UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________________________
FORM 8-K
_____________________________________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
February 2, 2016
Date of Report (Date of earliest event reported)
_____________________________________________
FEI COMPANY
(Exact name of registrant as specified in its charter)
_____________________________________________
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| | | | |
| | | | |
Oregon | | 000-22780 | | 93-0621989 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
5350 NE Dawson Creek Drive, Hillsboro, Oregon 97124
(Address of principal executive offices, including zip code)
(503) 726-7500
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
_____________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02. Results of Operations and Financial Condition.
On February 2, 2016, FEI Company issued a press release announcing results for the quarter ended December 31, 2015. A copy of this press release is attached as Exhibit 99.1 to this current report on Form 8-K and is incorporated by reference herein.
The information in this Item 2.02 of this Current Report on Form 8-K and the exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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| | |
| | |
Exhibit No. | | Description |
| |
99.1 | | Press Release issued by FEI Company, dated February 2, 2016 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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FEI COMPANY |
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/s/ Bradley J. Thies |
Bradley J. Thies |
Senior Vice President, General Counsel and Secretary |
Date: February 2, 2016
EXHIBIT INDEX
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| | |
| | |
Exhibit No. | | Description |
| |
99.1 | | Press Release issued by FEI Company, dated February 2, 2016 |
Exhibit 99.1
NEWS RELEASE
For more information contact:
FEI Company
Jason Willey
Sr. Director, Investor Relations and Corporate Development
(503) 726-2533
jason.willey@fei.com
FEI Reports Fourth Quarter 2015 Results
Record Revenue of $273 Million and EPS of $1.17
Record Bookings of $294 Million and Book-to-Bill of 1.08-to-1
HILLSBORO, Ore. February 2, 2016 - FEI Company (NASDAQ: FEIC) today reported results for the fourth quarter of 2015. Fourth quarter revenue of $273 million was up 2.7% compared with $265 million for fourth quarter of 2014. Movements in foreign exchange rates negatively impacted revenue for the fourth quarter of 2015 by approximately $16 million. Excluding the impact of foreign exchange movements and $1.7 million of revenue related to acquisitions, fourth quarter organic revenue was up 8.2% compared with the fourth quarter of 2014.
Diluted earnings per share computed on the basis of accounting principles generally accepted in the United States (“GAAP”) were $1.17 for the fourth quarter of 2015, compared with $0.79 in the fourth quarter of 2014. Net income for the quarter was $48 million compared with $33 million in the fourth quarter of 2014.
On December 10, 2015, the company completed the acquisition of DCG Systems. Included in fourth quarter 2015 results is $1.0 million of DCG revenue and a net negative impact to net income of $3.0 million, or $0.07 per share.
The company’s backlog of orders at the end of the fourth quarter of 2015 was $591 million, compared with $536 million at the end of the fourth quarter of 2014 and $562 million at the end of the third quarter of 2015. Bookings for the fourth quarter of 2015 were a record $294 million, resulting in a book-to-bill ratio of 1.08-to-1.
For the full year 2015, revenue was $930 million compared with $956 million for 2014. Excluding the impact of $55 million related to negative foreign exchange movements and $4.1 million of revenue related to acquisitions, 2015 organic revenue was up 2.6% compared with 2014. Bookings were $996 million compared with $1.05 billion for 2014. Adjusted EBITDA for 2015 was $217 million compared with $199 million for 2014. A reconciliation of adjusted EBITDA to GAAP operating income is included in a table attached to this press release. Net income for 2015 was $124 million or $2.96 per diluted share, compared with $105 million or $2.47 per diluted share for 2014.
Net cash provided by operating activities for the fourth quarter of 2015 was $70 million, unchanged from the fourth quarter of 2014. During the quarter, the company paid cash dividends of $12 million, invested $6.9 million on plant and equipment and repurchased 443,000 shares of its common stock at an average price of $75.77.
