Arrow Electronics (ARW) FY2012 results: revenue $20.4 billion, down 4.6% on the year
Arrow Electronics, Inc. (ARW) reported revenue of $20.4 billion for fiscal 2012, the year ended 31 December 2012, down 4.6% on the year before. Net income was $506 million, down 15.4%, and diluted earnings per share $4.56. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2013.
Revenue
$20.4 billion
-4.6% on the year
FY2008FY2012
Operating margin
3.9%
4.2% a year earlier
FY2008FY2012
Net income
$506 million
-15.4% on the year
FY2008FY2012
Diluted EPS
$4.56
-11.8% 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
20,405
21,390
18,745
-4.6%
Cost of revenue
17,668
18,442
16,326
-4.2%
Gross profit
2,737
2,949
2,419
-7.2%
Gross margin
13.4%
13.8%
12.9%
Selling, general and administrative
1,850
1,893
1,557
-2.3%
Operating income
804
909
751
-11.5%
Operating margin
3.9%
4.2%
4.0%
Income tax
204
210
199
-3.3%
Net income
506
599
480
-15.4%
Net margin
2.5%
2.8%
2.6%
Diluted EPS
$4.56
$5.17
$4.01
-11.8%
$ 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
675
121
221
+458.4%
Capital expenditure
112
114
112
-1.5%
Free cash flow
563
6.9
109
+8,007.3%
Free cash flow margin
2.8%
0.0%
0.6%
Cash from investing
-409
-647
-682
Cash from financing
-258
-13.9
271
Depreciation and amortisation
115
103
77.4
+11.5%
Share-based compensation
34.5
39.2
34.6
-11.9%
Buybacks
261
197
174
+32.4%
Diluted shares, weighted
111m
116m
120m
-4.2%
Shares outstanding at period end
n/a
112m
115m
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
3,983
3,669
3,251
+8.6%
Non-controlling interest
4.1
6.4
0.0
-35.8%
Debt
1,952
1,962
1,822
-0.5%
Other liabilities
4,846
4,192
4,527
+15.6%
Total liabilities and equity
10,786
9,829
9,601
+9.7%
Fixed assets
600
556
506
+7.8%
Goodwill
1,712
1,473
1,336
+16.2%
Intangible assets
414
393
311
+5.4%
Cash and equivalents
410
397
926
+3.2%
Receivables
4,924
4,482
4,103
+9.9%
Inventory
2,053
1,964
1,909
+4.5%
Other assets
674
564
510
+19.5%
Total assets
10,786
9,829
9,601
+9.7%
10-K for the year ended 31 December 2012, filed 7 February 2013: the filing.