AMETEK (AME) FY2011 results: revenue $3.0 billion, up 21.0% on the year
AMETEK Inc. (AME) reported revenue of $3.0 billion for fiscal 2011, the year ended 31 December 2011, up 21.0% on the year before. Net income was $384 million, up 35.4%, and diluted earnings per share $1.58. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2012.
Revenue
$3.0 billion
+21.0% on the year
FY2007FY2011
Operating margin
21.3%
19.5% a year earlier
FY2007FY2011
Net income
$384 million
+35.4% on the year
FY2007FY2011
Diluted EPS
$1.58
+34.7% 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
2,990
2,471
2,098
+21.0%
Research and development
78.0
56.8
50.5
+37.3%
Selling, general and administrative
349
296
254
+17.8%
Operating income
636
482
366
+31.9%
Operating margin
21.3%
19.5%
17.4%
Interest expense
69.7
67.5
68.8
+3.3%
Pre-tax income
557
406
295
+37.0%
Income tax
172
122
88.9
+40.8%
Effective tax rate
30.9%
30.1%
30.2%
Net income
384
284
206
+35.4%
Net margin
12.9%
11.5%
9.8%
Diluted EPS
$1.58
$1.17
$0.85
+34.7%
$ 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
509
423
365
+20.2%
Capital expenditure
50.8
39.2
33.1
+29.7%
Free cash flow
458
384
332
+19.3%
Free cash flow margin
15.3%
15.5%
15.8%
Cash from investing
-526
-567
-106
Cash from financing
31.9
62.6
-103
-49.1%
Depreciation and amortisation
86.5
72.9
65.5
+18.7%
Share-based compensation
22.1
16.6
13.5
+33.4%
Buybacks
59.3
78.6
0.0
-24.5%
Dividends paid
38.4
28.6
25.6
+34.4%
Dividend per share
$0.16
$0.12
n/a
+33.3%
Diluted shares, weighted
243m
241m
243m
+0.8%
Shares outstanding at period end
241m
241m
364m
-0.2%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
2,053
1,775
1,567
+15.6%
Debt
1,264
1,169
1,042
+8.2%
Other liabilities
1,003
875
637
+14.6%
Total liabilities and equity
4,319
3,819
3,246
+13.1%
Fixed assets
325
318
310
+2.3%
Goodwill
1,806
1,574
1,277
+14.8%
Intangible assets
983
762
522
+29.1%
Investments
4.6
5.6
5.0
-19.2%
Cash and equivalents
170
163
246
+4.4%
Receivables
438
400
331
+9.6%
Inventory
380
335
312
+13.5%
Other assets
211
262
243
-19.2%
Total assets
4,319
3,819
3,246
+13.1%
10-K for the year ended 31 December 2011, filed 23 February 2012: the filing.