Flowers Foods (FLO) FY2012 results: revenue $3.0 billion, up 9.3% on the year
Flowers Foods Inc. (FLO) reported revenue of $3.0 billion for fiscal 2012, the year ended 29 December 2012, up 9.3% on the year before. Net income was $136 million, up 10.3%, and diluted earnings per share $0.65. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2013.
Revenue
$3.0 billion
+9.3% on the year
FY2008FY2012
Operating margin
7.2%
6.8% a year earlier
FY2008FY2012
Net income
$136 million
+10.3% on the year
FY2008FY2012
Diluted EPS
$0.65
+8.9% 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
3,031
2,773
2,574
+9.3%
Cost of revenue
n/a
n/a
1,347
Gross profit
n/a
n/a
1,227
Gross margin
n/a
n/a
47.7%
Selling, general and administrative
1,092
1,016
936
+7.4%
Operating income
219
189
206
+15.6%
Operating margin
7.2%
6.8%
8.0%
Interest expense
23.4
10.2
8.2
+130.2%
Pre-tax income
209
192
210
+8.8%
Income tax
72.7
68.5
73.3
+6.0%
Effective tax rate
34.8%
35.7%
34.9%
Net income
136
123
137
+10.3%
Net margin
4.5%
4.5%
5.3%
Diluted EPS
$0.65
$0.60
$0.66
+8.9%
$ 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
217
134
306
+61.5%
Capital expenditure
67.3
79.2
98.4
-15.0%
Free cash flow
150
55.1
208
+171.4%
Free cash flow margin
4.9%
2.0%
8.1%
Cash from investing
-385
-238
-104
Cash from financing
174
105
-214
+66.3%
Depreciation and amortisation
103
94.6
85.1
+8.5%
Share-based compensation
10.1
13.6
13.7
-25.8%
Buybacks
18.7
26.6
39.2
-29.6%
Dividends paid
86.5
79.1
70.9
+9.4%
Dividend per share
$0.42
$0.39
$0.34
+8.1%
Diluted shares, weighted
208m
205m
207m
+1.1%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
859
759
796
+13.1%
Non-controlling interest
n/a
n/a
0.0
Debt
610
326
127
+87.0%
Other liabilities
527
469
402
+12.4%
Total liabilities and equity
1,996
1,554
1,325
+28.4%
Fixed assets
726
685
605
+5.9%
Goodwill
270
220
200
+22.8%
Intangible assets
388
141
97.0
+175.0%
Cash and equivalents
13.3
7.8
6.8
+70.6%
Inventory
91.0
74.1
60.6
+22.8%
Other assets
507
426
356
+19.2%
Total assets
1,996
1,554
1,325
+28.4%
10-K for the year ended 29 December 2012, filed 20 February 2013: the filing.