Fiscal year ends in December 2015 2014 2013
Assets
Current assets
Cash and cash equivalents 19.81 17.42 12.45
Receivables 6.42 5.61 4.77
Inventories 10.24 8.30 7.41
Deferred income taxes 0.00 0.00 0.00
Total current assets 36.47 31.33 24.63
Non-current assets
Property and equipment, at cost 30.05 22.73 14.81
Accumulated Depreciation -8.22 -5.76 -3.86
Property, plant and equipment, net 21.84 16.97 10.95
Goodwill 3.76 3.32 2.66
Intangible assets 0.00 0.00 0.65
Deferred income taxes 1.08 0.00 0.00
Other long-term assets 2.29 2.89 1.29
Total non-current assets 28.97 23.18 15.53
Total assets 65.44 54.51 40.16
Liabilities and stockholders' equity
Liabilities
Current liabilities
Accounts payable 20.40 16.46 15.13
Accrued liabilities 10.38 9.81 6.69
Deferred revenues 3.12 1.82 1.16
Total current liabilities 33.90 28.09 22.98
Non-current liabilities
Long-term debt 8.24 8.27 3.19
Capital leases 5.95 4.22 1.99
Deferred taxes liabilities 0.00 1.02 0.57
Other long-term liabilities 3.98 2.17 1.68
Total non-current liabilities 18.16 15.68 7.43
Total liabilities 52.06 43.76 30.41
Stockholders' equity
Common stock 0.01 0.01 0.01
Additional paid-in capital 13.39 11.14 9.57
Retained earnings 2.55 1.95 2.19
Treasury stock -1.84 -1.84 -1.84
Accumulated other comprehensive income -0.72 -0.51 -0.19
Total stockholders' equity 13.38 10.74 9.75
Total liabilities and stockholders' equity 65.44 54.51 40.16
Average values for financial ratio computations
Average total assets 59.97 47.33 36.36
Average liabilities 47.91 37.09 27.39
Average shareholders' equity 12.06 10.24 8.97
Fixed assets 25.60 20.29 14.25
Average fixed assets 22.94 17.27 12.29
Average receivables 6.02 5.19 4.07
Average inventories 9.27 7.85 6.72
Average payables 18.43 15.80 14.23
Average working capital -3.14 -2.75 -3.44
Change in inventories 1.94 0.89 1.38
Purchases 73.60 63.64 55.56
All numbers in billions
2012 2011
11.45 9.58
3.36 2.57
6.03 4.99
0.45 0.35
21.30 17.49
9.58 5.79
-2.52 -1.37
7.06 4.42
2.55 1.96
0.73 0.65
0.12 0.03
0.80 0.74
11.26 7.79
32.56 25.28
13.32 11.15
5.68 3.75
0.00 0.00
19.00 14.90
3.08 0.26
0.75 1.16
0.00 0.00
1.53 1.21
5.36 2.63
24.36 17.52
0.01 0.01
8.35 6.99
1.92 1.96
-1.84 -0.88
-0.24 -0.32
8.19 7.76
32.56 25.28
28.92
20.94
7.97
10.34 7.02
8.68
2.97
5.51
12.23
-3.75
1.04
47.01
Fiscal year ends in December 2015 2014 2013
Revenue 107.01 88.99 74.45
Cost of revenue 71.65 62.75 54.18
Gross profit 35.36 26.24 20.27
Operating expenses
Sales, General and administrative 20.41 16.65 12.85
Other operating expenses 12.71 9.41 6.68
Total operating expenses 33.12 26.06 19.53
Operating income 2.23 0.18 0.75
Interest Expense 0.46 0.21 0.14
Other income (expense) -0.21 -0.08 -0.10
Income before income taxes 1.57 -0.11 0.51
Provision for income taxes 0.95 0.17 0.16
Other income -0.02 0.04 -0.07
Net income 0.60 -0.24 0.27
Earnings per share
Basic 1.28 -0.52 0.6
Diluted 1.25 -0.52 0.59
Weighted average shares outstanding (millions)
Basic 467 462 457
Diluted 477 462 465
All numbers in billions except for per share numbers and shares outstanding
2012 2011
61.09 48.08
45.97 37.29
15.12 10.79
9.72 6.86
4.72 3.06
14.45 9.93
0.68 0.86
0.09 0.07
-0.04 0.14
0.54 0.93
0.43 0.29
-0.16 -0.01
-0.04 0.63
-0.09 1.39
-0.09 1.37
453 453
453 461
Fiscal year ends in December 2015 2014
Cash Flows From Operating Activities
Net income 0.60 -0.24
Depreciation & amortization 6.28 4.75
Investments losses (gains) 0.01 0.00
Deferred income taxes 0.08 -0.32
Stock based compensation 2.12 1.50
Accounts receivable -1.76 -1.04
Inventory -2.19 -1.19
Accounts payable 4.29 1.76
Accrued liabilities 0.91 0.71
Other working capital 1.29 0.74
Other non-cash items 0.28 0.19
Net cash provided by operating activities 11.92 6.84
Cash Flows From Investing Activities
Investments in property, plant, and equipment -4.59 -4.89
Acquisitions, net -0.80 -0.98
Purchases of investments -4.09 -2.54
Sales/Maturities of investments 3.03 3.35
Net cash used for investing activities -6.45 -5.07
Cash Flows From Financing Activities
Long-term debt issued 0.35 6.36
Long-term debt repayment -4.24 -1.93
Excess tax benefit from stock based compensation 0.12 0.01
Repurchases of treasury stock 0.00 0.00
Net cash provided by (used for) financing activities -3.76 4.43
Effect of exchange rate changes -0.37 -0.31
Net change in cash 1.33 5.90
Cash at beginning of period 14.56 8.66
Cash at end of period 15.89 14.56
2013 2012 2011
0.27 -0.04 0.63
3.25 2.16 1.08
0.00 -0.01 0.00
-0.16 -0.27 0.14
1.13 0.83 0.56
0.00 -0.86 -0.87
-1.41 -1.00 -1.78
1.89 2.07 3.00
0.74 1.04 1.07
-0.45 0.28 0.04
0.20 -0.02 0.04
5.48 4.18 3.90
-3.44 -3.79 -1.81
-0.31 -0.75 -0.71
-2.83 -3.30 -6.26
2.31 4.24 6.84
-4.28 -3.60 -1.93
0.39 3.38 0.18
-1.01 -0.59 -0.44
0.08 0.43 0.06
0.00 -0.96 -0.28
-0.54 2.26 -0.48
-0.09 -0.03 0.00
0.57 2.82 1.49
8.08 5.27 3.78
8.66 8.08 5.27
