American Tower (AMT) FY2011 results: revenue $2.4 billion, up 23.1% on the year
American Tower Corp. (AMT) reported revenue of $2.4 billion for fiscal 2011, the year ended 31 December 2011, up 23.1% on the year before. Net income was $396 million, up 6.3%, and diluted earnings per share $0.99. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2012.
Revenue
$2.4 billion
+23.1% on the year
FY2007FY2011
Operating margin
37.7%
39.5% a year earlier
FY2007FY2011
Net income
$396 million
+6.3% on the year
FY2007FY2011
Diluted EPS
$0.99
+7.6% 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
2,444
1,985
1,724
+23.1%
Cost of revenue
621
475
416
+30.8%
Gross profit
1,823
1,511
1,308
+20.6%
Gross margin
74.6%
76.1%
75.8%
Selling, general and administrative
289
230
202
+25.7%
Operating income
920
784
672
+17.3%
Operating margin
37.7%
39.5%
39.0%
Interest expense
312
246
250
+26.8%
Pre-tax income
507
556
421
-8.8%
Income tax
125
182
183
-31.5%
Effective tax rate
24.7%
32.8%
43.3%
Net income
396
373
247
+6.3%
Net margin
16.2%
18.8%
14.3%
Diluted EPS
$0.99
$0.92
$0.61
+7.6%
$ 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
1,166
1,021
842
+14.2%
Capital expenditure
523
347
250
+50.9%
Free cash flow
643
674
592
-4.7%
Free cash flow margin
26.3%
34.0%
34.3%
Cash from investing
-2,791
-1,301
-543
Cash from financing
1,086
910
-195
+19.3%
Depreciation and amortisation
556
461
415
+20.6%
Share-based compensation
47.4
52.6
60.7
-9.7%
Buybacks
437
431
213
+1.6%
Dividends paid
138
0.0
0.0
Dividend per share
$0.35
$0.00
n/a
Diluted shares, weighted
400m
404m
407m
-1.0%
Shares outstanding at period end
394m
399m
402m
-1.3%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
3,287
3,501
3,315
-6.1%
Non-controlling interest
123
3.1
3.0
+3,847.4%
Debt
7,236
5,587
4,212
+29.5%
Other liabilities
1,586
1,276
983
+24.3%
Total liabilities and equity
12,232
10,368
8,513
+18.0%
Fixed assets
4,982
3,683
3,176
+35.2%
Goodwill
2,676
2,512
2,251
+6.5%
Intangible assets
2,495
1,886
1,595
+32.3%
Investments
22.3
46.4
9.8
-52.0%
Cash and equivalents
330
884
247
-62.6%
Receivables
101
81.5
67.9
+23.5%
Other assets
1,626
1,275
1,167
+27.6%
Total assets
12,232
10,368
8,513
+18.0%
10-K for the year ended 31 December 2011, filed 29 February 2012: the filing.