Vishay Intertechnology (VSH) FY2014 results: revenue $2.5 billion, up 5.2% on the year
Vishay Intertechnology Inc. (VSH) reported revenue of $2.5 billion for fiscal 2014, the year ended 31 December 2014, up 5.2% on the year before. Net income was $118 million, down 4.4%, and diluted earnings per share $0.77. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2015.
Revenue
$2.5 billion
+5.2% on the year
FY2008FY2014
Operating margin
7.6%
8.3% a year earlier
FY2008FY2014
Net income
$118 million
-4.4% on the year
FY2008FY2014
Diluted EPS
$0.77
-4.9% 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
2,493
2,371
2,230
+5.2%
Cost of revenue
1,882
1,804
1,703
+4.3%
Gross profit
611
567
527
+7.8%
Gross margin
24.5%
23.9%
23.6%
Research and development
65.3
62.1
57.2
+5.2%
Selling, general and administrative
386
369
350
+4.7%
Operating income
189
198
189
-4.3%
Operating margin
7.6%
8.3%
8.5%
Interest expense
24.5
23.1
22.6
+5.7%
Pre-tax income
167
176
170
-5.3%
Income tax
49.3
52.6
46.5
-6.3%
Effective tax rate
29.5%
29.8%
27.4%
Net income
118
123
123
-4.4%
Net margin
4.7%
5.2%
5.5%
Diluted EPS
$0.77
$0.81
$0.79
-4.9%
$ 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
297
292
287
+1.7%
Capital expenditure
157
153
150
+2.5%
Free cash flow
140
139
137
+0.8%
Free cash flow margin
5.6%
5.9%
6.2%
Depreciation and amortisation
179
170
169
+5.5%
Share-based compensation
2.4
0.6
3.5
+276.1%
Buybacks
0.0
0.0
150
Dividend per share
$0.24
$0.00
$0.00
Diluted shares, weighted
154m
151m
156m
+1.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,825
1,873
1,623
-2.5%
Non-controlling interest
5.5
5.4
4.9
+1.3%
Redeemable equity
n/a
0.0
n/a
Debt
444
365
393
+21.7%
Other liabilities
999
981
995
+1.8%
Total liabilities and equity
3,274
3,224
3,016
+1.5%
Fixed assets
898
927
915
-3.1%
Goodwill
144
43.1
34.9
+234.7%
Intangible assets
187
130
134
+43.6%
Cash and equivalents
592
640
698
-7.5%
Receivables
272
274
247
-0.9%
Inventory
425
433
408
-1.9%
Other assets
757
778
581
-2.7%
Total assets
3,274
3,224
3,016
+1.5%
10-K for the year ended 31 December 2014, filed 19 February 2015: the filing.