ITT (ITT) FY2011 results: revenue $2.1 billion, up 10.3% on the year
ITT Inc. (ITT) reported revenue of $2.1 billion for fiscal 2011, the year ended 31 December 2011, up 10.3% on the year before. Net income was -$130 million, and diluted earnings per share $-1.40. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2012.
Revenue
$2.1 billion
+10.3% on the year
FY2007FY2011
Operating margin
-11.7%
-9.6% a year earlier
FY2007FY2011
Net income
-$130 million
FY2007FY2011
Diluted EPS
-$1.40
FY2007FY2011
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
2,086
1,891
1,770
+10.3%
Cost of revenue
1,441
1,287
1,207
+12.0%
Gross profit
645
604
563
+6.8%
Gross margin
30.9%
31.9%
31.8%
Research and development
63.5
59.3
53.0
+7.1%
Selling, general and administrative
n/a
1,584
1,555
Operating income
-245
-181
-121
Operating margin
-11.7%
-9.6%
-6.8%
Interest expense
76.4
97.1
98.0
-21.3%
Pre-tax income
-316
-273
-208
Income tax
261
-142
-97.0
Net income
-130
804
629
Net margin
-6.2%
42.5%
35.5%
Diluted EPS
-$1.40
$8.75
$13.78
$ 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
n/a
n/a
1,272
Capital expenditure
102
328
271
-68.8%
Free cash flow
n/a
n/a
1,001
Free cash flow margin
n/a
n/a
56.6%
Depreciation and amortisation
71.3
64.2
65.0
+11.1%
Share-based compensation
11.5
13.7
18.0
-16.1%
Buybacks
6.6
6.0
0.0
+10.0%
Dividends paid
193
176
148
+9.4%
Dividend per share
$1.59
$1.00
$1.70
+59.1%
Diluted shares, weighted
93m
92m
46m
+0.9%
Shares outstanding at period end
94m
184m
91m
-49.2%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
694
4,461
3,827
-84.4%
Non-controlling interest
n/a
n/a
51.5
Debt
4.3
1,360
1,392
-99.7%
Other liabilities
2,973
6,794
5,859
-56.2%
Total liabilities and equity
3,671
12,615
11,129
-70.9%
Fixed assets
321
299
1,051
+7.5%
Goodwill
498
491
506
+1.3%
Intangible assets
76.6
92.0
501
-16.7%
Investments
n/a
0.0
72.0
Cash and equivalents
690
206
n/a
+234.9%
Receivables
390
315
1,754
+24.0%
Inventory
248
218
802
+13.8%
Other assets
1,447
10,994
6,443
-86.8%
Total assets
3,671
12,615
11,129
-70.9%
10-K for the year ended 31 December 2011, filed 29 February 2012: the filing.