HNI (HNI) FY2012 results: revenue $2.0 billion, up 9.3% on the year
HNI Corp. (HNI) reported revenue of $2.0 billion for fiscal 2012, the year ended 29 December 2012, up 9.3% on the year before. Net income was $49 million, up 6.5%, and diluted earnings per share $1.07. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2013.
Revenue
$2.0 billion
+9.3% on the year
FY2008FY2012
Operating margin
4.4%
4.4% a year earlier
FY2008FY2012
Net income
$49 million
+6.5% on the year
FY2008FY2012
Diluted EPS
$1.07
+5.9% 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
2,004
1,833
1,687
+9.3%
Cost of revenue
1,315
1,194
1,101
+10.1%
Gross profit
689
639
586
+7.8%
Gross margin
34.4%
34.9%
34.7%
Research and development
26.9
23.1
21.8
+16.5%
Selling, general and administrative
600
554
518
+8.2%
Operating income
87.6
81.5
57.9
+7.5%
Operating margin
4.4%
4.4%
3.4%
Interest expense
10.9
12.0
11.9
-9.1%
Pre-tax income
77.6
70.2
46.5
+10.6%
Income tax
29.3
24.4
16.8
+19.9%
Effective tax rate
37.7%
34.8%
36.1%
Net income
49.0
46.0
26.9
+6.5%
Net margin
2.4%
2.5%
1.6%
Diluted EPS
$1.07
$1.01
$0.59
+5.9%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
145
134
94.4
+7.8%
Capital expenditure
39.5
27.8
25.7
+42.0%
Free cash flow
105
106
68.7
-1.1%
Free cash flow margin
5.3%
5.8%
4.1%
Cash from investing
-85.8
-91.5
-25.1
Cash from financing
-90.0
-69.0
-57.6
Depreciation and amortisation
43.4
46.3
58.6
-6.3%
Share-based compensation
6.4
7.2
6.6
-10.2%
Buybacks
21.0
10.0
17.8
+110.2%
Dividends paid
43.0
41.2
38.7
+4.3%
Dividend per share
$0.95
$0.92
$0.86
+3.3%
Diluted shares, weighted
46m
46m
46m
+0.3%
Shares outstanding at period end
45m
45m
45m
+0.2%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
420
419
408
+0.3%
Non-controlling interest
0.3
0.3
0.5
+13.6%
Debt
155
180
200
-14.3%
Other liabilities
502
452
389
+11.0%
Total liabilities and equity
1,077
1,052
998
+2.4%
Fixed assets
240
230
232
+4.7%
Goodwill
288
271
261
+6.5%
Intangible assets
87.0
61.0
53.3
+42.6%
Investments
20.6
19.9
10.6
+3.7%
Cash and equivalents
41.8
72.8
99.1
-42.6%
Receivables
213
204
190
+4.6%
Inventory
93.5
102
69.0
-8.2%
Other assets
91.8
91.6
83.4
+0.2%
Total assets
1,077
1,052
998
+2.4%
10-K for the year ended 29 December 2012, filed 22 February 2013: the filing.