Adobe (ADBE) FY2011 results: revenue $4.2 billion, up 11.0% on the year
Adobe Inc. (ADBE) reported revenue of $4.2 billion for fiscal 2011, the year ended 2 December 2011, up 11.0% on the year before. Net income was $833 million, up 7.5%, and diluted earnings per share $1.65. The figures are the company's own, from the 10-K it filed with the SEC on 26 January 2012.
Revenue
$4.2 billion
+11.0% on the year
FY2007FY2011
Operating margin
26.1%
26.1% a year earlier
FY2007FY2011
Net income
$833 million
+7.5% on the year
FY2007FY2011
Diluted EPS
$1.65
+12.2% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
4,216
3,800
2,946
+11.0%
Cost of revenue
438
404
297
+8.5%
Gross profit
3,778
3,396
2,649
+11.2%
Gross margin
89.6%
89.4%
89.9%
Operating income
1,099
993
691
+10.7%
Operating margin
26.1%
26.1%
23.4%
Interest expense
67.0
57.0
3.4
+17.6%
Pre-tax income
1,035
943
702
+9.8%
Income tax
202
168
315
+20.1%
Effective tax rate
19.5%
17.9%
44.9%
Net income
833
775
387
+7.5%
Net margin
19.8%
20.4%
13.1%
Diluted EPS
$1.65
$1.47
$0.73
+12.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
1,543
1,113
1,118
+38.7%
Capital expenditure
210
170
120
+24.0%
Free cash flow
1,333
943
998
+41.3%
Free cash flow margin
31.6%
24.8%
33.9%
Cash from investing
-757
-1,159
-1,497
Cash from financing
-550
-215
478
Depreciation and amortisation
270
293
282
-7.7%
Share-based compensation
286
231
168
+23.8%
Buybacks
695
850
350
-18.2%
Diluted shares, weighted
504m
526m
531m
-4.2%
Shares outstanding at period end
492m
502m
523m
-2.1%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
5,783
5,192
4,891
+11.4%
Debt
1,505
1,514
1,000
-0.6%
Other liabilities
1,703
1,435
1,392
+18.7%
Total liabilities and equity
8,991
8,141
7,282
+10.4%
Fixed assets
528
449
388
+17.6%
Goodwill
3,849
3,642
3,495
+5.7%
Intangible assets
546
529
527
+3.2%
Investments
1,922
1,718
905
+11.9%
Cash and equivalents
990
750
999
+32.0%
Receivables
634
554
411
+14.4%
Other assets
523
499
557
+4.7%
Total assets
8,991
8,141
7,282
+10.4%
10-K for the year ended 2 December 2011, filed 26 January 2012: the filing.