Item 6. SELECTED FINANCIAL DATA

5K characters. Original on sec.gov · Markdown

Item 6. SELECTED FINANCIAL DATA

The following table sets forth selected consolidated financial data of the Company for each of the last five fiscal years of the Company. The selected consolidated financial data presented below has been derived from the Company’s consolidated financial statements. This financial data should be read in conjunction with the consolidated financial statements, related notes and other financial information appearing elsewhere in this Annual Report on Form 10-K.

On May 6, 2015, we announced a two-for-one split of our outstanding shares of common stock which was effected through a stock dividend that was paid through the issuance of treasury shares. All share and per share amounts presented below retroactively reflect the effect of the stock split.


	For the Years Ended December 31,
	(in thousands, except per share data)
		2015		2014		2013		2012		2011

INCOME STATEMENT DATA:
Revenue	$	1,601,892	$	1,485,807	$	1,377,058	$	1,293,338	$	1,218,689
Cost of revenue		711,622		669,691		620,940		594,190		572,183
Gross profit		890,270		816,116		756,118		699,148		646,506
Expenses:
Sales and marketing		299,955		283,708		243,492		216,962		204,850
General and administrative		182,510		173,890		157,861		137,609		129,389
Research and development		99,681		98,263		88,003		82,014		76,042
Impairment charge		8,212		-		-		-		-
Income from operations		299,912		260,255		266,762		262,563		236,225
Interest expense, net		(26,771)		(13,700)		(3,501)		(1,946)		(1,803)
Income before provision for income taxes		273,141		246,555		263,261		260,617		234,422
Provision for income taxes		81,006		64,604		75,467		82,330		72,668
Net income		192,135		181,951		187,794		178,287		161,754
Less: Net income (loss) attributable to noncontrolling interest		57		45		(6)		20		(32)
Net income attributable to IDEXX Laboratories, Inc. stockholders	$	192,078	$	181,906	$	187,800	$	178,267	$	161,786
Earnings per share:
Basic	$	2.07	$	1.82	$	1.77	$	1.62	$	1.42
Diluted		2.05		1.79		1.74		1.59		1.39
Weighted average shares outstanding:
Basic		92,601		100,094		106,318		109,969		113,579
Diluted		93,649		101,503		107,970		112,311		116,429

BALANCE SHEET DATA:
Cash and cash equivalents	$	128,994	$	322,536	$	279,058	$	223,986	$	183,895
Marketable securities(1)		213,591		-		-		-		-
Cash and cash equivalents and marketable securities		342,585		322,536		279,058		223,986		183,895
Working capital		(35,127)		(61,508)		174,353		163,204		87,348
Total assets		1,474,993		1,384,211		1,230,516		1,103,602		1,030,814
Total long-term debt(2)		597,085		350,000		150,359		1,394		2,501
Total stockholders' equity (deficit)		(83,995)		117,589		518,214		636,257		539,593

(1) During the year ended December 31, 2015, we purchased marketable debt securities, which are classified as available-for-sale and carried at fair value in the accompanying consolidated balance sheets on a trade date basis. See Note 5 to the consolidated financial statements included in this Annual Report on Form 10-K for additional information regarding our marketable securities.

(2) Between December 2013 and June 2015, we issued and sold approximately $600 million in senior notes through private placements at fixed interest rates ranging from 1.785% to 4.04%. See Note 11 to the consolidated financial statements included in this Annual Report on Form 10-K for additional information regarding our senior notes.

Previous: Item 5. MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES · Next: Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS