Align Technology (ALGN) FY2012 results: revenue $560 million, up 16.7% on the year
Align Technology Inc. (ALGN) reported revenue of $560 million for fiscal 2012, the year ended 31 December 2012, up 16.7% on the year before. Net income was $59 million, down 12.0%, and diluted earnings per share $0.71. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2013.
Revenue
$560 million
+16.7% on the year
FY2008FY2012
Operating margin
15.3%
18.8% a year earlier
FY2008FY2012
Net income
$59 million
-12.0% on the year
FY2008FY2012
Diluted EPS
$0.71
-14.5% 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
560
480
387
+16.7%
Cost of revenue
144
118
83.7
+21.3%
Gross profit
416
361
303
+15.3%
Gross margin
74.3%
75.3%
78.4%
Research and development
42.9
37.2
26.0
+15.4%
Operating income
85.6
90.4
103
-5.3%
Operating margin
15.3%
18.8%
26.5%
Interest expense
n/a
0.1
0.0
Pre-tax income
84.3
89.9
102
-6.3%
Income tax
25.6
23.2
27.8
+10.2%
Effective tax rate
30.4%
25.8%
27.2%
Net income
58.7
66.7
74.3
-12.0%
Net margin
10.5%
13.9%
19.2%
Diluted EPS
$0.71
$0.83
$0.95
-14.5%
$ 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
134
130
130
+2.5%
Capital expenditure
38.3
30.4
18.0
+26.1%
Free cash flow
95.4
100
111
-4.6%
Free cash flow margin
17.0%
20.9%
28.8%
Cash from investing
-78.3
-212
-15.9
Cash from financing
10.2
27.2
14.7
-62.5%
Depreciation and amortisation
17.8
12.1
11.4
+47.1%
Share-based compensation
21.5
19.2
16.1
+12.1%
Buybacks
47.2
7.8
0.0
+508.8%
Diluted shares, weighted
83m
80m
78m
+3.4%
Shares outstanding at period end
81m
79m
76m
+2.3%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
581
491
378
+18.4%
Debt
0.0
0.0
0.0
Other liabilities
175
158
99.2
+10.4%
Total liabilities and equity
756
649
477
+16.5%
Fixed assets
79.2
54.0
30.7
+46.7%
Goodwill
99.2
135
0.5
-26.7%
Intangible assets
45.8
50.0
2.2
-8.5%
Investments
49.7
7.4
17.7
+572.6%
Cash and equivalents
306
306
295
0.0%
Receivables
99.0
91.5
65.4
+8.1%
Inventory
15.1
9.4
2.5
+60.8%
Other assets
61.9
n/a
63.3
Total assets
756
649
477
+16.5%
10-K for the year ended 31 December 2012, filed 1 March 2013: the filing.