In 2015, net cash provided by operating activities was $204 million, compared with $143 million in 2014. For the full year, the company paid cash dividends of $46 million, invested $17 million in plant and equipment and repurchased 1.4 million shares of its common stock at an average price of $76.78. Total cash, investments and restricted cash at the end of 2015 was $351 million.
“2015 finished on a positive note with record revenue, operating margin and earnings per share in the fourth quarter,” commented Don Kania, president and CEO. “The strong results in the quarter were driven by our Science segment, with record orders and revenue from life sciences customers.
“As we look to 2016, we see improved organic revenue growth driving increased earnings and cash flow for FEI. We are especially excited about the adoption of cyro-EM by life sciences customers and there is opportunity for an improved back half of the year in the semiconductor market as spending picks up at our larger customers.”
Outlook
For full year 2016, the company expects reported revenue to be in the range of $1.02 billion to $1.05 billion. On an organic basis, excluding revenue from DCG and the expected negative impact of a stronger U.S dollar, revenue is expected to grow in the range of 3.5% to 6.5%, compared with 2015. Adjusted EBITDA is expected to be in the range of $235 million to $245 million. GAAP earnings per fully diluted share are expected to be in the range of $3.55 to $3.70. This range is based on an expected tax rate for the full year of approximately 21%.
For the first quarter of 2016, the company expects reported revenue to be in the range of $215 million to $225 million. On an organic basis, excluding revenue from DCG and the expected negative impact of a stronger U.S. dollar, first quarter 2016 revenue is expected to be in the range of flat to down 4.0% compared with the first quarter of 2015. First quarter GAAP earnings per fully diluted share are expected to be in the range of $0.46 to $0.57.
Investor Conference Call - 2:00 p.m. Pacific Time, Tuesday, February 2, 2016
Parties interested in listening to FEI's quarterly conference call may do so by dialing 1-877-407-8293 (U.S., toll-free) or +1-201-689-8349 (international and toll), with the conference title: FEI Fourth Quarter Earnings Conference Call. The call can also be accessed via the web by going to FEI's Investor Relations page at http://investor.fei.com/event, where the webcast will also be archived.
Safe Harbor Statement
This news release contains forward-looking statements that include guidance for revenue and/or earnings per share for the first quarter of 2016 and full year 2016, the impact of certain items on our results for these periods, statements regarding our sources of revenue, our investments and expenditures, foreign currency exchange rates, assumptions about tax rates, the allocation of our resources and expenditures, expectations for performance from the acquisition of DCG, and developments, trends, and opportunities in certain markets. Forward-looking statements may also be identified by words and phrases that refer to future expectations, such as “guidance”, “guiding”, “forecast”, “toward”, “plan”, “expect”, “are expected”, “is