SAE International ended 2016 financially sound and well-positioned to provide ongoing support for the realization of the Long-Range Strategic Roadmap.
The Consolidated Statements of Financial Position reflect total assets of $98.4 million at the end of 2016. This increase of $7.8 million from 2015 is primarily due to increases in cash, accounts receivable and investments.
SAE had very strong operating results for the year ending December 31, 2016. The Consolidated Statements of Activities and Changes in Net Assets reflect operating revenue of $88.3 million and net margin from operations of $2.6 million, both exceeding SAE’s Financial Management Policy targets. Revenue growth was attributable to a combination of impressive financial results from Publications, Events, and Professional Development and a continued emphasis on new products and global expansion.
Despite the positive operating results, non-operating results reduced net assets by $2.6 million causing total net assets to remain consistent at $35.8 million at both December 31, 2016, and December 31, 2015. The decline can be primarily attributed to a non-cash pension adjustment of $5.5 million which was partially offset by investment income of $3.3 million.
SAE’s financial health continues to improve each year. As of December 31, 2016, SAE had cash on hand of $8.6 million and investments of $52.6 million. In addition, SAE reduced debt from $1.5 million to $0.4 million. The strong Statement of Financial Position coupled with positive operating results has SAE poised to continue delivering value and achieving its strategic objectives.