Albemarle (ALB) FY2011 results: revenue $2.7 billion, up 12.2% on the year
Albemarle Corp. (ALB) reported revenue of $2.7 billion for fiscal 2011, the year ended 31 December 2011, up 12.2% on the year before. Net income was $392 million, up 24.2%, and diluted earnings per share $4.28. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2012.
Revenue
$2.7 billion
+12.2% on the year
FY2008FY2011
Operating margin
19.6%
17.0% a year earlier
FY2008FY2011
Net income
$392 million
+24.2% on the year
FY2008FY2011
Diluted EPS
$4.28
+24.8% on the year
FY2008FY2011
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
2,652
2,363
2,005
+12.2%
Cost of revenue
1,700
1,621
1,522
+4.9%
Gross profit
952
742
484
+28.3%
Gross margin
35.9%
31.4%
24.1%
Research and development
77.1
58.4
60.9
+32.0%
Selling, general and administrative
355
275
213
+29.2%
Operating income
520
402
186
+29.3%
Operating margin
19.6%
17.0%
9.3%
Pre-tax income
720
527
257
+36.6%
Income tax
104
87.8
-7.0
+19.0%
Effective tax rate
14.5%
16.6%
-2.7%
Net income
392
316
178
+24.2%
Net margin
14.8%
13.4%
8.9%
Diluted EPS
$4.28
$3.43
$1.94
+24.8%
$ 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
487
331
359
+47.1%
Capital expenditure
191
75.5
101
+152.5%
Free cash flow
297
256
258
+16.0%
Free cash flow margin
11.2%
10.8%
12.9%
Cash from investing
-213
-92.2
-122
Cash from financing
-329
-7.9
-181
Depreciation and amortisation
96.8
95.6
101
+1.2%
Share-based compensation
27.1
15.7
0.3
+72.5%
Buybacks
178
14.9
5.8
+1,091.9%
Dividends paid
57.8
49.6
44.4
+16.3%
Dividend per share
$0.67
$0.56
$0.50
+19.6%
Diluted shares, weighted
92m
92m
92m
-0.7%
Shares outstanding at period end
89m
92m
92m
-3.0%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
1,591
1,416
1,206
+12.4%
Non-controlling interest
87.5
59.7
47.6
+46.7%
Debt
764
861
813
-11.3%
Other liabilities
761
731
706
+4.1%
Total liabilities and equity
3,204
3,068
2,772
+4.4%
Fixed assets
1,129
1,006
1,027
+12.2%
Goodwill
273
272
293
+0.3%
Intangible assets
130
135
151
-3.3%
Investments
16.8
17.8
146
-5.6%
Cash and equivalents
469
530
309
-11.4%
Receivables
355
341
294
+4.2%
Inventory
431
389
348
+10.9%
Other assets
398
377
205
+5.5%
Total assets
3,204
3,068
2,772
+4.4%
10-K for the year ended 31 December 2011, filed 22 February 2012: the filing.