Crane Nxt (CXT) FY2011 results: revenue $2.5 billion, up 14.7% on the year
Crane Nxt, Co. (CXT) reported revenue of $2.5 billion for fiscal 2011, the year ended 31 December 2011, up 14.7% on the year before. Net income was $26 million, down 82.9%, and diluted earnings per share $0.44. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2012.
Revenue
$2.5 billion
+14.7% on the year
FY2008FY2011
Operating margin
1.5%
10.7% a year earlier
FY2008FY2011
Net income
$26 million
-82.9% on the year
FY2008FY2011
Diluted EPS
$0.44
-83.0% 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
2,500
2,179
2,196
+14.7%
Cost of revenue
1,653
1,437
1,466
+15.0%
Gross profit
847
742
730
+14.2%
Gross margin
33.9%
34.0%
33.3%
Research and development
64.2
65.9
98.7
-2.6%
Selling, general and administrative
539
502
517
+7.3%
Operating income
36.6
233
208
-84.3%
Operating margin
1.5%
10.7%
9.5%
Interest expense
26.3
26.8
27.1
-2.2%
Pre-tax income
14.8
209
185
-92.9%
Income tax
-8.1
56.1
50.8
Effective tax rate
-54.6%
26.8%
27.5%
Net income
26.3
154
134
-82.9%
Net margin
1.1%
7.1%
6.1%
Diluted EPS
$0.44
$2.59
$2.28
-83.0%
$ 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
150
134
189
+12.2%
Capital expenditure
34.7
21.0
28.3
+65.2%
Free cash flow
115
113
161
+2.3%
Free cash flow margin
4.6%
5.2%
7.3%
Cash from investing
-65.5
-157
-5.7
Cash from financing
-109
-77.4
-62.0
Depreciation and amortisation
62.9
59.8
58.2
+5.2%
Share-based compensation
15.0
13.3
9.2
+12.4%
Buybacks
80.0
50.0
n/a
+60.0%
Dividends paid
57.0
50.4
46.8
+13.1%
Diluted shares, weighted
59m
60m
59m
-0.6%
Shares outstanding at period end
58m
58m
59m
-0.9%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
814
985
886
-17.4%
Non-controlling interest
8.5
8.1
7.9
+5.2%
Short-term borrowings
n/a
1.0
1.1
Debt
400
399
399
+0.3%
Other liabilities
1,621
1,314
1,420
+23.4%
Total liabilities and equity
2,844
2,707
2,713
+5.1%
Fixed assets
284
281
285
+1.2%
Goodwill
821
810
762
+1.3%
Intangible assets
146
163
119
-10.1%
Cash and equivalents
245
245
373
0.0%
Receivables
349
302
282
+15.7%
Inventory
361
319
285
+13.0%
Other assets
637
587
607
+8.6%
Total assets
2,844
2,707
2,713
+5.1%
10-K for the year ended 31 December 2011, filed 27 February 2012: the filing.