expected”, “believe”, “anticipate”, “will”, “projecting”, “look forward”, “continue to see”, “outlook” and other similar words and phrases. Factors that could affect these forward-looking statements include, but are not limited to: the global economic environment, particularly continued slower growth in China and emerging markets; lower than expected customer orders, including for recently-introduced products; potential weakness of the Science and Industry market segments, including continued weakness in the oil and gas sector of the Industry segment resulting from lower oil prices; fluctuations in foreign exchange rates, which, among other things, can affect revenues, margins, bookings, backlog and the competitive pricing of our products; cyclical and other changes and increased volatility in the semiconductor industry, which is a major component of Industry market segment revenue; failure to achieve the anticipated benefits of the DCG acquisition; changes in backlog and the timing of shipments from backlog, which may create forecasting challenges; potential delayed or reduced governmental spending to support expected orders; potential disruption in the company's operations due to organizational changes; the relative mix of higher-margin and lower-margin products; potential for increased volatility and challenges in forecasting resulting from larger sales transactions, cancellations and rescheduling of orders by customers; risks associated with a high percentage of the company's revenue coming from book and ship business, when the order for a product is placed by the customer in the same quarter as the planned shipment, and risks associated with building and shipping a high percentage of the company’s quarterly revenue in the last month of the quarter; delays in meeting all accounting requirements for revenue recognition; the ongoing determination of the effectiveness of foreign exchange hedge transactions; the relative mix of U.S. and non-U.S. sales; additional costs related to future merger and acquisition
activity; failure of the company to achieve anticipated benefits of acquisitions and collaborations, including failure to achieve financial goals and integrate acquisitions successfully; reduced profitability due to failure to achieve or sustain margin improvement in service or product manufacturing; potential disruption in manufacturing or unexpected additional costs due to the transition from older to newer products; failure to achieve improved operational efficiency and other benefits from infrastructure investments and restructuring activities; potential additional restructurings, realignments and reorganizations; inability to deploy products as expected or delays in shipping products due to technical problems or barriers, especially with regard to recently introduced TEM products; bankruptcy or insolvency of customers or suppliers; and changes in U.S. and foreign tax rates and laws, accounting rules regarding taxes or agreements with tax authorities. Please also refer to our Form 10-K, Forms 10-Q, Forms 8-K and other filings with the U.S. Securities and Exchange Commission for additional information on these factors and other factors that could cause actual results to differ materially from the forward-looking statements. FEI assumes no duty to update forward-looking statements.
