Harmonic (HLIT) FY2012 results: revenue $477 million, down 2.9% on the year
Harmonic Inc. (HLIT) reported revenue of $477 million for fiscal 2012, the year ended 31 December 2012, down 2.9% on the year before. Net income was -$11 million, and diluted earnings per share $-0.09. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2013.
Revenue
$477 million
-2.9% on the year
FY2008FY2012
Operating margin
-3.8%
0.3% a year earlier
FY2008FY2012
Net income
-$11 million
FY2008FY2012
Diluted EPS
-$0.09
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
477
491
423
-2.9%
Cost of revenue
256
254
228
+0.9%
Gross profit
221
237
195
-6.9%
Gross margin
46.2%
48.2%
46.2%
Research and development
103
99.3
77.2
+3.3%
Selling, general and administrative
127
127
108
+0.0%
Operating income
-17.9
1.5
5.1
Operating margin
-3.8%
0.3%
1.2%
Pre-tax income
-17.7
1.4
5.4
Income tax
-1.5
-0.7
9.8
Effective tax rate
n/a
-47.6%
179.7%
Net income
-10.9
8.8
-4.3
Net margin
-2.3%
1.8%
-1.0%
Diluted EPS
-$0.09
$0.08
-$0.04
$ 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
70.8
45.2
17.6
+56.7%
Capital expenditure
12.6
17.3
35.6
-27.0%
Free cash flow
58.2
27.9
-18.1
+108.6%
Free cash flow margin
12.2%
5.7%
-4.3%
Cash from investing
-47.5
-65.3
-96.4
Cash from financing
-17.7
14.7
23.0
Depreciation and amortisation
15.2
13.9
10.0
+9.4%
Share-based compensation
18.9
20.9
15.5
-9.5%
Buybacks
22.6
0.0
n/a
Diluted shares, weighted
116m
116m
101m
+0.0%
Shares outstanding at period end
114m
116m
112m
-1.8%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
553
564
520
-1.9%
Debt
0.0
0.0
0.0
Other liabilities
164
170
200
-3.4%
Total liabilities and equity
718
734
720
-2.3%
Fixed assets
38.1
40.5
39.8
-5.8%
Goodwill
213
212
212
+0.0%
Intangible assets
58.4
87.7
118
-33.3%
Investments
n/a
70.9
23.8
Securities held for sale or to maturity
105
n/a
n/a
Cash and equivalents
96.7
91.0
96.5
+6.3%
Receivables
85.9
110
102
-21.8%
Inventory
64.3
70.6
58.1
-9.0%
Other assets
57.1
51.3
70.5
+11.4%
Total assets
718
734
720
-2.3%
10-K for the year ended 31 December 2012, filed 1 March 2013: the filing.