Albemarle (ALB) FY2012 results: revenue $2.5 billion, down 5.0% on the year
Albemarle Corp. (ALB) reported revenue of $2.5 billion for fiscal 2012, the year ended 31 December 2012, down 5.0% on the year before. Net income was $312 million, down 20.5%, and diluted earnings per share $3.47. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2013.
Revenue
$2.5 billion
-5.0% on the year
FY2008FY2012
Operating margin
15.9%
19.6% a year earlier
FY2008FY2012
Net income
$312 million
-20.5% on the year
FY2008FY2012
Diluted EPS
$3.47
-18.9% on the year
FY2008FY2012
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
2,519
2,652
2,363
-5.0%
Cost of revenue
1,620
1,700
1,621
-4.7%
Gross profit
899
952
742
-5.6%
Gross margin
35.7%
35.9%
31.4%
Research and development
78.9
77.1
58.4
+2.4%
Selling, general and administrative
308
355
275
-13.1%
Operating income
400
520
402
-23.1%
Operating margin
15.9%
19.6%
17.0%
Pre-tax income
661
720
527
-8.2%
Income tax
80.4
104
87.8
-23.0%
Effective tax rate
12.2%
14.5%
16.6%
Net income
312
392
316
-20.5%
Net margin
12.4%
14.8%
13.4%
Diluted EPS
$3.47
$4.28
$3.43
-18.9%
$ 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
489
487
331
+0.3%
Capital expenditure
281
191
75.5
+47.4%
Free cash flow
208
297
256
-30.0%
Free cash flow margin
8.3%
11.2%
10.8%
Cash from investing
-301
-213
-92.2
Cash from financing
-177
-329
-7.9
Depreciation and amortisation
99.0
96.8
95.6
+2.3%
Share-based compensation
15.2
27.1
15.7
-43.8%
Buybacks
63.6
178
14.9
-64.3%
Dividends paid
69.1
57.8
49.6
+19.7%
Dividend per share
$0.80
$0.67
$0.56
+19.4%
Diluted shares, weighted
90m
92m
92m
-1.8%
Shares outstanding at period end
89m
89m
92m
+0.1%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,834
1,591
1,416
+15.2%
Non-controlling interest
98.4
87.5
59.7
+12.4%
Debt
699
764
861
-8.4%
Other liabilities
806
761
731
+5.9%
Total liabilities and equity
3,437
3,204
3,068
+7.3%
Fixed assets
1,297
1,129
1,006
+14.8%
Goodwill
277
273
272
+1.4%
Intangible assets
94.5
130
135
-27.5%
Investments
20.3
16.8
17.8
+20.8%
Cash and equivalents
478
469
530
+1.8%
Receivables
379
355
341
+6.6%
Inventory
428
431
389
-0.8%
Other assets
464
398
377
+16.7%
Total assets
3,437
3,204
3,068
+7.3%
10-K for the year ended 31 December 2012, filed 15 February 2013: the filing.