments Inc. (VECO) reported revenue of $477 million for fiscal 2015, the year ended 31 December 2015, up 21.4% on the year before. Net income was -$32 million, and diluted earnings per share $-0.80. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2016.
Revenue
$477 million
+21.4% on the year
FY2009FY2015
Operating margin
-4.9%
-20.2% a year earlier
FY2009FY2015
Net income
-$32 million
FY2009FY2015
Diluted EPS
-$0.80
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
477
393
332
+21.4%
Cost of revenue
300
258
229
+16.2%
Gross profit
177
135
103
+31.4%
Gross margin
37.2%
34.3%
31.1%
Research and development
78.5
81.2
81.4
-3.2%
Selling, general and administrative
90.2
89.8
85.5
+0.5%
Operating income
-23.2
-79.2
-71.8
Operating margin
-4.9%
-20.2%
-21.6%
Interest expense
0.5
0.7
0.6
-35.1%
Pre-tax income
-22.6
-78.4
-71.2
Income tax
9.3
-11.4
-28.9
Net income
-32.0
-66.9
-42.3
Net margin
-6.7%
-17.0%
-12.7%
Diluted EPS
-$0.80
-$1.70
-$1.09
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
15.8
42.1
0.7
-62.5%
Capital expenditure
13.9
15.6
9.2
-10.9%
Free cash flow
1.9
26.5
-8.4
-92.8%
Free cash flow margin
0.4%
6.7%
-2.5%
Cash from investing
-7.1
8.1
-168
Cash from financing
-10.2
9.7
-5.8
Depreciation and amortisation
39.9
24.6
18.4
+62.2%
Share-based compensation
18.0
18.8
13.1
-4.4%
Buybacks
8.9
n/a
n/a
Diluted shares, weighted
40m
39m
39m
+1.0%
Shares outstanding at period end
41m
40m
40m
+0.4%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
715
739
780
-3.3%
Debt
1.5
1.8
2.1
-17.0%
Other liabilities
175
189
166
-7.4%
Total liabilities and equity
891
929
948
-4.2%
Fixed assets
79.6
78.8
89.1
+1.1%
Goodwill
115
115
91.3
-0.0%
Intangible assets
132
159
115
-17.3%
Investments
116
121
282
-3.8%
Cash and equivalents
269
271
211
-0.6%
Receivables
49.5
60.1
23.8
-17.6%
Inventory
77.5
61.5
59.7
+26.0%
Other assets
52.3
63.5
76.9
-17.6%
Total assets
891
929
948
-4.2%
10-K for the year ended 31 December 2015, filed 25 February 2016: the filing.