Ziff Davis (ZD) FY2013 results: revenue $521 million, up 40.2% on the year
Ziff Davis, Inc. (ZD) reported revenue of $521 million for fiscal 2013, the year ended 31 December 2013, up 40.2% on the year before. Net income was $108 million, down 11.6%, and diluted earnings per share $2.28. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2014.
Revenue
$521 million
+40.2% on the year
FY2008FY2013
Operating margin
33.7%
43.7% a year earlier
FY2008FY2013
Net income
$108 million
-11.6% on the year
FY2008FY2013
Diluted EPS
$2.28
-12.6% on the year
FY2008FY2013
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
521
371
330
+40.2%
Gross profit
434
304
270
+42.6%
Gross margin
83.3%
82.0%
81.6%
Research and development
25.5
18.6
16.4
+36.8%
Operating income
175
162
136
+8.2%
Operating margin
33.7%
43.7%
41.2%
Interest expense
22.3
9.0
n/a
+147.8%
Pre-tax income
143
155
137
-7.9%
Income tax
35.2
33.3
22.4
+5.8%
Effective tax rate
24.7%
21.5%
16.3%
Net income
108
122
115
-11.6%
Net margin
20.6%
32.7%
34.8%
Diluted EPS
$2.28
$2.61
$2.43
-12.6%
$ 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
193
170
151
+13.8%
Capital expenditure
18.6
5.1
6.8
+268.0%
Free cash flow
175
165
144
+6.0%
Free cash flow margin
33.5%
44.4%
43.6%
Cash from investing
-167
-249
-76.2
Cash from financing
-35.7
158
0.3
Depreciation and amortisation
39.8
22.2
19.8
+79.5%
Share-based compensation
9.7
9.1
9.0
+6.4%
Buybacks
4.6
60.3
1.3
-92.4%
Dividends paid
45.1
40.3
19.2
+12.1%
Dividend per share
$0.98
$0.87
$0.41
+12.6%
Diluted shares, weighted
46m
46m
46m
+0.8%
Shares outstanding at period end
46m
45m
47m
+2.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
706
595
554
+18.8%
Non-controlling interest
0.0
-0.1
0.0
Debt
246
245
0.0
+0.2%
Other liabilities
202
155
96.8
+29.8%
Total liabilities and equity
1,154
995
651
+15.9%
Fixed assets
31.2
19.6
14.4
+59.2%
Goodwill
457
408
279
+12.2%
Intangible assets
191
133
10.0
+43.9%
Investments
138
125
81.6
+10.6%
Trading assets
0.0
0.0
0.0
Cash and equivalents
208
219
139
-5.0%
Receivables
67.2
37.3
19.1
+80.4%
Other assets
61.3
54.4
108
+12.7%
Total assets
1,154
995
651
+15.9%
10-K for the year ended 31 December 2013, filed 3 March 2014: the filing.