Hasbro (HAS) FY2011 results: revenue $4.3 billion, up 7.1% on the year
Hasbro, Inc. (HAS) reported revenue of $4.3 billion for fiscal 2011, the year ended 25 December 2011, up 7.1% on the year before. Net income was $385 million, down 3.1%, and diluted earnings per share $2.82. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2012.
Revenue
$4.3 billion
+7.1% on the year
FY2008FY2011
Operating margin
13.9%
14.7% a year earlier
FY2008FY2011
Net income
$385 million
-3.1% on the year
FY2008FY2011
Diluted EPS
$2.82
+2.9% on the year
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
4,286
4,002
4,068
+7.1%
Cost of revenue
1,836
1,690
1,676
+8.7%
Gross profit
2,449
2,312
2,392
+5.9%
Gross margin
57.2%
57.8%
58.8%
Research and development
198
201
181
-1.8%
Selling, general and administrative
822
781
794
+5.2%
Operating income
594
588
589
+1.0%
Operating margin
13.9%
14.7%
14.5%
Interest expense
-89.0
-82.1
-61.6
Pre-tax income
486
508
530
-4.2%
Income tax
101
110
155
-8.1%
Effective tax rate
20.8%
21.7%
29.2%
Net income
385
398
375
-3.1%
Net margin
9.0%
9.9%
9.2%
Diluted EPS
$2.82
$2.74
$2.48
+2.9%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
396
368
266
+7.6%
Capital expenditure
99.4
113
104
-11.7%
Free cash flow
297
255
161
+16.2%
Free cash flow margin
6.9%
6.4%
4.0%
Cash from investing
-108
-104
-498
Cash from financing
-376
-171
237
Depreciation and amortisation
160
146
181
+9.7%
Share-based compensation
12.5
33.4
29.9
-62.7%
Buybacks
423
640
88.1
-33.9%
Dividends paid
154
133
111
+15.8%
Dividend per share
$1.20
$1.00
$0.80
+20.0%
Diluted shares, weighted
137m
146m
153m
-6.2%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
1,418
1,615
1,595
-12.3%
Short-term borrowings
n/a
n/a
14.1
Debt
1,581
1,412
1,132
+12.0%
Other liabilities
1,132
1,066
1,156
+6.2%
Total liabilities and equity
4,131
4,093
3,897
+0.9%
Fixed assets
218
234
221
-6.7%
Goodwill
475
475
476
-0.0%
Intangible assets
467
501
555
-6.7%
Cash and equivalents
642
728
636
-11.8%
Receivables
1,035
961
1,039
+7.6%
Inventory
334
364
208
-8.3%
Other assets
960
831
763
+15.6%
Total assets
4,131
4,093
3,897
+0.9%
10-K for the year ended 25 December 2011, filed 22 February 2012: the filing.