Zebra Technologies (ZBRA) FY2014 results: revenue $1.7 billion, up 60.9% on the year
Zebra Technologies Corp. (ZBRA) reported revenue of $1.7 billion for fiscal 2014, the year ended 31 December 2014, up 60.9% on the year before. Net income was $32 million, down 76.1%, and diluted earnings per share $0.63. The figures are the company's own, from the 10-K it filed with the SEC on 17 March 2015.
Revenue
$1.7 billion
+60.9% on the year
FY2008FY2014
Operating margin
5.3%
15.4% a year earlier
FY2008FY2014
Net income
$32 million
-76.1% on the year
FY2008FY2014
Diluted EPS
$0.63
-76.0% 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
1,671
1,038
996
+60.9%
Cost of revenue
893
535
505
+67.0%
Gross profit
778
504
492
+54.5%
Gross margin
46.6%
48.5%
49.4%
Research and development
151
91.1
87.4
+65.8%
Operating income
89.0
160
164
-44.5%
Operating margin
5.3%
15.4%
16.5%
Interest expense
62.0
0.0
0.2
Pre-tax income
17.0
164
164
-89.6%
Income tax
-15.0
30.0
42.3
Effective tax rate
-88.2%
18.3%
25.8%
Net income
32.0
134
123
-76.1%
Net margin
1.9%
12.9%
12.3%
Diluted EPS
$0.63
$2.63
$2.37
-76.0%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
248
195
183
+27.3%
Capital expenditure
39.0
20.0
22.4
+95.0%
Free cash flow
209
175
161
+19.6%
Free cash flow margin
12.5%
16.8%
16.2%
Cash from investing
n/a
-153
-106
Cash from financing
n/a
-44.2
-49.4
Depreciation and amortisation
81.0
32.0
26.2
+153.1%
Share-based compensation
20.0
13.0
14.7
+53.8%
Buybacks
0.0
63.1
54.4
Diluted shares, weighted
51m
51m
52m
+0.6%
Shares outstanding at period end
52m
50m
51m
+2.6%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,040
959
857
+8.5%
Debt
3,161
0.0
0.0
Other liabilities
1,338
161
111
+730.5%
Total liabilities and equity
5,539
1,120
968
+394.6%
Fixed assets
255
110
101
+132.8%
Goodwill
2,490
156
94.9
+1,497.9%
Intangible assets
1,029
69.0
39.2
+1,392.4%
Investments
24.0
353
329
-93.2%
Cash and equivalents
394
63.0
65.0
+525.3%
Receivables
670
177
169
+278.9%
Inventory
394
121
123
+225.7%
Other assets
283
71.5
45.9
+294.9%
Total assets
5,539
1,120
968
+394.6%
10-K for the year ended 31 December 2014, filed 17 March 2015: the filing.