Avista (AVA) FY2012 results: revenue $1.4 billion, down 14.1% on the year
Avista Corp. (AVA) reported revenue of $1.4 billion for fiscal 2012, the year ended 31 December 2012, down 14.1% on the year before. Net income was $78 million, down 22.0%, and diluted earnings per share $1.32. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2013.
Revenue
$1.4 billion
-14.1% on the year
FY2008FY2012
Operating margin
13.4%
14.1% a year earlier
FY2008FY2012
Net income
$78 million
-22.0% on the year
FY2008FY2012
Diluted EPS
$1.32
-23.3% 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
1,391
1,620
1,559
-14.1%
Operating income
187
228
220
-17.9%
Operating margin
13.4%
14.1%
14.1%
Interest expense
75.1
73.9
75.8
+1.7%
Pre-tax income
117
160
146
-27.2%
Income tax
39.8
56.6
51.2
-29.8%
Effective tax rate
34.1%
35.4%
35.0%
Net income
78.2
100
92.4
-22.0%
Net margin
5.6%
6.2%
5.9%
Diluted EPS
$1.32
$1.72
$1.65
-23.3%
$ 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
317
269
228
+17.5%
Capital expenditure
271
240
202
+13.1%
Free cash flow
45.4
29.7
26.2
+52.8%
Free cash flow margin
3.3%
1.8%
1.7%
Cash from investing
-295
-282
-253
Cash from financing
-21.1
18.1
57.2
Depreciation and amortisation
126
114
108
+11.3%
Share-based compensation
5.8
5.8
4.9
+0.6%
Buybacks
0.0
n/a
n/a
Dividends paid
68.6
63.7
55.7
+7.6%
Dividend per share
$1.16
$1.10
$1.00
+5.5%
Diluted shares, weighted
59m
58m
56m
+1.9%
Shares outstanding at period end
60m
58m
57m
+2.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,277
1,186
1,126
+7.7%
Non-controlling interest
17.7
0.2
-0.6
+10,048.3%
Redeemable equity
4.9
51.8
46.7
-90.5%
Debt
1,419
1,371
1,322
+3.5%
Other liabilities
1,594
1,605
1,446
-0.7%
Total liabilities and equity
4,313
4,215
3,940
+2.3%
Goodwill
76.0
39.0
25.9
+94.5%
Intangible assets
46.3
34.6
20.1
+33.6%
Cash and equivalents
75.5
74.7
69.4
+1.1%
Inventory
47.5
52.0
48.5
-8.8%
Other assets
4,068
4,014
3,776
+1.3%
Total assets
4,313
4,215
3,940
+2.3%
10-K for the year ended 31 December 2012, filed 26 February 2013: the filing.