Crown Castle (CCI) FY2011 results: revenue $2.0 billion, up 8.2% on the year
Crown Castle Inc. (CCI) reported revenue of $2.0 billion for fiscal 2011, the year ended 31 December 2011, up 8.2% on the year before. Net income was $171 million, and diluted earnings per share $0.52. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2012.
Revenue
$2.0 billion
+8.2% on the year
FY2007FY2011
Operating margin
34.1%
30.6% a year earlier
FY2007FY2011
Net income
$171 million
FY2007FY2011
Diluted EPS
$0.52
FY2007FY2011
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
2,033
1,879
1,685
+8.2%
Cost of revenue
588
581
549
+1.2%
Gross profit
1,444
1,297
1,136
+11.3%
Gross margin
71.1%
69.1%
67.4%
Selling, general and administrative
173
165
153
+4.9%
Operating income
692
575
434
+20.3%
Operating margin
34.1%
30.6%
25.7%
Interest expense
71.7
405
446
-82.3%
Pre-tax income
180
-338
-191
Income tax
8.3
-26.8
-76.4
Effective tax rate
4.6%
n/a
n/a
Net income
171
-311
-114
Net margin
8.4%
-16.6%
-6.8%
Diluted EPS
$0.52
-$1.16
-$0.47
$ 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
643
603
571
+6.6%
Capital expenditure
348
228
174
+52.6%
Free cash flow
296
375
398
-21.3%
Free cash flow margin
14.5%
20.0%
23.6%
Cash from investing
-400
-391
-172
Cash from financing
-276
-867
214
Depreciation and amortisation
553
541
530
+2.3%
Share-based compensation
32.6
36.5
29.2
-10.8%
Buybacks
303
160
3.0
+90.1%
Diluted shares, weighted
286m
287m
287m
-0.3%
Shares outstanding at period end
284m
291m
293m
-2.2%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
2,386
2,445
2,936
-2.4%
Non-controlling interest
0.6
-0.4
-0.2
Redeemable equity
305
n/a
n/a
Debt
6,886
6,750
6,362
+2.0%
Other liabilities
968
1,274
1,659
-24.1%
Total liabilities and equity
10,545
10,470
10,957
+0.7%
Fixed assets
4,861
4,894
4,896
-0.7%
Goodwill
2,035
2,029
1,985
+0.3%
Intangible assets
2,178
2,314
2,405
-5.9%
Cash and equivalents
80.1
113
766
-28.8%
Receivables
77.3
59.9
44.4
+29.0%
Other assets
1,313
1,060
860
+23.8%
Total assets
10,545
10,470
10,957
+0.7%
10-K for the year ended 31 December 2011, filed 13 February 2012: the filing.