American Tower (AMT) FY2012 results: revenue $2.9 billion, up 17.7% on the year
American Tower Corp. (AMT) reported revenue of $2.9 billion for fiscal 2012, the year ended 31 December 2012, up 17.7% on the year before. Net income was $637 million, up 60.7%, and diluted earnings per share $1.60. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2013.
Revenue
$2.9 billion
+17.7% on the year
FY2007FY2012
Operating margin
38.9%
37.7% a year earlier
FY2007FY2012
Net income
$637 million
+60.7% on the year
FY2007FY2012
Diluted EPS
$1.60
+61.6% 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
2,876
2,444
1,985
+17.7%
Cost of revenue
722
621
475
+16.3%
Gross profit
2,153
1,823
1,511
+18.2%
Gross margin
74.9%
74.6%
76.1%
Selling, general and administrative
327
289
230
+13.3%
Operating income
1,120
920
784
+21.7%
Operating margin
38.9%
37.7%
39.5%
Interest expense
402
312
246
+28.8%
Pre-tax income
701
507
556
+38.4%
Income tax
107
125
182
-14.2%
Effective tax rate
15.3%
24.7%
32.8%
Net income
637
396
373
+60.7%
Net margin
22.2%
16.2%
18.8%
Diluted EPS
$1.60
$0.99
$0.92
+61.6%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,414
1,166
1,021
+21.3%
Capital expenditure
568
523
347
+8.6%
Free cash flow
846
643
674
+31.6%
Free cash flow margin
29.4%
26.3%
34.0%
Cash from investing
-2,558
-2,791
-1,301
Cash from financing
1,170
1,086
910
+7.8%
Depreciation and amortisation
644
556
461
+16.0%
Share-based compensation
52.0
47.4
52.6
+9.6%
Buybacks
62.7
437
431
-85.7%
Dividends paid
356
138
0.0
+158.1%
Dividend per share
$0.90
$0.35
$0.00
+157.1%
Diluted shares, weighted
399m
400m
404m
-0.2%
Shares outstanding at period end
395m
394m
399m
+0.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
3,573
3,287
3,501
+8.7%
Non-controlling interest
111
123
3.1
-9.6%
Debt
8,800
7,236
5,587
+21.6%
Other liabilities
1,605
1,586
1,276
+1.2%
Total liabilities and equity
14,089
12,232
10,368
+15.2%
Fixed assets
5,766
4,982
3,683
+15.7%
Goodwill
2,843
2,676
2,512
+6.2%
Intangible assets
3,206
2,495
1,886
+28.5%
Investments
6.0
22.3
46.4
-73.0%
Cash and equivalents
369
330
884
+11.6%
Receivables
144
101
81.5
+42.7%
Other assets
1,756
1,626
1,275
+8.0%
Total assets
14,089
12,232
10,368
+15.2%
10-K for the year ended 31 December 2012, filed 27 February 2013: the filing.