IPGP FY 2014 Earnings Report — IPG Photonics Corporation Revenue & Financial Results | Market Cap Arena

IPG Photonics CorporationIPGP

FY 2014 Earnings

Reported March 2, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$770M	—	$648M	—	18.8%
Op. Income	$284M	—	$218M	—	30.1%
Gross Margin	54.1%	—	52.5%	—	1.7pp
Net Margin	26.0%	—	24.0%	—	2.0pp
EPS (Diluted)	$3.79	—	$2.97	—	27.6%
Free Cash Flow	$94M	—	$48M	—	93.2%

Revenue Flow

Item	Amount
REVENUE	$770M
Cost of Revenue	$353M
GROSS PROFIT	$417M
R&D Expenses	$53M
Selling & Marketing	$31M
General & Administrative	$55M
SG&A Expenses	$86M
Other Expenses	-$7M
Operating Expenses	$133M
Cost & Expenses	$486M
OPERATING INCOME	$284M
Interest Income	$0
Interest Expense	$77.0K
Other Income/Expenses	$716.0K
INCOME BEFORE TAX	$284M
Income Tax Expense	$84M
Net Income from Continuing Ops	$200M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$200M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$200M
D&A	$36M
EBIT	$277M
EBITDA	$313M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$770M
Cost of Revenue	$353M
GROSS PROFIT	$417M
R&D Expenses	$53M
Selling & Marketing	$31M
General & Administrative	$55M
SG&A Expenses	$86M
Other Expenses	-$7M
Operating Expenses	$133M
Cost & Expenses	$486M
OPERATING INCOME	$284M
Interest Income	$0
Interest Expense	$77.0K
Other Income/Expenses	$716.0K
INCOME BEFORE TAX	$284M
Income Tax Expense	$84M
Net Income from Continuing Ops	$200M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$200M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$200M
D&A	$36M
EBIT	$277M
EBITDA	$313M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$200M
Depreciation & Amortization	$36M
Stock-Based Compensation	$15M
Deferred Income Tax	-$1M
Other Non-Cash Items	$29M
Change in Working Capital	-$95M
OPERATING CASH FLOW	$184M
Capital Expenditure	-$91M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$521.0K
NET CASH FROM INVESTING	-$90M
Net Debt Issuance	-$2M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$14M
NET CASH FROM FINANCING	$12M
FREE CASH FLOW	$94M
Net Change in Cash	$73M

Balance Sheet

Item	Amount
Cash & Equivalents	$522M
Short-Term Investments	$0
Net Receivables	$143M
Inventory	$171M
Other Current Assets	$37M
TOTAL CURRENT ASSETS	$894M
PP&E (Net)	$275M
Goodwill	$455.0K
Intangible Assets	$9M
Long-Term Investments	$0
Tax Assets	$5M
Other Non-Current Assets	$27M
TOTAL NON-CURRENT ASSETS	$317M
TOTAL ASSETS	$1.2B
Account Payables	$17M
Short-Term Debt	$16M
Deferred Revenue	$17M
Other Current Liabilities	$35M
TOTAL CURRENT LIABILITIES	$122M
Long-Term Debt	$20M
Deferred Revenue NC	$23M
Deferred Tax Liabilities	$23M
Other Non-Current Liabilities	-$23M
TOTAL NON-CURRENT LIABILITIES	$42M
TOTAL LIABILITIES	$164M
Common Stock	$5.0K
Additional Paid-In Capital	$568M
Retained Earnings	$591M
Treasury Stock	$0
Accum. Other Comp. Income	-$112M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.0B
Minority Interest	$0
TOTAL EQUITY	$1.0B
TOTAL LIABILITIES & EQUITY	$1.2B
Total Debt	$36M
Net Debt	-$487M