Dentsply Sirona (XRAY) FY2013 results: revenue $3.0 billion, up 0.8% on the year
Dentsply Sirona Inc. (XRAY) reported revenue of $3.0 billion for fiscal 2013, the year ended 31 December 2013, up 0.8% on the year before. Net income was $313 million, down 0.3%, and diluted earnings per share $2.16. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2014.
Revenue
$3.0 billion
+0.8% on the year
FY2007FY2013
Operating margin
14.2%
13.0% a year earlier
FY2007FY2013
Net income
$313 million
-0.3% on the year
FY2007FY2013
Diluted EPS
$2.16
-0.9% on the year
FY2007FY2013
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
2,951
2,928
2,538
+0.8%
Cost of revenue
1,373
1,372
1,264
+0.1%
Gross profit
1,577
1,556
1,273
+1.4%
Gross margin
53.5%
53.1%
50.2%
Research and development
85.1
85.4
66.7
-0.4%
Selling, general and administrative
1,145
1,149
937
-0.3%
Operating income
419
382
301
+9.7%
Operating margin
14.2%
13.0%
11.9%
Interest expense
49.6
56.9
43.8
-12.7%
Pre-tax income
369
331
256
+11.7%
Income tax
52.1
8.9
11.0
+484.6%
Effective tax rate
14.1%
2.7%
4.3%
Net income
313
314
245
-0.3%
Net margin
10.6%
10.7%
9.6%
Diluted EPS
$2.16
$2.18
$1.70
-0.9%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
418
370
393
+13.0%
Capital expenditure
100
92.1
71.2
+9.0%
Free cash flow
318
278
322
+14.4%
Free cash flow margin
10.8%
9.5%
12.7%
Cash from investing
-260
-115
-1,887
Cash from financing
-162
-256
1,002
Depreciation and amortisation
128
129
85.0
-1.0%
Share-based compensation
25.1
22.2
20.9
+13.1%
Buybacks
118
38.8
79.5
+203.9%
Dividends paid
34.8
31.4
28.6
+10.7%
Dividend per share
$0.25
$0.22
$0.20
+13.6%
Diluted shares, weighted
145m
144m
144m
+0.7%
Shares outstanding at period end
142m
142m
142m
-0.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,535
2,209
1,848
+14.8%
Non-controlling interest
42.9
40.7
36.1
+5.3%
Debt
1,476
1,521
1,767
-3.0%
Other liabilities
1,024
1,202
1,105
-14.8%
Total liabilities and equity
5,078
4,972
4,755
+2.1%
Fixed assets
637
615
591
+3.7%
Goodwill
2,282
2,211
2,190
+3.2%
Intangible assets
795
831
791
-4.3%
Cash and equivalents
75.0
80.1
77.1
-6.5%
Inventory
439
403
362
+8.8%
Other assets
850
833
744
+2.1%
Total assets
5,078
4,972
4,755
+2.1%
10-K for the year ended 31 December 2013, filed 20 February 2014: the filing.