Analog Devices (ADI) FY2012 results: revenue $2.7 billion, down 9.8% on the year
Analog Devices Inc. (ADI) reported revenue of $2.7 billion for fiscal 2012, the year ended 3 November 2012, down 9.8% on the year before. Net income was $651 million, down 24.9%, and diluted earnings per share $2.13. The figures are the company's own, from the 10-K it filed with the SEC on 27 November 2012.
Revenue
$2.7 billion
-9.8% on the year
FY2007FY2012
Operating margin
30.5%
35.8% a year earlier
FY2007FY2012
Net income
$651 million
-24.9% on the year
FY2007FY2012
Diluted EPS
$2.13
-24.2% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
2,701
2,993
2,762
-9.8%
Cost of revenue
960
1,007
962
-4.6%
Gross profit
1,741
1,987
1,799
-12.4%
Gross margin
64.5%
66.4%
65.2%
Research and development
512
506
492
+1.3%
Selling, general and administrative
397
407
391
-2.5%
Operating income
824
1,072
900
-23.1%
Operating margin
30.5%
35.8%
32.6%
Interest expense
26.4
19.1
10.4
+38.0%
Pre-tax income
814
1,061
902
-23.4%
Income tax
162
201
190
-19.1%
Effective tax rate
19.9%
18.9%
21.1%
Net income
651
867
712
-24.9%
Net margin
24.1%
29.0%
25.8%
Diluted EPS
$2.13
$2.81
$2.33
-24.2%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
815
901
991
-9.5%
Capital expenditure
132
123
112
+7.5%
Free cash flow
682
778
880
-12.2%
Free cash flow margin
25.3%
26.0%
31.9%
Cash from investing
-1,340
-704
-486
Cash from financing
-350
139
-72.6
Depreciation and amortisation
110
118
121
-7.1%
Share-based compensation
53.5
52.4
51.8
+2.2%
Buybacks
161
330
39.8
-51.2%
Dividends paid
345
282
250
+22.4%
Dividend per share
$1.15
$0.94
$0.84
+22.3%
Diluted shares, weighted
306m
308m
306m
-0.7%
Shares outstanding at period end
301m
298m
299m
+1.2%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
4,165
3,795
3,200
+9.7%
Debt
822
886
401
-7.3%
Other liabilities
633
596
728
+6.3%
Total liabilities and equity
5,620
5,278
4,329
+6.5%
Fixed assets
501
479
473
+4.6%
Goodwill
284
275
256
+3.2%
Intangible assets
28.8
12.2
1.3
+135.8%
Investments
3,373
2,190
1,619
+54.0%
Cash and equivalents
529
1,405
1,405
-62.4%
Receivables
340
348
387
-2.4%
Inventory
314
295
277
+6.3%
Other assets
251
273
n/a
-7.9%
Total assets
5,620
5,278
4,329
+6.5%
10-K for the year ended 3 November 2012, filed 27 November 2012: the filing.