Idex (IEX) FY2011 results: revenue $1.8 billion, up 21.5% on the year
Idex Corp. (IEX) reported revenue of $1.8 billion for fiscal 2011, the year ended 31 December 2011, up 21.5% on the year before. Net income was $194 million, up 23.4%, and diluted earnings per share $2.32. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2012.
Revenue
$1.8 billion
+21.5% on the year
FY2008FY2011
Operating margin
16.6%
16.5% a year earlier
FY2008FY2011
Net income
$194 million
+23.4% on the year
FY2008FY2011
Diluted EPS
$2.32
+22.1% 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
1,838
1,513
1,330
+21.5%
Cost of revenue
1,100
895
807
+22.9%
Gross profit
739
618
522
+19.4%
Gross margin
40.2%
40.9%
39.3%
Research and development
36.0
31.8
29.6
+13.2%
Selling, general and administrative
422
358
325
+17.7%
Operating income
305
249
185
+22.3%
Operating margin
16.6%
16.5%
13.9%
Interest expense
29.3
16.1
17.2
+81.6%
Pre-tax income
274
232
169
+18.1%
Income tax
80.0
74.8
55.4
+7.0%
Effective tax rate
29.2%
32.2%
32.8%
Net income
194
157
113
+23.4%
Net margin
10.5%
10.4%
8.5%
Diluted EPS
$2.32
$1.90
$1.40
+22.1%
$ 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
217
184
213
+17.8%
Capital expenditure
35.2
31.7
25.1
+10.8%
Free cash flow
182
153
187
+19.2%
Free cash flow margin
9.9%
10.1%
14.1%
Cash from investing
-470
-122
-19.6
Cash from financing
253
95.5
-185
+165.3%
Depreciation and amortisation
72.4
58.1
56.3
+24.6%
Share-based compensation
12.1
17.4
15.7
-30.4%
Buybacks
0.0
n/a
n/a
Dividends paid
54.6
46.3
38.6
+17.9%
Dividend per share
$0.68
$0.60
$0.48
+13.3%
Diluted shares, weighted
84m
82m
81m
+1.9%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
1,513
1,376
1,268
+10.0%
Short-term borrowings
2.4
119
8.3
-98.0%
Debt
809
528
392
+53.2%
Other liabilities
512
359
430
+42.7%
Total liabilities and equity
2,836
2,382
2,098
+19.1%
Fixed assets
214
189
178
+13.3%
Goodwill
1,431
1,207
1,180
+18.6%
Intangible assets
382
281
281
+35.8%
Cash and equivalents
230
235
73.5
-2.1%
Receivables
253
214
183
+18.4%
Inventory
254
197
159
+29.4%
Other assets
71.4
59.5
41.9
+20.1%
Total assets
2,836
2,382
2,098
+19.1%
10-K for the year ended 31 December 2011, filed 24 February 2012: the filing.