Flex (FLEX) FY2012 results: revenue $29.4 billion, up 3.3% on the year
Flex Ltd. (FLEX) reported revenue of $29.4 billion for fiscal 2012, the year ended 31 March 2012, up 3.3% on the year before. Net income was $489 million, down 18.0%, and diluted earnings per share $0.67. The figures are the company's own, from the 10-K it filed with the SEC on 29 May 2012.
Revenue
$29.4 billion
+3.3% on the year
FY2008FY2012
Operating margin
n/a
FY2008FY2012
Net income
$489 million
-18.0% on the year
FY2008FY2012
Diluted EPS
$0.67
-10.7% 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
29,388
28,443
24,010
+3.3%
Cost of revenue
27,870
27,095
22,801
+2.9%
Gross profit
1,517
1,585
1,212
-4.3%
Gross margin
5.2%
5.6%
5.0%
Research and development
78.9
46.5
13.3
+69.7%
Selling, general and administrative
878
802
755
+9.5%
Interest expense
67.8
88.7
158
-23.6%
Pre-tax income
575
634
-10.7
-9.4%
Income tax
54.0
22.0
-35.7
+144.7%
Effective tax rate
9.4%
3.5%
n/a
Net income
489
596
18.6
-18.0%
Net margin
1.7%
2.1%
0.1%
Diluted EPS
$0.67
$0.75
$0.02
-10.7%
$ 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
804
857
799
-6.2%
Capital expenditure
437
471
235
-7.1%
Free cash flow
367
387
564
-5.1%
Free cash flow margin
1.2%
1.4%
2.4%
Cash from investing
-481
-413
7.8
Cash from financing
-522
-642
-713
Depreciation and amortisation
522
472
708
+10.7%
Share-based compensation
48.5
55.2
56.5
-12.3%
Buybacks
510
400
0.0
+27.3%
Diluted shares, weighted
728m
790m
821m
-7.9%
Shares outstanding at period end
684m
757m
813m
-9.7%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,284
2,295
1,985
-0.5%
Debt
2,189
2,220
2,255
-1.4%
Other liabilities
6,561
7,119
6,403
-7.8%
Total liabilities and equity
11,034
11,633
10,643
-5.2%
Fixed assets
2,076
2,084
2,119
-0.4%
Goodwill
102
93.2
84.4
+9.1%
Intangible assets
58.3
120
170
-51.4%
Cash and equivalents
1,518
1,748
1,928
-13.2%
Receivables
2,594
2,572
2,439
+0.9%
Inventory
3,301
3,517
2,876
-6.1%
Other assets
1,384
1,499
1,027
-7.6%
Total assets
11,034
11,633
10,643
-5.2%
10-K for the year ended 31 March 2012, filed 29 May 2012: the filing.