General Dynamics (GD) FY2012 results: revenue $31.0 billion, down 5.2% on the year
General Dynamics Corp. (GD) reported revenue of $31.0 billion for fiscal 2012, the year ended 31 December 2012, down 5.2% on the year before. Net income was -$332 million, and diluted earnings per share $-0.94. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2013.
Revenue
$31.0 billion
-5.2% on the year
FY2007FY2012
Operating margin
2.5%
11.7% a year earlier
FY2007FY2012
Net income
-$332 million
FY2007FY2012
Diluted EPS
-$0.94
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
30,992
32,677
32,466
-5.2%
Cost of revenue
28,404
26,821
26,557
+5.9%
Gross profit
n/a
5,856
5,909
Gross margin
n/a
17.9%
18.2%
Research and development
1,607
1,539
1,204
+4.4%
Operating income
765
3,826
3,945
-80.0%
Operating margin
2.5%
11.7%
12.2%
Interest expense
168
155
167
+8.4%
Pre-tax income
473
3,718
3,790
-87.3%
Income tax
854
1,166
1,162
-26.8%
Effective tax rate
180.5%
31.4%
30.7%
Net income
-332
2,526
2,624
Net margin
-1.1%
7.7%
8.1%
Diluted EPS
-$0.94
$6.87
$6.81
$ 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
2,606
3,238
2,986
-19.5%
Capital expenditure
436
458
370
-4.8%
Free cash flow
2,170
2,780
2,616
-21.9%
Free cash flow margin
7.0%
8.5%
8.1%
Cash from investing
-642
-1,974
-408
Cash from financing
-1,382
-1,201
-2,226
Depreciation and amortisation
590
592
569
-0.3%
Share-based compensation
114
128
118
-10.9%
Buybacks
602
1,468
1,185
-59.0%
Dividends paid
893
673
631
+32.7%
Diluted shares, weighted
353m
368m
385m
-3.9%
Shares outstanding at period end
354m
356m
372m
-0.8%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
11,390
13,232
13,316
-13.9%
Debt
3,909
3,930
3,203
-0.5%
Other liabilities
19,010
17,721
16,026
+7.3%
Total liabilities and equity
34,309
34,883
32,545
-1.6%
Fixed assets
3,403
3,284
2,971
+3.6%
Goodwill
12,003
13,576
12,649
-11.6%
Intangible assets
1,383
1,813
1,992
-23.7%
Cash and equivalents
3,296
2,649
2,613
+24.4%
Receivables
4,204
4,429
3,848
-5.1%
Inventory
2,776
2,310
2,158
+20.2%
Other assets
7,244
6,822
6,314
+6.2%
Total assets
34,309
34,883
32,545
-1.6%
10-K for the year ended 31 December 2012, filed 8 February 2013: the filing.