Brinks (BCO) FY2011 results: revenue $3.7 billion, up 23.1% on the year
Brinks Co. (BCO) reported revenue of $3.7 billion for fiscal 2011, the year ended 31 December 2011, up 23.1% on the year before. Net income was $74 million, up 30.5%, and diluted earnings per share $1.55. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2012.
Revenue
$3.7 billion
+23.1% on the year
FY2008FY2011
Operating margin
5.5%
5.9% a year earlier
FY2008FY2011
Net income
$74 million
+30.5% on the year
FY2008FY2011
Diluted EPS
$1.55
+31.4% on the year
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
3,663
2,976
3,135
+23.1%
Cost of revenue
2,966
2,392
2,534
+24.0%
Gross profit
697
584
600
+19.3%
Gross margin
19.0%
19.6%
19.2%
Operating income
202
176
167
+14.7%
Operating margin
5.5%
5.9%
5.3%
Interest expense
23.1
14.6
11.3
+58.2%
Pre-tax income
188
170
166
+10.8%
Income tax
64.0
72.6
-61.1
-11.8%
Effective tax rate
34.0%
42.7%
-36.7%
Net income
74.5
57.1
200
+30.5%
Net margin
2.0%
1.9%
6.4%
Diluted EPS
$1.55
$1.18
$4.21
+31.4%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
247
235
195
+5.0%
Capital expenditure
184
138
171
+33.3%
Free cash flow
63.3
97.5
24.6
-35.1%
Free cash flow margin
1.7%
3.3%
0.8%
Cash from investing
-172
-255
-241
Cash from financing
-67.2
60.0
-46.6
Depreciation and amortisation
148
127
135
+17.0%
Share-based compensation
6.2
6.2
6.6
0.0%
Buybacks
0.0
33.7
6.9
Dividends paid
18.7
18.9
18.4
-1.1%
Dividend per share
$0.40
$0.40
$0.40
0.0%
Diluted shares, weighted
48m
48m
48m
-0.6%
Shares outstanding at period end
47m
46m
48m
+1.1%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
408
516
535
-21.0%
Non-controlling interest
74.4
66.9
60.9
+11.2%
Short-term borrowings
n/a
36.5
7.2
Debt
389
353
188
+10.4%
Other liabilities
1,534
1,298
1,088
+18.2%
Total liabilities and equity
2,406
2,270
1,880
+6.0%
Fixed assets
749
699
550
+7.2%
Goodwill
231
244
214
-5.3%
Intangible assets
63.8
83.2
69.4
-23.3%
Cash and equivalents
183
183
143
-0.1%
Receivables
550
525
428
+4.8%
Other assets
628
536
477
+17.2%
Total assets
2,406
2,270
1,880
+6.0%
10-K for the year ended 31 December 2011, filed 28 February 2012: the filing.