Avery Dennison (AVY) FY2012 results: revenue $5.9 billion, up 0.3% on the year
Avery Dennison Corp. (AVY) reported revenue of $5.9 billion for fiscal 2012, the year ended 29 December 2012, up 0.3% on the year before. Net income was $215 million, up 13.3%, and diluted earnings per share $2.08. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2013.
Revenue
$5.9 billion
+0.3% on the year
FY2008FY2012
Operating margin
n/a
FY2008FY2012
Net income
$215 million
+13.3% on the year
FY2008FY2012
Diluted EPS
$2.08
+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
5,864
5,845
5,782
+0.3%
Cost of revenue
4,335
4,370
4,268
-0.8%
Gross profit
1,528
1,475
1,514
+3.6%
Gross margin
26.1%
25.2%
26.2%
Research and development
98.6
93.8
88.4
+5.1%
Selling, general and administrative
1,149
1,139
1,179
+0.8%
Interest expense
72.8
71.0
76.3
+2.5%
Pre-tax income
238
213
239
+11.4%
Income tax
80.0
71.5
-2.8
+11.9%
Effective tax rate
33.7%
33.5%
-1.2%
Net income
215
190
317
+13.3%
Net margin
3.7%
3.3%
5.5%
Diluted EPS
$2.08
$1.78
$2.97
+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
513
423
487
+21.5%
Capital expenditure
99.2
110
83.5
-9.5%
Free cash flow
414
313
403
+32.3%
Free cash flow margin
7.1%
5.4%
7.0%
Cash from investing
-160
-104
-108
Cash from financing
-298
-272
-392
Depreciation and amortisation
211
220
n/a
-4.1%
Share-based compensation
38.9
39.6
35.2
-1.8%
Buybacks
235
13.5
109
+1,642.2%
Dividends paid
110
106
88.7
+3.7%
Dividend per share
$1.08
$1.00
$0.80
+8.0%
Diluted shares, weighted
104m
107m
107m
-3.1%
Shares outstanding at period end
100m
106m
105m
-6.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,537
1,658
1,646
-7.4%
Debt
1,222
1,181
1,337
+3.5%
Other liabilities
2,346
2,133
2,116
+10.0%
Total liabilities and equity
5,105
4,973
5,099
+2.7%
Fixed assets
1,016
1,079
1,263
-5.9%
Goodwill
764
759
941
+0.7%
Intangible assets
125
161
229
-22.5%
Cash and equivalents
235
178
128
+32.2%
Receivables
973
877
996
+10.9%
Inventory
473
475
520
-0.4%
Other assets
1,519
1,443
1,023
+5.3%
Total assets
5,105
4,973
5,099
+2.7%
10-K for the year ended 29 December 2012, filed 27 February 2013: the filing.