IDEXX Laboratories (IDXX) FY2012 results: revenue $1.3 billion, up 6.1% on the year
IDEXX Laboratories Inc. (IDXX) reported revenue of $1.3 billion for fiscal 2012, the year ended 31 December 2012, up 6.1% on the year before. Net income was $178 million, up 10.2%, and diluted earnings per share $1.58. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2013.
Revenue
$1.3 billion
+6.1% on the year
FY2008FY2012
Operating margin
20.3%
19.4% a year earlier
FY2008FY2012
Net income
$178 million
+10.2% on the year
FY2008FY2012
Diluted EPS
$1.58
+14.0% 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
1,293
1,219
1,103
+6.1%
Cost of revenue
594
572
525
+3.8%
Gross profit
699
647
579
+8.1%
Gross margin
54.1%
53.0%
52.4%
Research and development
82.0
76.0
68.6
+7.9%
Operating income
263
236
204
+11.1%
Operating margin
20.3%
19.4%
18.5%
Interest expense
3.8
3.5
2.4
+8.5%
Pre-tax income
261
234
202
+11.2%
Income tax
82.3
72.7
60.8
+13.3%
Effective tax rate
31.6%
31.0%
30.1%
Net income
178
162
141
+10.2%
Net margin
13.8%
13.3%
12.8%
Diluted EPS
$1.58
$1.39
$1.19
+14.0%
$ 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
222
218
179
+2.1%
Capital expenditure
57.6
49.7
38.9
+16.0%
Free cash flow
165
168
140
-2.0%
Free cash flow margin
12.7%
13.8%
12.7%
Cash from investing
-58.1
-94.2
-43.2
Cash from financing
-125
-97.7
-86.8
Depreciation and amortisation
52.4
48.2
46.0
+8.7%
Share-based compensation
16.0
15.5
13.3
+2.9%
Buybacks
132
256
143
-48.2%
Diluted shares, weighted
112m
116m
119m
-3.5%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
636
540
574
+17.9%
Non-controlling interest
0.0
0.0
0.0
+142.9%
Debt
2.5
3.4
n/a
-26.8%
Other liabilities
465
488
323
-4.7%
Total liabilities and equity
1,104
1,031
897
+7.1%
Fixed assets
245
217
202
+13.1%
Goodwill
175
173
149
+1.4%
Intangible assets
62.8
69.2
55.8
-9.2%
Cash and equivalents
224
184
157
+21.8%
Receivables
138
141
120
-2.1%
Inventory
141
133
128
+5.9%
Other assets
117
114
85.7
+3.0%
Total assets
1,104
1,031
897
+7.1%
10-K for the year ended 31 December 2012, filed 19 February 2013: the filing.