Federal Realty Investment Trust (FRT) FY2012 results: revenue $606 million, up 9.9% on the year
Federal Realty Investment Trust (FRT) reported revenue of $606 million for fiscal 2012, the year ended 31 December 2012, up 9.9% on the year before. Net income was $152 million, up 5.6%, and diluted earnings per share $2.35. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2013.
Revenue
$606 million
+9.9% on the year
FY2008FY2012
Operating margin
41.9%
41.1% a year earlier
FY2008FY2012
Net income
$152 million
+5.6% on the year
FY2008FY2012
Diluted EPS
$2.35
+3.1% 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
606
551
542
+9.9%
Operating income
254
226
229
+12.1%
Operating margin
41.9%
41.1%
42.3%
Interest expense
113
98.5
102
+15.1%
Net income
152
144
123
+5.6%
Net margin
25.1%
26.1%
22.7%
Diluted EPS
$2.35
$2.28
$1.98
+3.1%
$ 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
297
245
257
+21.2%
Capital expenditure
51.3
50.5
38.7
+1.6%
Free cash flow
245
194
218
+26.3%
Free cash flow margin
40.5%
35.2%
40.2%
Cash from investing
-274
-196
-187
Cash from financing
-53.9
3.7
-189
Depreciation and amortisation
142
126
119
+12.6%
Share-based compensation
9.5
7.6
5.7
+24.8%
Dividend per share
$2.84
n/a
n/a
Diluted shares, weighted
64m
63m
61m
+2.3%
Shares outstanding at period end
65m
64m
62m
+2.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,287
1,216
1,095
+5.8%
Non-controlling interest
23.8
24.5
21.0
-3.0%
Redeemable equity
94.4
85.3
65.4
+10.7%
Debt
2,127
2,037
1,707
+4.4%
Other liabilities
367
297
271
+23.5%
Total liabilities and equity
3,899
3,660
3,160
+6.5%
Cash and equivalents
37.0
67.8
15.8
-45.5%
Other assets
3,862
3,592
3,144
+7.5%
Total assets
3,899
3,660
3,160
+6.5%
10-K for the year ended 31 December 2012, filed 12 February 2013: the filing.