Applied Materials (AMAT) FY2012 results: revenue $8.7 billion, down 17.1% on the year
Applied Materials Inc. (AMAT) reported revenue of $8.7 billion for fiscal 2012, the year ended 28 October 2012, down 17.1% on the year before. Net income was $109 million, down 94.3%, and diluted earnings per share $0.09. The figures are the company's own, from the 10-K it filed with the SEC on 5 December 2012.
Revenue
$8.7 billion
-17.1% on the year
FY2007FY2012
Operating margin
4.7%
22.8% a year earlier
FY2007FY2012
Net income
$109 million
-94.3% on the year
FY2007FY2012
Diluted EPS
$0.09
-93.8% 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
8,719
10,517
9,549
-17.1%
Cost of revenue
5,406
6,157
5,834
-12.2%
Gross profit
3,313
4,360
3,715
-24.0%
Gross margin
38.0%
41.5%
38.9%
Research and development
1,237
1,118
1,144
+10.6%
Selling, general and administrative
1,076
901
942
+19.4%
Operating income
411
2,398
1,384
-82.9%
Operating margin
4.7%
22.8%
14.5%
Interest expense
95.0
59.0
21.0
+61.0%
Pre-tax income
316
2,378
1,387
-86.7%
Income tax
207
452
449
-54.2%
Effective tax rate
65.5%
19.0%
32.4%
Net income
109
1,926
938
-94.3%
Net margin
1.3%
18.3%
9.8%
Diluted EPS
$0.09
$1.45
$0.70
-93.8%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,851
2,426
1,723
-23.7%
Capital expenditure
162
209
169
-22.5%
Free cash flow
1,689
2,217
1,554
-23.8%
Free cash flow margin
19.4%
21.1%
16.3%
Cash from investing
-4,660
707
-862
Cash from financing
-1,754
960
-576
Depreciation and amortisation
422
246
305
+71.5%
Share-based compensation
182
146
126
+24.7%
Buybacks
1,416
468
350
+202.6%
Dividends paid
434
397
349
+9.3%
Dividend per share
n/a
n/a
$0.07
Diluted shares, weighted
1,277m
1,330m
1,349m
-4.0%
Shares outstanding at period end
1,197m
1,306m
1,328m
-8.3%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
7,235
8,800
7,536
-17.8%
Short-term borrowings
n/a
n/a
0.0
Debt
1,946
1,947
206
-0.1%
Other liabilities
2,921
3,114
3,201
-6.2%
Total liabilities and equity
12,102
13,861
10,943
-12.7%
Fixed assets
910
866
963
+5.1%
Goodwill
3,518
1,335
1,336
+163.5%
Intangible assets
1,355
211
287
+542.2%
Investments
1,600
1,214
2,034
+31.8%
Cash and equivalents
1,392
5,960
1,858
-76.6%
Receivables
1,220
1,532
1,831
-20.4%
Inventory
1,272
1,701
1,547
-25.2%
Other assets
835
1,042
1,087
-19.9%
Total assets
12,102
13,861
10,943
-12.7%
10-K for the year ended 28 October 2012, filed 5 December 2012: the filing.