About FEI
FEI Company (Nasdaq: FEIC) designs, manufactures and supports a broad range of high-performance microscopy workflow solutions that provide images and answers at the micro-, nano- and picometer scales. Its innovation and leadership enable customers in industry and science to increase productivity and make breakthrough discoveries. Headquartered in Hillsboro, Ore., USA, FEI has over 3,000 employees and sales and service operations in more than 50 countries around the world. More information can be found at: www.fei.com.
FEI Company and Subsidiaries
Consolidated Balance Sheets
(In thousands)
(Unaudited)
|
| | | | | | | |
| December 31,
2015 | | December 31,
2014 |
Assets | | | |
Current Assets: | | | |
Cash and cash equivalents | $ | 300,911 |
| | $ | 300,507 |
|
Short-term investments in marketable securities | — |
| | 61,688 |
|
Short-term restricted cash | 19,119 |
| | 15,698 |
|
Receivables, net | 213,128 |
| | 227,354 |
|
Inventories, net | 170,513 |
| | 176,440 |
|
Deferred tax assets | 10,566 |
| | 8,225 |
|
Other current assets | 33,614 |
| | 35,503 |
|
Total current assets | 747,851 |
| | 825,415 |
|
Long-term investments in marketable securities | 8,677 |
| | 85,865 |
|
Long-term restricted cash | 22,113 |
| | 38,369 |
|
Property plant and equipment, net | 155,608 |
| | 163,794 |
|
Intangible assets, net | 35,943 |
| | 54,111 |
|
Goodwill | 145,607 |
| | 170,773 |
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Deferred tax assets | 6,719 |
| | 6,605 |
|
Long-term inventories | 47,109 |
| | 50,731 |
|
Other assets, net | 180,222 |
| | 22,155 |
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Total Assets | $ | 1,349,849 |
| | $ | 1,417,818 |
|
Liabilities and Shareholders' Equity | | | |
Current Liabilities: | | | |
Accounts payable | $ | 58,708 |
| | $ | 78,308 |
|
Accrued payroll liabilities | 38,643 |
| | 38,599 |
|
Accrued warranty reserves | 14,107 |
| | 13,005 |
|
Deferred revenue | 101,155 |
| | 96,924 |
|
Income taxes payable | 12,124 |
| | 5,299 |
|
Accrued restructuring and reorganization | 655 |
| | 9,161 |
|
Other current liabilities | 52,630 |
| | 56,146 |
|
Total current liabilities | 278,022 |
| | 297,442 |
|
Long-term deferred revenue | 44,745 |
| | 34,021 |
|
Deferred tax liabilities | 5,187 |
| | 9,576 |
|
Other liabilities | 31,819 |
| | 35,454 |
|
Shareholders' Equity: | | | |
Preferred stock - 500 shares authorized; none issued and outstanding | — |
| | — |
|
Common stock - 70,000 shares authorized; 40,855 and 41,797 shares issued and outstanding, no par value | 533,062 |
| | 607,250 |
|
Retained earnings | 538,053 |
| | 461,586 |
|
Accumulated other comprehensive loss | (81,039 | ) | | (27,511 | ) |
Total shareholders’ equity | 990,076 |
| | 1,041,325 |
|
Total Liabilities and Shareholders' Equity | $ | 1,349,849 |
| | $ | 1,417,818 |
|
FEI Company and Subsidiaries
Consolidated Statements of Operations
(In thousands, except per share amounts)
(Unaudited)
|
| | | | | | | | | | | | | | | |
| Thirteen Weeks Ended | | Fifty-Two Weeks Ended |
| December 31,
2015 | | December 31,
2014 | | December 31,
2015 | | December 31,
