Hawaiian Electric Industries (HE) FY2012 results: revenue $3.4 billion, up 4.1% on the year
Hawaiian Electric Industries Inc. (HE) reported revenue of $3.4 billion for fiscal 2012, the year ended 31 December 2012, up 4.1% on the year before. Net income was $139 million, up 0.3%, and diluted earnings per share $1.42. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2013.
Revenue
$3.4 billion
+4.1% on the year
FY2008FY2012
Operating margin
8.4%
8.9% a year earlier
FY2008FY2012
Net income
$139 million
+0.3% on the year
FY2008FY2012
Diluted EPS
$1.42
-1.4% 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
3,375
3,242
2,665
+4.1%
Operating income
284
290
256
-1.9%
Operating margin
8.4%
8.9%
9.6%
Interest expense
89.4
96.6
102
-7.4%
Pre-tax income
217
216
n/a
+0.6%
Income tax
76.9
75.9
67.8
+1.2%
Effective tax rate
35.4%
35.1%
n/a
Net income
139
138
114
+0.3%
Net margin
4.1%
4.3%
4.3%
Diluted EPS
$1.42
$1.44
$1.21
-1.4%
$ 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
n/a
250
341
Capital expenditure
371
235
182
+57.7%
Free cash flow
n/a
15.2
159
Free cash flow margin
n/a
0.5%
6.0%
Cash from investing
n/a
n/a
-279
Cash from financing
n/a
n/a
-235
Depreciation and amortisation
158
167
159
-5.4%
Share-based compensation
6.7
4.3
2.7
+55.8%
Dividends paid
96.2
107
93.0
-9.9%
Dividend per share
$1.24
$1.24
$1.24
0.0%
Diluted shares, weighted
97m
96m
94m
+1.6%
Shares outstanding at period end
98m
96m
95m
+2.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,594
1,529
1,480
+4.3%
Non-controlling interest
n/a
n/a
3.2
Deposits
4,230
4,070
3,975
+3.9%
Debt
1,702
1,642
1,365
+3.7%
Other liabilities
2,623
2,352
2,261
+11.5%
Total liabilities and equity
10,149
9,593
9,085
+5.8%
Fixed assets
3,595
3,335
3,166
+7.8%
Goodwill
82.2
82.2
82.2
0.0%
Securities held for sale or to maturity
254
279
n/a
-9.1%
Loans
3,737
3,643
3,490
+2.6%
Other assets
2,481
2,254
2,347
+10.1%
Total assets
10,149
9,593
9,085
+5.8%
10-K for the year ended 31 December 2012, filed 19 February 2013: the filing.