Edwards Lifesciences (EW) FY2012 results: revenue $1.9 billion, up 13.2% on the year
Edwards Lifesciences Corp. (EW) reported revenue of $1.9 billion for fiscal 2012, the year ended 31 December 2012, up 13.2% on the year before. Net income was $292 million, up 23.2%, and diluted earnings per share $0.41. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2013.
Revenue
$1.9 billion
+13.2% on the year
FY2008FY2012
Operating margin
n/a
FY2008FY2012
Net income
$292 million
+23.2% on the year
FY2008FY2012
Diluted EPS
$0.41
+24.2% 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
1,900
1,679
1,447
+13.2%
Cost of revenue
491
490
408
+0.2%
Gross profit
1,409
1,189
1,039
+18.5%
Gross margin
74.2%
70.8%
71.8%
Research and development
291
246
204
+18.3%
Selling, general and administrative
697
642
550
+8.6%
Interest expense
4.4
3.1
2.4
+41.9%
Pre-tax income
388
284
268
+36.9%
Income tax
96.7
46.9
50.2
+106.2%
Effective tax rate
24.9%
16.5%
18.7%
Net income
292
237
218
+23.2%
Net margin
15.3%
14.1%
15.1%
Diluted EPS
$0.41
$0.33
$0.30
+24.2%
$ 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
n/a
n/a
251
Capital expenditure
109
76.6
61.8
+42.3%
Free cash flow
n/a
n/a
190
Free cash flow margin
n/a
n/a
13.1%
Cash from investing
n/a
n/a
-61.5
Cash from financing
n/a
n/a
-104
Depreciation and amortisation
53.7
58.0
56.5
-7.4%
Share-based compensation
42.1
35.0
29.3
+20.3%
Buybacks
344
303
200
+13.4%
Diluted shares, weighted
710m
716m
715m
-0.9%
Shares outstanding at period end
686m
685m
690m
+0.2%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,467
1,327
1,308
+10.5%
Debt
189
150
41.8
+25.9%
Other liabilities
565
503
417
+12.4%
Total liabilities and equity
2,222
1,980
1,767
+12.2%
Fixed assets
373
304
270
+22.7%
Goodwill
385
350
315
+10.0%
Intangible assets
67.0
66.9
67.1
+0.1%
Investments
21.1
21.8
25.0
-3.2%
Cash and equivalents
311
171
396
+81.6%
Receivables
321
284
277
+13.1%
Inventory
281
261
204
+7.5%
Other assets
462
521
213
-11.3%
Total assets
2,222
1,980
1,767
+12.2%
10-K for the year ended 31 December 2012, filed 28 February 2013: the filing.