HNI (HNI) FY2011 results: revenue $1.8 billion, up 8.7% on the year
HNI Corp. (HNI) reported revenue of $1.8 billion for fiscal 2011, the year ended 31 December 2011, up 8.7% on the year before. Net income was $46 million, up 70.7%, and diluted earnings per share $1.01. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2012.
Revenue
$1.8 billion
+8.7% on the year
FY2008FY2011
Operating margin
4.4%
3.4% a year earlier
FY2008FY2011
Net income
$46 million
+70.7% on the year
FY2008FY2011
Diluted EPS
$1.01
+71.2% 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
1,833
1,687
1,623
+8.7%
Cost of revenue
1,194
1,101
1,061
+8.5%
Gross profit
639
586
563
+9.1%
Gross margin
34.9%
34.7%
34.7%
Research and development
23.1
21.8
21.1
+6.0%
Selling, general and administrative
554
518
514
+7.0%
Operating income
81.5
57.9
8.6
+40.7%
Operating margin
4.4%
3.4%
0.5%
Interest expense
12.0
11.9
12.1
+0.4%
Pre-tax income
70.2
46.5
-3.1
+51.0%
Income tax
24.4
16.8
-1.5
+45.3%
Effective tax rate
34.8%
36.1%
n/a
Net income
46.0
26.9
-6.4
+70.7%
Net margin
2.5%
1.6%
-0.4%
Diluted EPS
$1.01
$0.59
-$0.14
+71.2%
$ 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
134
94.4
193
+42.3%
Capital expenditure
27.8
25.7
16.0
+8.2%
Free cash flow
106
68.7
177
+55.0%
Free cash flow margin
5.8%
4.1%
10.9%
Cash from investing
-91.5
-25.1
13.3
Cash from financing
-69.0
-57.6
-159
Depreciation and amortisation
46.3
58.6
74.9
-21.1%
Share-based compensation
7.2
6.6
3.8
+8.6%
Buybacks
10.0
17.8
0.0
-43.9%
Dividends paid
41.2
38.7
38.7
+6.5%
Dividend per share
$0.92
$0.86
$0.86
+7.0%
Diluted shares, weighted
46m
46m
45m
-0.2%
Shares outstanding at period end
45m
45m
45m
+0.0%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
419
408
419
+2.7%
Non-controlling interest
0.3
0.5
0.3
-43.7%
Debt
180
200
200
-9.8%
Other liabilities
452
389
375
+16.1%
Total liabilities and equity
1,052
998
994
+5.4%
Fixed assets
230
232
260
-0.9%
Goodwill
271
261
261
+3.9%
Intangible assets
61.0
53.3
66.8
+14.5%
Investments
19.9
10.6
6.0
+88.0%
Cash and equivalents
72.8
99.1
87.4
-26.5%
Receivables
204
190
164
+7.3%
Inventory
102
69.0
65.1
+47.7%
Other assets
91.6
83.4
84.1
+9.8%
Total assets
1,052
998
994
+5.4%
10-K for the year ended 31 December 2011, filed 24 February 2012: the filing.