Applied Materials (AMAT) FY2011 results: revenue $10.5 billion, up 10.1% on the year
Applied Materials Inc. (AMAT) reported revenue of $10.5 billion for fiscal 2011, the year ended 30 October 2011, up 10.1% on the year before. Net income was $1.9 billion, up 105.4%, and diluted earnings per share $1.45. The figures are the company's own, from the 10-K it filed with the SEC on 6 December 2011.
Revenue
$10.5 billion
+10.1% on the year
FY2007FY2011
Operating margin
22.8%
14.5% a year earlier
FY2007FY2011
Net income
$1.9 billion
+105.4% on the year
FY2007FY2011
Diluted EPS
$1.45
+107.1% 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
10,517
9,549
5,014
+10.1%
Cost of revenue
6,157
5,834
3,583
+5.5%
Gross profit
4,360
3,715
1,431
+17.4%
Gross margin
41.5%
38.9%
28.5%
Research and development
1,118
1,144
934
-2.2%
Selling, general and administrative
901
942
735
-4.4%
Operating income
2,398
1,384
-394
+73.3%
Operating margin
22.8%
14.5%
-7.9%
Interest expense
59.0
21.0
21.0
+181.0%
Pre-tax income
2,378
1,387
-486
+71.5%
Income tax
452
449
-181
+0.6%
Effective tax rate
19.0%
32.4%
n/a
Net income
1,926
938
-305
+105.4%
Net margin
18.3%
9.8%
-6.1%
Diluted EPS
$1.45
$0.70
-$0.23
+107.1%
$ 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
2,426
1,723
333
+40.8%
Capital expenditure
209
169
249
+23.6%
Free cash flow
2,217
1,554
83.7
+42.7%
Free cash flow margin
21.1%
16.3%
1.7%
Cash from investing
707
-862
112
Cash from financing
960
-576
-281
Depreciation and amortisation
246
305
291
-19.2%
Share-based compensation
146
126
147
+15.8%
Buybacks
468
350
23.0
+33.7%
Dividends paid
397
349
320
+13.9%
Dividend per share
n/a
$0.07
$0.06
Diluted shares, weighted
1,330m
1,349m
1,333m
-1.4%
Shares outstanding at period end
1,306m
1,328m
1,341m
-1.7%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
8,800
7,536
7,095
+16.8%
Short-term borrowings
n/a
0.0
n/a
Debt
1,947
206
202
+845.1%
Other liabilities
3,114
3,201
2,278
-2.7%
Total liabilities and equity
13,861
10,943
9,574
+26.7%
Fixed assets
866
963
1,090
-10.1%
Goodwill
1,335
1,336
1,171
-0.1%
Intangible assets
211
287
306
-26.4%
Investments
1,214
2,034
1,691
-40.3%
Cash and equivalents
5,960
1,858
1,576
+220.8%
Receivables
1,532
1,831
1,041
-16.3%
Inventory
1,701
1,547
1,627
+9.9%
Other assets
1,042
1,087
1,071
-4.1%
Total assets
13,861
10,943
9,574
+26.7%
10-K for the year ended 30 October 2011, filed 6 December 2011: the filing.