Crown Castle (CCI) FY2012 results: revenue $2.4 billion, up 19.7% on the year
Crown Castle Inc. (CCI) reported revenue of $2.4 billion for fiscal 2012, the year ended 31 December 2012, up 19.7% on the year before. Net income was $189 million, up 10.2%, and diluted earnings per share $0.64. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2013.
Revenue
$2.4 billion
+19.7% on the year
FY2007FY2012
Operating margin
34.3%
34.1% a year earlier
FY2007FY2012
Net income
$189 million
+10.2% on the year
FY2007FY2012
Diluted EPS
$0.64
+23.1% on the year
FY2007FY2012
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
2,433
2,033
1,879
+19.7%
Cost of revenue
729
588
581
+23.9%
Gross profit
1,704
1,444
1,297
+18.0%
Gross margin
70.0%
71.1%
69.1%
Selling, general and administrative
213
173
165
+22.5%
Operating income
835
692
575
+20.6%
Operating margin
34.3%
34.1%
30.6%
Interest expense
65.2
71.7
405
-9.0%
Pre-tax income
101
180
-338
-43.9%
Income tax
-100
8.3
-26.8
Effective tax rate
-99.2%
4.6%
n/a
Net income
189
171
-311
+10.2%
Net margin
7.8%
8.4%
-16.6%
Diluted EPS
$0.64
$0.52
-$1.16
+23.1%
$ 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
773
643
603
+20.1%
Capital expenditure
441
348
228
+26.9%
Free cash flow
331
296
375
+12.1%
Free cash flow margin
13.6%
14.5%
20.0%
Cash from investing
-4,200
-400
-391
Cash from financing
3,787
-276
-867
Depreciation and amortisation
623
553
541
+12.6%
Share-based compensation
41.9
32.6
36.5
+28.6%
Buybacks
36.0
303
160
-88.1%
Dividends paid
0.0
n/a
n/a
Dividend per share
$0.00
n/a
n/a
Diluted shares, weighted
291m
286m
287m
+1.9%
Shares outstanding at period end
293m
284m
291m
+3.1%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,939
2,386
2,445
+23.2%
Non-controlling interest
12.5
0.6
-0.4
+1,922.3%
Redeemable equity
0.0
305
n/a
Debt
11,611
6,886
6,750
+68.6%
Other liabilities
1,526
968
1,274
+57.7%
Total liabilities and equity
16,089
10,545
10,470
+52.6%
Fixed assets
6,918
4,861
4,894
+42.3%
Goodwill
3,120
2,035
2,029
+53.3%
Intangible assets
2,942
2,178
2,314
+35.1%
Cash and equivalents
441
80.1
113
+450.9%
Receivables
193
77.3
59.9
+149.6%
Other assets
2,475
1,313
1,060
+88.5%
Total assets
16,089
10,545
10,470
+52.6%
10-K for the year ended 31 December 2012, filed 12 February 2013: the filing.