JBT Marel (JBTM) FY2012 results: revenue $917 million, down 4.0% on the year
JBT Marel Corp. (JBTM) reported revenue of $917 million for fiscal 2012, the year ended 31 December 2012, down 4.0% on the year before. Net income was $36 million, up 18.7%, and diluted earnings per share $1.23. The figures are the company's own, from the 10-K it filed with the SEC on 7 March 2013.
Revenue
$917 million
-4.0% on the year
FY2009FY2012
Operating margin
6.6%
5.6% a year earlier
FY2009FY2012
Net income
$36 million
+18.7% on the year
FY2009FY2012
Diluted EPS
$1.23
+18.3% on the year
FY2009FY2012
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
917
956
880
-4.0%
Cost of revenue
686
721
646
-4.8%
Gross profit
89.5
78.3
84.4
+14.3%
Gross margin
9.8%
8.2%
9.6%
Research and development
14.3
18.5
17.5
-22.7%
Selling, general and administrative
157
153
148
+2.4%
Operating income
60.9
53.2
67.1
+14.5%
Operating margin
6.6%
5.6%
7.6%
Interest expense
7.4
7.0
7.8
+5.7%
Pre-tax income
54.0
46.8
59.3
+15.4%
Income tax
16.9
16.0
21.4
+5.6%
Effective tax rate
31.3%
34.2%
36.1%
Net income
36.2
30.5
37.3
+18.7%
Net margin
3.9%
3.2%
4.2%
Diluted EPS
$1.23
$1.04
$1.28
+18.3%
$ 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
86.0
36.4
17.5
+136.3%
Capital expenditure
24.7
20.8
24.3
+18.8%
Free cash flow
61.3
15.6
-6.8
+292.9%
Free cash flow margin
6.7%
1.6%
-0.8%
Cash from investing
-32.6
-21.4
-23.7
Cash from financing
36.1
-18.5
4.9
Depreciation and amortisation
23.6
24.1
22.9
-2.1%
Share-based compensation
7.5
5.2
7.3
+44.2%
Buybacks
3.6
0.3
n/a
+1,100.0%
Dividends paid
8.5
8.4
8.1
+1.2%
Dividend per share
$0.28
$0.28
$0.28
0.0%
Diluted shares, weighted
30m
29m
29m
+0.7%
Shares outstanding at period end
29m
29m
28m
+0.3%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
106
79.8
93.0
+32.3%
Debt
191
140
145
+36.4%
Other liabilities
381
372
344
+2.4%
Total liabilities and equity
678
592
582
+14.5%
Fixed assets
126
125
129
+1.2%
Goodwill
30.6
28.2
28.4
+8.5%
Intangible assets
23.8
18.2
19.9
+30.8%
Cash and equivalents
99.0
9.0
13.7
+1,000.0%
Receivables
188
189
193
-0.5%
Inventory
109
122
107
-10.7%
Other assets
101
100
92.1
+0.4%
Total assets
678
592
582
+14.5%
10-K for the year ended 31 December 2012, filed 7 March 2013: the filing.