2014 |
Net Sales: | | | | | | | |
Products | $ | 206,164 |
| | $ | 205,207 |
| | $ | 685,651 |
| | $ | 722,666 |
|
Service | 66,402 |
| | 60,098 |
| | 244,481 |
| | 233,614 |
|
Total net sales | 272,566 |
| | 265,305 |
| | 930,132 |
| | 956,280 |
|
Cost of Sales: | | | | | | | |
Products | 101,106 |
| | 106,718 |
| | 336,071 |
| | 369,043 |
|
Service | 38,522 |
| | 35,188 |
| | 139,470 |
| | 139,082 |
|
Total cost of sales | 139,628 |
| | 141,906 |
| | 475,541 |
| | 508,125 |
|
Gross profit | 132,938 |
| | 123,399 |
| | 454,591 |
| | 448,155 |
|
Operating Expenses: | | | | | | | |
Research and development | 25,294 |
| | 25,434 |
| | 95,569 |
| | 102,613 |
|
Selling, general and administrative | 49,181 |
| | 49,170 |
| | 181,563 |
| | 197,682 |
|
Impairment of goodwill and long-lived assets | — |
| | — |
| | 26,596 |
| | — |
|
Restructuring and reorganization | 2 |
| | 7,201 |
| | (563 | ) | | 18,459 |
|
Total operating expenses | 74,477 |
| | 81,805 |
| | 303,165 |
| | 318,754 |
|
Operating Income | 58,461 |
| | 41,594 |
| | 151,426 |
| | 129,401 |
|
Other Expense, Net | (705 | ) | | (564 | ) | | (3,634 | ) | | (2,471 | ) |
Income Before Income Taxes | 57,756 |
| | 41,030 |
| | 147,792 |
| | 126,930 |
|
Income Tax Expense | 9,509 |
| | 7,639 |
| | 23,783 |
| | 21,866 |
|
Net Income | $ | 48,247 |
| | $ | 33,391 |
| | $ | 124,009 |
| | $ | 105,064 |
|
Basic Net Income Per Share | $ | 1.18 |
| | $ | 0.80 |
| | $ | 2.99 |
| | $ | 2.50 |
|
Diluted Net Income Per Share | $ | 1.17 |
| | $ | 0.79 |
| | $ | 2.96 |
| | $ | 2.47 |
|
Weighted Average Shares Outstanding: | | | | | | | |
Basic | 40,887 |
| | 41,726 |
| | 41,419 |
| | 41,969 |
|
Diluted | 41,256 |
| | 42,221 |
| | 41,839 |
| | 42,528 |
|
FEI Company and Subsidiaries
Consolidated Statements of Operations
(Unaudited)
|
| | | | | | | | | | | |
| Thirteen Weeks Ended (1) | | Fifty-Two Weeks Ended (1) |
| December 31,
2015 | | December 31,
2014 | | December 31,
2015 | | December 31,
2014 |
Net Sales: | | | | | | | |
Products | 75.6 | % | | 77.3 | % | | 73.7 | % | | 75.6 | % |
Service | 24.4 |
| | 22.7 |
| | 26.3 |
| | 24.4 |
|
Total net sales | 100.0 | % | | 100.0 | % | | 100.0 | % | | 100.0 | % |
Cost of Sales: | | | | | | | |
Products | 37.1 | % | | 40.2 | % | | 36.1 | % | | 38.6 | % |
Service | 14.1 |
| | 13.3 |
| | 15.0 |
| | 14.5 |
|
Total cost of sales | 51.2 | % | | 53.5 | % | | 51.1 | % | | 53.1 | % |
Gross Margin: | | | | | | | |
Products | 51.0 | % | | 48.0 | % | | 51.0 | % | | 48.9 | % |
Service | 42.0 |
| | 41.4 |
| | 43.0 |
| | 40.5 |
|
Gross margin | 48.8 |
| | 46.5 |
| | 48.9 |
| | 46.9 |
|
Operating Expenses: | | | | | | | |
Research and development | 9.3 | % | | 9.6 | % | | 10.3 | % | | 10.7 | % |
Selling, general and administrative | 18.0 |
| | 18.5 |
| | 19.5 |
| | 20.7 |
|
Impairment of goodwill and long-lived assets | — |
| | — |
| | 2.9 |
| | — |
|
Restructuring and reorganization | — |
| | 2.7 |
| | (0.1 | ) | | 1.9 |
|
Total operating expenses | 27.3 | % | | 30.8 | % | | 32.6 | % | | 33.3 | % |
Operating Income | 21.4 | % | | 15.7 | % | | 16.3 | % | | 13.5 | % |
Other Expense, Net | (0.3 | )% | | (0.2 | )% | | (0.4 | )% | | (0.3 | )% |
Income Before Income Taxes | 21.2 | % | | 15.5 | % | | 15.9 | % | | 13.3 | % |
