Kennametal (KMT) FY2012 results: revenue $2.7 billion, up 13.8% on the year
Kennametal Inc. (KMT) reported revenue of $2.7 billion for fiscal 2012, the year ended 30 June 2012, up 13.8% on the year before. Net income was $307 million, up 33.7%, and diluted earnings per share $3.77. The figures are the company's own, from the 10-K it filed with the SEC on 13 August 2014.
Revenue
$2.7 billion
+13.8% on the year
FY2009FY2012
Operating margin
15.2%
13.4% a year earlier
FY2009FY2012
Net income
$307 million
+33.7% on the year
FY2009FY2012
Diluted EPS
$3.77
+36.6% 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
2,736
2,403
1,884
+13.8%
Cost of revenue
1,742
1,519
1,256
+14.7%
Gross profit
994
884
628
+12.4%
Gross margin
36.3%
36.8%
33.3%
Research and development
38.3
33.3
28.0
+15.0%
Operating income
416
322
93.2
+29.5%
Operating margin
15.2%
13.4%
4.9%
Interest expense
27.2
22.8
25.2
+19.6%
Pre-tax income
390
296
76.6
+31.7%
Income tax
79.1
63.9
27.0
+23.9%
Effective tax rate
20.3%
21.6%
35.2%
Net income
307
230
46.4
+33.7%
Net margin
11.2%
9.6%
2.5%
Diluted EPS
$3.77
$2.76
$0.57
+36.6%
$ 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
290
231
165
+25.5%
Capital expenditure
103
83.4
56.7
+23.5%
Free cash flow
187
147
108
+26.6%
Free cash flow margin
6.8%
6.1%
5.7%
Cash from investing
-487
-71.8
-40.4
Cash from financing
131
-96.0
-58.2
Depreciation and amortisation
104
93.5
96.4
+11.3%
Share-based compensation
21.5
18.9
16.6
+14.0%
Buybacks
66.9
57.9
0.3
+15.5%
Dividends paid
43.6
39.8
39.3
+9.6%
Diluted shares, weighted
81m
83m
82m
-2.1%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,644
1,638
1,316
+0.4%
Non-controlling interest
24.4
20.6
17.9
+18.5%
Debt
566
313
315
+80.8%
Other liabilities
800
783
620
+2.2%
Total liabilities and equity
3,034
2,754
2,268
+10.2%
Fixed assets
742
697
665
+6.5%
Goodwill
719
511
489
+40.7%
Intangible assets
243
152
155
+59.9%
Cash and equivalents
116
205
118
-43.1%
Receivables
479
448
327
+7.0%
Inventory
586
520
364
+12.7%
Other assets
148
221
149
-33.2%
Total assets
3,034
2,754
2,268
+10.2%
10-K for the year ended 30 June 2012, filed 13 August 2014: the filing.