Andersons (ANDE) FY2012 results: revenue $5.3 billion, up 15.2% on the year
Andersons, Inc. (ANDE) reported revenue of $5.3 billion for fiscal 2012, the year ended 31 December 2012, up 15.2% on the year before. Net income was $79 million, down 16.4%, and diluted earnings per share $2.82. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2013.
Revenue
$5.3 billion
+15.2% on the year
FY2008FY2012
Operating margin
2.1%
2.7% a year earlier
FY2008FY2012
Net income
$79 million
-16.4% on the year
FY2008FY2012
Diluted EPS
$2.82
-16.9% on the year
FY2008FY2012
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
5,272
4,576
3,394
+15.2%
Cost of revenue
4,914
4,223
3,112
+16.3%
Gross profit
358
353
282
+1.5%
Gross margin
6.8%
7.7%
8.3%
Research and development
1.0
0.8
1.8
+25.0%
Operating income
111
124
86.3
-10.3%
Operating margin
2.1%
2.7%
2.5%
Interest expense
n/a
n/a
19.9
Pre-tax income
120
148
104
-18.8%
Income tax
44.6
51.1
39.3
-12.7%
Effective tax rate
37.1%
34.5%
37.7%
Net income
79.5
95.1
64.7
-16.4%
Net margin
1.5%
2.1%
1.9%
Diluted EPS
$2.82
$3.39
$2.32
-16.9%
$ 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
328
290
-239
+13.2%
Capital expenditure
69.3
44.2
30.9
+56.9%
Free cash flow
259
246
-270
+5.3%
Free cash flow margin
4.9%
5.4%
-8.0%
Cash from investing
-291
-86.0
-89.0
Cash from financing
79.9
-213
212
Depreciation and amortisation
49.0
40.8
38.9
+19.9%
Share-based compensation
4.0
4.1
2.6
-2.0%
Buybacks
0.0
3.0
0.0
Dividends paid
11.2
8.2
6.6
+37.0%
Dividend per share
$0.40
$0.32
$0.24
+24.7%
Diluted shares, weighted
28m
28m
28m
+0.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
594
524
451
+13.4%
Non-controlling interest
17.0
14.8
13.1
+14.7%
Debt
467
343
301
+36.2%
Other liabilities
1,104
853
933
+29.5%
Total liabilities and equity
2,182
1,734
1,699
+25.8%
Fixed assets
359
175
151
+105.0%
Goodwill
54.4
12.5
10.1
+333.5%
Intangible assets
26.1
10.1
12.0
+157.6%
Cash and equivalents
138
20.4
29.2
+577.9%
Inventory
777
760
647
+2.1%
Other assets
828
756
850
+9.6%
Total assets
2,182
1,734
1,699
+25.8%
10-K for the year ended 31 December 2012, filed 1 March 2013: the filing.