Deluxe (DLX) FY2012 results: revenue $1.5 billion, up 6.9% on the year
Deluxe Corp. (DLX) reported revenue of $1.5 billion for fiscal 2012, the year ended 31 December 2012, up 6.9% on the year before. Net income was $170 million, up 17.9%, and diluted earnings per share $3.32. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2013.
Revenue
$1.5 billion
+6.9% on the year
FY2008FY2012
Operating margin
19.9%
19.1% a year earlier
FY2008FY2012
Net income
$170 million
+17.9% on the year
FY2008FY2012
Diluted EPS
$3.32
+18.6% on the year
FY2008FY2012
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
1,515
1,418
1,402
+6.9%
Cost of revenue
524
493
488
+6.3%
Gross profit
991
924
914
+7.2%
Gross margin
65.4%
65.2%
65.2%
Selling, general and administrative
680
640
624
+6.3%
Operating income
302
271
282
+11.4%
Operating margin
19.9%
19.1%
20.1%
Interest expense
46.8
47.8
44.2
-2.0%
Pre-tax income
251
216
236
+16.0%
Income tax
80.3
71.5
82.6
+12.3%
Effective tax rate
32.0%
33.1%
35.0%
Net income
170
145
153
+17.9%
Net margin
11.3%
10.2%
10.9%
Diluted EPS
$3.32
$2.80
$2.96
+18.6%
$ 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
244
235
213
+3.7%
Capital expenditure
35.2
35.5
43.9
-0.9%
Free cash flow
209
200
169
+4.5%
Free cash flow margin
13.8%
14.1%
12.0%
Depreciation and amortisation
65.7
73.3
73.9
-10.5%
Share-based compensation
7.3
5.7
6.2
+27.2%
Buybacks
27.2
23.6
3.0
+15.0%
Dividends paid
50.9
51.1
51.4
-0.4%
Dividend per share
$1.00
$1.00
$1.00
0.0%
Diluted shares, weighted
51m
51m
51m
-0.7%
Shares outstanding at period end
51m
51m
51m
-0.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
433
303
226
+43.0%
Debt
653
742
755
-12.0%
Other liabilities
327
344
327
-5.1%
Total liabilities and equity
1,412
1,389
1,309
+1.7%
Fixed assets
104
113
120
-8.1%
Goodwill
790
777
726
+1.6%
Intangible assets
151
157
155
-4.2%
Investments
46.9
45.1
37.4
+3.9%
Trading assets
2.2
n/a
n/a
Cash and equivalents
45.4
28.7
17.4
+58.4%
Receivables
70.4
69.0
66.5
+2.0%
Inventory
23.3
22.0
21.7
+5.7%
Other assets
180
176
164
+2.0%
Total assets
1,412
1,389
1,309
+1.7%
10-K for the year ended 31 December 2012, filed 22 February 2013: the filing.