Expeditors International of Washington (EXPD) FY2012 results: revenue $6.0 billion, down 2.8% on the year
Expeditors International of Washington Inc. (EXPD) reported revenue of $6.0 billion for fiscal 2012, the year ended 31 December 2012, down 2.8% on the year before. Net income was $333 million, down 13.6%, and diluted earnings per share $1.57. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2013.
Revenue
$6.0 billion
-2.8% on the year
FY2007FY2012
Operating margin
8.9%
10.1% a year earlier
FY2007FY2012
Net income
$333 million
-13.6% on the year
FY2007FY2012
Diluted EPS
$1.57
-12.3% on the year
FY2007FY2012
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
5,981
6,150
5,968
-2.8%
Gross profit
1,824
1,896
1,693
-3.8%
Gross margin
30.5%
30.8%
28.4%
Operating income
531
618
547
-14.2%
Operating margin
8.9%
10.1%
9.2%
Interest expense
1.3
1.0
0.6
+29.0%
Pre-tax income
550
638
564
-13.7%
Income tax
217
252
220
-13.6%
Effective tax rate
39.5%
39.5%
39.0%
Net income
333
386
344
-13.6%
Net margin
5.6%
6.3%
5.8%
Diluted EPS
$1.57
$1.79
$1.59
-12.3%
$ 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
370
457
396
-19.0%
Capital expenditure
47.6
78.1
42.4
-39.0%
Free cash flow
322
379
353
-14.9%
Free cash flow margin
5.4%
6.2%
5.9%
Cash from investing
-47.0
-80.3
-42.2
Cash from financing
-363
-157
-209
Depreciation and amortisation
39.9
36.8
36.9
+8.6%
Share-based compensation
44.1
44.3
43.7
-0.5%
Buybacks
302
112
246
+169.8%
Dividends paid
117
106
84.9
+10.6%
Dividend per share
$0.56
$0.50
$0.40
+12.0%
Diluted shares, weighted
212m
215m
216m
-1.4%
Shares outstanding at period end
206m
212m
212m
-2.6%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,028
2,004
1,741
+1.2%
Non-controlling interest
4.9
6.4
7.2
-24.3%
Debt
0.0
0.0
0.0
Other liabilities
922
857
931
+7.6%
Total liabilities and equity
2,954
2,867
2,679
+3.0%
Fixed assets
556
539
499
+3.2%
Goodwill
7.9
7.9
7.9
0.0%
Intangible assets
n/a
2.6
3.7
Investments
0.1
0.5
0.5
-70.6%
Cash and equivalents
1,261
1,294
1,084
-2.6%
Receivables
1,031
935
1,004
+10.3%
Other assets
97.6
87.9
80.0
+11.1%
Total assets
2,954
2,867
2,679
+3.0%
10-K for the year ended 31 December 2012, filed 27 February 2013: the filing.