Expeditors International of Washington (EXPD) FY2011 results: revenue $6.2 billion, up 3.1% on the year
Expeditors International of Washington Inc. (EXPD) reported revenue of $6.2 billion for fiscal 2011, the year ended 31 December 2011, up 3.1% on the year before. Net income was $386 million, up 12.1%, and diluted earnings per share $1.79. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2012.
Revenue
$6.2 billion
+3.1% on the year
FY2007FY2011
Operating margin
10.1%
9.2% a year earlier
FY2007FY2011
Net income
$386 million
+12.1% on the year
FY2007FY2011
Diluted EPS
$1.79
+12.6% 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
6,150
5,968
4,092
+3.1%
Gross profit
1,896
1,693
1,383
+12.0%
Gross margin
30.8%
28.4%
33.8%
Operating income
618
547
385
+13.0%
Operating margin
10.1%
9.2%
9.4%
Interest expense
1.0
0.6
0.5
+68.4%
Pre-tax income
638
564
403
+13.1%
Income tax
252
220
162
+14.5%
Effective tax rate
39.5%
39.0%
40.3%
Net income
386
344
240
+12.1%
Net margin
6.3%
5.8%
5.9%
Diluted EPS
$1.79
$1.59
$1.11
+12.6%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
457
396
331
+15.6%
Capital expenditure
78.1
42.4
34.7
+84.2%
Free cash flow
379
353
296
+7.3%
Free cash flow margin
6.2%
5.9%
7.2%
Cash from investing
-80.3
-42.2
-41.3
Cash from financing
-157
-209
-117
Depreciation and amortisation
36.8
36.9
40.0
-0.3%
Share-based compensation
44.3
43.7
39.1
+1.2%
Buybacks
112
246
84.5
-54.5%
Dividends paid
106
84.9
80.6
+24.9%
Dividend per share
$0.50
$0.40
$0.38
+25.0%
Diluted shares, weighted
215m
216m
217m
-0.7%
Shares outstanding at period end
212m
212m
212m
-0.0%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
2,004
1,741
1,553
+15.1%
Non-controlling interest
6.4
7.2
8.3
-11.3%
Debt
0.0
0.0
n/a
Other liabilities
857
931
762
-8.0%
Total liabilities and equity
2,867
2,679
2,324
+7.0%
Fixed assets
539
499
496
+8.1%
Goodwill
7.9
7.9
7.9
0.0%
Intangible assets
2.6
3.7
4.9
-29.2%
Investments
0.5
0.5
0.7
-9.9%
Cash and equivalents
1,294
1,084
926
+19.4%
Receivables
935
1,004
810
-6.9%
Other assets
87.9
80.0
78.2
+9.8%
Total assets
2,867
2,679
2,324
+7.0%
10-K for the year ended 31 December 2011, filed 28 February 2012: the filing.