Callaway Golf (CALY) FY2012 results: revenue $834 million, down 5.9% on the year
Callaway Golf Co. (CALY) reported revenue of $834 million for fiscal 2012, the year ended 31 December 2012, down 5.9% on the year before. Net income was -$123 million, and diluted earnings per share $-1.96. The figures are the company's own, from the 10-K it filed with the SEC on 8 March 2013.
Revenue
$834 million
-5.9% on the year
FY2009FY2012
Operating margin
-13.9%
-9.1% a year earlier
FY2009FY2012
Net income
-$123 million
FY2009FY2012
Diluted EPS
-$1.96
FY2009FY2012
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
834
887
968
-5.9%
Cost of revenue
586
575
602
+1.9%
Gross profit
248
311
365
-20.3%
Gross margin
29.8%
35.1%
37.8%
Research and development
29.5
34.3
36.4
-13.9%
Operating income
-116
-81.1
-26.6
Operating margin
-13.9%
-9.1%
-2.7%
Interest expense
5.5
1.6
0.8
+240.7%
Pre-tax income
-118
-90.3
-35.6
Income tax
4.9
81.6
-16.8
-94.0%
Net income
-123
-172
-18.8
Net margin
-14.7%
-19.4%
-1.9%
Diluted EPS
-$1.96
-$2.82
-$0.46
$ 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
-28.8
10.1
9.6
Capital expenditure
18.4
28.9
22.2
-36.4%
Free cash flow
-47.2
-18.8
-12.6
Free cash flow margin
-5.7%
-2.1%
-1.3%
Cash from investing
5.5
-9.6
-24.8
Cash from financing
32.1
-13.3
-10.8
Depreciation and amortisation
34.4
38.6
40.9
-10.9%
Share-based compensation
3.1
9.6
9.6
-67.2%
Dividends paid
11.0
13.1
13.1
-15.8%
Dividend per share
$0.04
n/a
n/a
Diluted shares, weighted
67m
65m
64m
+3.8%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
319
510
684
-37.4%
Non-controlling interest
2.7
2.9
2.6
-4.9%
Debt
107
0.0
0.0
Other liabilities
209
214
189
-2.6%
Total liabilities and equity
638
727
876
-12.3%
Fixed assets
89.1
117
130
-23.9%
Goodwill
29.0
29.2
30.6
-0.6%
Intangible assets
89.2
122
131
-26.9%
Cash and equivalents
52.0
43.0
55.0
+20.9%
Receivables
91.1
116
145
-21.3%
Inventory
212
233
269
-9.2%
Other assets
75.5
67.1
116
+12.6%
Total assets
638
727
876
-12.3%
10-K for the year ended 31 December 2012, filed 8 March 2013: the filing.