Income Tax Expense | 3.5 | % | | 2.9 | % | | 2.6 | % | | 2.3 | % |
Net Income | 17.7 | % | | 12.6 | % | | 13.3 | % | | 11.0 | % |
| |
(1) | Percentages may not add due to rounding. |
FEI Company and Subsidiaries
Consolidated Summary of Cash Flows
(In thousands)
(Unaudited)
|
| | | | | | | | | | | | | | | |
| Thirteen Weeks Ended | | Fifty-Two Weeks Ended |
| December 31,
2015 | | December 31,
2014 | | December 31,
2015 | | December 31,
2014 |
Net Income | $ | 48,247 |
| | $ | 33,391 |
| | $ | 124,009 |
| | $ | 105,064 |
|
Depreciation | 6,437 |
| | 6,663 |
| | 24,801 |
| | 29,042 |
|
Amortization | 2,745 |
| | 3,812 |
| | 11,225 |
| | 14,290 |
|
Stock-based compensation | 5,764 |
| | 5,676 |
| | 22,379 |
| | 23,132 |
|
Impairment of goodwill and long-lived assets | — |
| | 1,097 |
| | 26,596 |
| | 1,379 |
|
Other changes in working capital | 6,555 |
| | 19,668 |
| | (4,530 | ) | | (29,998 | ) |
Net cash provided by operating activities | 69,748 |
| | 70,307 |
| | 204,480 |
| | 142,909 |
|
Acquisition of property, plant and equipment | (6,914 | ) | | (14,052 | ) | | (17,023 | ) | | (49,481 | ) |
Payments for acquisitions, net of cash acquired | (161,811 | ) | | — |
| | (167,188 | ) | | (65,049 | ) |
Other investing activities | 67,518 |
| | 15,681 |
| | 144,360 |
| | (2,285 | ) |
Net cash (used in) provided by investing activities | (101,207 | ) | | 1,629 |
| | (39,851 | ) | | (116,815 | ) |
Dividends paid on common stock | (12,333 | ) | | (10,443 | ) | | (45,673 | ) | | (31,062 | ) |
Repurchases of common stock | (34,664 | ) | | (22,208 | ) | | (107,238 | ) | | (62,523 | ) |
Other financing activities | 2,465 |
| | (1,757 | ) | | 11,139 |
| | 9,183 |
|
Net cash used in financing activities | (44,532 | ) | | (34,408 | ) | | (141,772 | ) | | (84,402 | ) |
Effect of exchange rate changes | (4,956 | ) | | (9,462 | ) | | (22,453 | ) | | (25,355 | ) |
(Decrease) increase in cash and cash equivalents | (80,947 | ) | | 28,066 |
| | $ | 404 |
| | $ | (83,663 | ) |
Cash and Cash Equivalents: | | | | | | | |
Beginning of period | 381,858 |
| | 272,441 |
| | 300,507 |
| | 384,170 |
|
End of period | $ | 300,911 |
| | $ | 300,507 |
| | $ | 300,911 |
| | $ | 300,507 |
|
Supplemental Cash Flow Information: | | | | | | | |
Cash paid for income taxes, net | $ | 2,768 |
| | $ | 2,525 |
| | $ | 25,190 |
| | $ | 16,983 |
|
Accrued purchases of plant and equipment | 2,193 |
| | 700 |
| | 2,193 |
| | 700 |
|
Dividends declared but not paid | 12,257 |
| | 10,385 |
| | 12,257 |
| | 10,385 |
|
FEI Company and Subsidiaries
Adjusted EBITDA Reconciliation
(In thousands)
(Unaudited)
|
| | | | | | | | | | | | | | | |
| Thirteen Weeks Ended | | Fifty-Two Weeks Ended |
| December 31,
2015 | | December 31,
2014 | | December 31,
2015 | | December 31,
2014 |
GAAP Operating Income | $ | 58,461 |
| | $ | 41,594 |
| | $ | 151,426 |
| | $ | 129,401 |
|
Add: Depreciation | 6,437 |
| | 6,663 |
| | 24,801 |
| | 29,042 |
|
Add: Amortization | 2,745 |
| | 3,812 |
| | 11,225 |
| | 14,290 |
|
EBITDA | 67,643 |
| | 52,069 |
| | 187,452 |
| | 172,733 |
|
Add: Impairment of goodwill and long-lived assets | — |
| | — |
| | 26,596 |
| | — |
|
Add: Restructuring and integration costs | 562 |
| | 9,760 |
| | (3 | ) | | 26,559 |
|
