Labcorp Holdings (LH) FY2011 results: revenue $5.5 billion, up 10.8% on the year
Labcorp Holdings Inc. (LH) reported revenue of $5.5 billion for fiscal 2011, the year ended 31 December 2011, up 10.8% on the year before. Net income was $520 million, down 6.9%, and diluted earnings per share $5.11. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2012.
Revenue
$5.5 billion
+10.8% on the year
FY2007FY2011
Operating margin
17.1%
19.6% a year earlier
FY2007FY2011
Net income
$520 million
-6.9% on the year
FY2007FY2011
Diluted EPS
$5.11
-3.4% on the year
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
5,542
5,004
4,695
+10.8%
Cost of revenue
3,268
2,906
2,724
+12.4%
Gross profit
2,275
2,098
1,971
+8.4%
Gross margin
41.0%
41.9%
42.0%
Selling, general and administrative
1,160
1,034
959
+12.1%
Operating income
948
979
936
-3.1%
Operating margin
17.1%
19.6%
19.9%
Interest expense
87.5
70.0
62.9
+25.0%
Income tax
333
344
329
-3.2%
Net income
520
558
543
-6.9%
Net margin
9.4%
11.2%
11.6%
Diluted EPS
$5.11
$5.29
$4.98
-3.4%
$ 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
856
884
862
-3.2%
Capital expenditure
146
126
115
+15.5%
Free cash flow
710
758
748
-6.3%
Free cash flow margin
12.8%
15.1%
15.9%
Cash from investing
-280
-1,318
-334
Cash from financing
-645
515
-601
Depreciation and amortisation
231
204
195
+13.7%
Share-based compensation
48.9
40.0
36.4
+22.2%
Buybacks
644
338
273
+90.4%
Diluted shares, weighted
102m
105m
109m
-3.4%
Shares outstanding at period end
98m
102m
105m
-4.5%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
2,504
2,466
2,106
+1.5%
Non-controlling interest
n/a
n/a
0.0
Debt
2,221
1,827
977
+21.6%
Other liabilities
1,387
1,895
1,754
-26.8%
Total liabilities and equity
6,112
6,188
4,838
-1.2%
Fixed assets
578
587
501
-1.5%
Goodwill
2,682
2,601
1,897
+3.1%
Intangible assets
1,621
1,674
1,342
-3.2%
Cash and equivalents
159
159
148
0.0%
Receivables
700
656
574
+6.7%
Inventory
111
103
90.0
+7.2%
Other assets
261
407
285
-35.9%
Total assets
6,112
6,188
4,838
-1.2%
10-K for the year ended 31 December 2011, filed 24 February 2012: the filing.