Haemonetics (HAE) FY2012 results: revenue $728 million, up 7.6% on the year
Haemonetics Corp. (HAE) reported revenue of $728 million for fiscal 2012, the year ended 31 March 2012, up 7.6% on the year before. Net income was $67 million, down 16.4%, and diluted earnings per share $1.29. The figures are the company's own, from the 10-K it filed with the SEC on 22 May 2012.
Revenue
$728 million
+7.6% on the year
FY2009FY2012
Operating margin
12.2%
16.3% a year earlier
FY2009FY2012
Net income
$67 million
-16.4% on the year
FY2009FY2012
Diluted EPS
$1.29
-17.0% on the year
FY2009FY2012
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
728
677
645
+7.6%
Cost of revenue
359
321
308
+11.5%
Gross profit
369
355
337
+4.0%
Gross margin
50.7%
52.5%
52.3%
Research and development
36.8
32.7
26.4
+12.7%
Selling, general and administrative
244
214
214
+13.9%
Operating income
88.8
111
83.3
-19.7%
Operating margin
12.2%
16.3%
12.9%
Interest expense
n/a
0.0
0.7
Pre-tax income
89.5
110
81.3
-18.7%
Income tax
22.6
30.1
22.9
-24.9%
Effective tax rate
25.3%
27.3%
28.2%
Net income
66.9
80.0
58.4
-16.4%
Net margin
9.2%
11.8%
9.0%
Diluted EPS
$1.29
$1.56
$1.12
-17.0%
$ 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
115
123
131
-6.6%
Capital expenditure
53.2
46.7
56.3
+14.0%
Free cash flow
62.1
76.8
74.4
-19.1%
Free cash flow margin
8.5%
11.3%
11.5%
Cash from investing
-52.2
-51.6
-132
Cash from financing
-30.5
-18.1
-14.0
Depreciation and amortisation
50.0
48.1
43.2
+3.8%
Share-based compensation
9.3
10.8
10.3
-14.1%
Buybacks
50.0
50.0
40.0
-0.0%
Diluted shares, weighted
52m
51m
52m
+0.8%
Shares outstanding at period end
51m
51m
51m
-1.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
733
686
593
+6.8%
Debt
3.8
4.9
20.5
-22.7%
Other liabilities
175
142
151
+22.8%
Total liabilities and equity
911
833
764
+9.3%
Fixed assets
162
156
154
+3.9%
Goodwill
115
115
110
-0.3%
Intangible assets
96.5
102
100
-5.1%
Cash and equivalents
229
197
142
+16.3%
Receivables
135
127
119
+6.5%
Inventory
117
84.4
80.0
+38.8%
Other assets
56.4
52.3
59.7
+7.8%
Total assets
911
833
764
+9.3%
10-K for the year ended 31 March 2012, filed 22 May 2012: the filing.