Add: DCG transaction costs | 3,257 |
| | — |
| | 3,257 |
| | — |
|
Adjusted EBITDA | $ | 71,462 |
| | $ | 61,829 |
| | $ | 217,302 |
| | $ | 199,292 |
|
FEI Company and Subsidiaries
Supplemental Data Table
($ in millions, except per share amounts)
(Unaudited)
|
| | | | | | | | | | | | | | | |
| Thirteen Weeks Ended | | Fifty-Two Weeks Ended |
| December 31, 2015 | | December 31, 2014 | | December 31, 2015 | | December 31, 2014 |
Income Statement Highlights: | | | | | | | |
Consolidated sales | $ | 272.6 |
| | $ | 265.3 |
| | $ | 930.1 |
| | $ | 956.3 |
|
Gross margin | 48.8 | % | | 46.5 | % | | 48.9 | % | | 46.9 | % |
Net income | $ | 48.2 |
| | $ | 33.4 |
| | $ | 124.0 |
| | $ | 105.1 |
|
Diluted net income per share | $ | 1.17 |
| | $ | 0.79 |
| | $ | 2.96 |
| | $ | 2.47 |
|
Sales and Bookings Highlights: | | | | | | | |
Sales by Segment | | | | | | | |
Industry Group | $ | 109.6 |
| | $ | 109.5 |
| | $ | 446.3 |
| | $ | 450.2 |
|
Science Group | 163.0 |
| | 155.8 |
| | 483.8 |
| | 506.1 |
|
Sales by Geography | | | | | | | |
USA & Canada | $ | 80.0 |
| | $ | 75.9 |
| | $ | 297.7 |
| | $ | 305.6 |
|
Europe | 87.0 |
| | 80.6 |
| | 246.9 |
| | 267.8 |
|
Asia-Pacific and Rest of World | 105.6 |
| | 108.8 |
| | 385.5 |
| | 382.9 |
|
Gross Margin by Segment | | | | | | | |
Industry Group | 51.6 | % | | 49.9 | % | | 52.2 | % | | 51.1 | % |
Science Group | 46.9 |
| | 44.1 |
| | 45.8 |
| | 43.1 |
|
Bookings and Backlog | | | | | | | |
Bookings - Total | $ | 294.3 |
| | $ | 273.3 |
| | $ | 995.6 |
| | $ | 1,046.4 |
|
Book-to-bill Ratio | 1.08 |
| | 1.03 |
| | 1.07 |
| | 1.09 |
|
Backlog - Total | $ | 590.6 |
| | $ | 535.6 |
| | $ | 590.6 |
| | $ | 535.6 |
|
Backlog - Service | 173.5 |
| | 170.8 |
| | 173.5 |
| | 170.8 |
|
Bookings by Segment | | | | | | | |
Industry Group | $ | 106.2 |
| | $ | 102.3 |
| | $ | 470.7 |
| | $ | 493.4 |
|
Science Group | 188.1 |
| | 171.0 |
| | 524.9 |
| | 553.0 |
|
Bookings by Geography | | | | | | | |
USA & Canada | $ | 105.1 |
| | $ | 69.0 |
| | $ | 348.6 |
| | $ | 303.5 |
|
Europe | 93.2 |
| | 88.3 |
| | 259.3 |
| | 321.8 |
|
Asia-Pacific and Rest of World | 96.0 |
| | 116.0 |
| | 387.6 |
| | 421.1 |
|
Balance Sheet and Other Highlights: | | | | | | | |
Cash, equivalents, investments, restricted cash | $ | 350.8 |
| | $ | 502.1 |
| | $ | 350.8 |
| | $ | 502.1 |
|
Days sales outstanding (DSO) | 71 |
| | 78 |
| | 71 |
| | 78 |
|
Days in inventory | 149 |
| | 152 |
| | 149 |
| | 152 |
|
Days in payables (DPO) | 38 |
| | 50 |
| | 38 |
| | 50 |
|
Cash Cycle (DSO + Days in Inventory - DPO) | 182 |
| | 180 |
| | 182 |
| | 180 |
|
Working capital | $ | 469.8 |
| | $ | 528.0 |
| | $ | 469.8 |
| | $ | 528.0 |
|
Headcount (permanent and temporary) | 3,060 |
| | 2,660 |
| | 3,060 |
| | 2,660 |
|
Euro average rate | 1.10 |
| | 1.25 |
| | 1.11 |
| | 1.33 |
|
Euro ending rate | 1.09 |
| | 1.21 |
| | 1.09 |
| | 1.21 |
|
Yen average rate | 121.44 |
| | 113.50 |
| | 121.02 |
| | 105.45 |
|
Yen ending rate | 120.39 |
| | 119.59 |
| | 120.39 |
| | 119.59 |
|
Fei Company (MM) (NASDAQ:FEIC)
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From Mar 2024 to Apr 2024
Fei Company (MM) (NASDAQ:FEIC)
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From Apr 2023 to Apr 2024
