Quest Diagnostics (DGX) FY2011 results: revenue $7.4 billion, up 1.8% on the year
Quest Diagnostics Inc. (DGX) reported revenue of $7.4 billion for fiscal 2011, the year ended 31 December 2011, up 1.8% on the year before. Net income was $471 million, down 34.7%, and diluted earnings per share $2.92. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2012.
Revenue
$7.4 billion
+1.8% on the year
FY2007FY2011
Operating margin
13.4%
17.7% a year earlier
FY2007FY2011
Net income
$471 million
-34.7% on the year
FY2007FY2011
Diluted EPS
$2.92
-27.9% on the year
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
7,392
7,260
7,455
+1.8%
Cost of revenue
4,363
4,276
4,321
+2.0%
Gross profit
3,029
2,985
3,134
+1.5%
Gross margin
41.0%
41.1%
42.0%
Selling, general and administrative
1,743
1,659
1,748
+5.1%
Operating income
987
1,284
1,359
-23.1%
Operating margin
13.4%
17.7%
18.2%
Interest expense
173
148
147
+17.5%
Pre-tax income
856
1,184
1,228
-27.7%
Income tax
355
430
460
-17.5%
Effective tax rate
41.5%
36.3%
37.5%
Net income
471
721
729
-34.7%
Net margin
6.4%
9.9%
9.8%
Diluted EPS
$2.92
$4.05
$3.87
-27.9%
$ 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
895
1,118
997
-19.9%
Capital expenditure
161
205
167
-21.6%
Free cash flow
734
913
830
-19.5%
Free cash flow margin
9.9%
12.6%
11.1%
Cash from investing
-1,243
-217
-196
Cash from financing
64.0
-986
-521
Depreciation and amortisation
281
254
257
+10.7%
Share-based compensation
71.9
53.9
75.1
+33.3%
Buybacks
935
750
500
+24.7%
Dividends paid
65.0
71.3
74.7
-8.9%
Dividend per share
$0.47
$0.40
$0.40
+17.5%
Diluted shares, weighted
160m
177m
188m
-9.7%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
3,693
4,033
3,990
-8.4%
Non-controlling interest
22.1
20.6
21.8
+7.2%
Debt
4,025
2,990
2,937
+34.6%
Other liabilities
1,573
1,483
1,615
+6.1%
Total liabilities and equity
9,313
8,528
8,564
+9.2%
Fixed assets
800
834
826
-4.1%
Goodwill
5,796
5,102
5,084
+13.6%
Intangible assets
1,036
796
824
+30.0%
Cash and equivalents
165
449
534
-63.3%
Receivables
906
845
827
+7.2%
Inventory
89.1
76.6
91.4
+16.4%
Other assets
522
424
377
+23.1%
Total assets
9,313
8,528
8,564
+9.2%
10-K for the year ended 31 December 2011, filed 16 February 2012: the filing.