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In millions, except per share items | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 | Dec-31-12 | Dec-31-11 | Dec-31-10 | Dec-31-09 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Revenues: |
HSN | 2,474.6 | 2,542.1 | 2,476.1 | 2,312.4 | 2,265.0 | 2,160.3 | 2,115.9 | 2,007.9 |
Cornerstone | 1,092.9 | 1,148.5 | 1,111.9 | 1,091.6 | 1,001.7 | 909.0 | 768.4 | 741.7 |
Total revenues | 3,567.5 | 3,690.6 | 3,588.0 | 3,404.0 | 3,266.7 | 3,069.4 | 2,884.3 | 2,749.6 |
Revenue growth [+] | -3.3% | 2.9% | 5.4% | 4.2% | 6.4% | 6.4% | 4.9% | -2.6% |
HSN | -2.7% | 2.7% | 7.1% | 2.1% | 4.8% | 2.1% | 5.4% | 2.6% |
Cornerstone | -4.8% | 3.3% | 1.9% | 9.0% | 10.2% | 18.3% | 3.6% | -14.4% |
Cost of goods sold | 2,350.8 | 2,376.0 | 2,314.9 | 2,174.2 | 2,083.0 | 1,969.1 | 1,878.5 | 1,768.3 |
Gross profit | 1,216.7 | 1,314.6 | 1,273.1 | 1,229.8 | 1,183.7 | 1,100.3 | 1,005.8 | 981.3 |
Gross margin | 34.1% | 35.6% | 35.5% | 36.1% | 36.2% | 35.8% | 34.9% | 35.7% |
Selling, general and administrative [+] | 936.9 | 980.5 | 944.5 | 906.6 | 887.0 | 825.4 | 769.5 | 730.0 |
Sales and marketing | 743.5 | 763.1 | 737.4 | 695.8 | 662.3 | 616.4 | 572.3 | 507.6 |
General and administrative | 193.4 | 217.4 | 207.1 | 210.8 | 224.7 | 209.0 | 197.2 | 222.5 |
Other operating expenses | 31.2 | 1.5 | 3.1 | | | | | 57.1 |
Adjusted EBITDA | 267.8 | 351.1 | 341.0 | 337.9 | 324.3 | 302.8 | 258.9 | 206.1 |
Adjusted EBITDA margin | 7.5% | 9.5% | 9.5% | 9.9% | 9.9% | 9.9% | 9.0% | 7.5% |
Stock-based compensation | 19.2 | 18.4 | 15.6 | 14.0 | 19.1 | 26.4 | 21.2 | 11.3 |
EBITDA [+] | 248.5 | 332.7 | 325.4 | 323.2 | 296.7 | 274.9 | 236.3 | 194.2 |
EBITDA growth | -25.3% | 2.2% | 0.7% | 8.9% | 8.0% | 16.3% | 21.7% | 50.3% |
EBITDA margin | 7.0% | 9.0% | 9.1% | 9.5% | 9.1% | 9.0% | 8.2% | 7.1% |
Depreciation | 42.7 | 43.4 | 43.9 | 39.2 | 36.2 | 35.4 | 36.9 | 37.9 |
EBITA | 205.8 | 289.2 | 281.5 | 284.1 | 260.5 | 239.4 | 199.4 | 156.3 |
EBITA margin | 5.8% | 7.8% | 7.8% | 8.3% | 8.0% | 7.8% | 6.9% | 5.7% |
Amortization of intangibles | | | | 1.4 | 1.8 | 0.4 | 0.6 | 0.6 |
EBIT [+] | 205.8 | 289.2 | 281.5 | 282.7 | 258.7 | 239.0 | 198.8 | 155.7 |
EBIT growth | -28.8% | 2.7% | -0.4% | 9.2% | 8.2% | 20.2% | 27.7% | 84.6% |
EBIT margin | 5.8% | 7.8% | 7.8% | 8.3% | 7.9% | 7.8% | 6.9% | 5.7% |
Non-recurring items | | 5.2 | -3.1 | | | | | |
Interest expense, net [+] | 16.1 | 15.2 | 7.1 | 6.5 | 20.2 | 31.3 | 32.2 | 35.0 |
Interest expense | 16.2 | 15.3 | 7.3 | 6.7 | 20.8 | 32.0 | 33.1 | 35.4 |
Interest income | 0.1 | 0.1 | 0.2 | 0.2 | 0.6 | 0.7 | 0.9 | 0.3 |
Other income (expense), net [+] | | | | | -18.6 | | | |
Gain (loss) on debt retirement | | | | | -18.6 | | | |
Other | -16.1 | -15.2 | -7.1 | -6.5 | -38.9 | -31.3 | -32.2 | -35.0 |
Pre-tax income | 189.7 | 268.9 | 277.5 | 276.1 | 219.9 | 207.8 | 166.6 | 120.6 |
Income taxes | 71.0 | 99.6 | 104.5 | 97.7 | 83.4 | 80.1 | 66.2 | 48.1 |
Tax rate | 37.4% | 37.1% | 37.7% | 35.4% | 37.9% | 38.6% | 39.7% | 39.9% |
Earnings from continuing ops | 118.7 | 169.2 | 173.0 | 178.4 | 136.5 | 127.7 | 100.4 | 72.5 |
Earnings from discontinued ops | | | | | -5.8 | -4.6 | -1.9 | |
Net income | 118.7 | 169.2 | 173.0 | 178.4 | 130.7 | 123.1 | 98.5 | 72.5 |
Net margin | 3.3% | 4.6% | 4.8% | 5.2% | 4.0% | 4.0% | 3.4% | 2.6% |
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Basic EPS [+] | $2.27 | $3.22 | $3.28 | $3.33 | $2.42 | $2.18 | $1.75 | $1.29 |
Growth | -29.5% | -2.0% | -1.4% | 37.3% | 11.3% | 24.4% | 36.1% | -103.0% |
Diluted EPS [+] | $2.25 | $3.16 | $3.23 | $3.25 | $2.36 | $2.10 | $1.69 | $1.26 |
Growth | -29.0% | -1.9% | -0.9% | 38.1% | 12.0% | 24.7% | 33.4% | -103.0% |
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Dividends per share [+] | $1.40 | $11.40 | $1.10 | $0.79 | $0.56 | $0.13 | | |
Growth | -87.7% | 936.4% | 39.2% | 42.3% | 344.0% | | | |
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Shares outstanding (basic) [+] | 52.4 | 52.6 | 52.7 | 53.6 | 56.3 | 58.6 | 57.4 | 56.4 |
Growth | -0.5% | -0.2% | -1.7% | -4.7% | -4.0% | 2.1% | 1.8% | 0.3% |
Shares outstanding (diluted) [+] | 52.9 | 53.5 | 53.6 | 54.9 | 58.0 | 60.7 | 59.5 | 57.3 |
Growth | -1.2% | -0.2% | -2.2% | -5.3% | -4.5% | 1.9% | 3.9% | 2.0% |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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