Lumen Technologies (LUMN) FY2013 results: revenue $18.1 billion, down 1.5% on the year
Lumen Technologies, Inc. (LUMN) reported revenue of $18.1 billion for fiscal 2013, the year ended 31 December 2013, down 1.5% on the year before. Net income was -$239 million, and diluted earnings per share $-0.40. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2014.
Revenue
$18.1 billion
-1.5% on the year
FY2008FY2013
Operating margin
8.0%
14.8% a year earlier
FY2008FY2013
Net income
-$239 million
FY2008FY2013
Diluted EPS
-$0.40
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
18,095
18,376
15,351
-1.5%
Cost of revenue
7,507
7,639
6,325
-1.7%
Gross profit
10,588
10,737
9,026
-1.4%
Gross margin
58.5%
58.4%
58.8%
Selling, general and administrative
3,502
3,244
2,975
+8.0%
Operating income
1,453
2,713
2,025
-46.4%
Operating margin
8.0%
14.8%
13.2%
Interest expense
1,298
1,319
1,072
-1.6%
Pre-tax income
224
1,250
948
-82.1%
Income tax
463
473
375
-2.1%
Effective tax rate
206.7%
37.8%
39.6%
Net income
-239
777
573
Net margin
-1.3%
4.2%
3.7%
Diluted EPS
-$0.40
$1.25
$1.07
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
5,559
6,065
4,201
-8.3%
Capital expenditure
3,048
2,919
2,411
+4.4%
Free cash flow
2,511
3,146
1,790
-20.2%
Free cash flow margin
13.9%
17.1%
11.7%
Depreciation and amortisation
4,541
4,780
4,026
-5.0%
Share-based compensation
71.0
110
65.0
-35.5%
Buybacks
1,586
37.0
31.0
+4,186.5%
Dividends paid
1,301
1,811
1,556
-28.2%
Diluted shares, weighted
601m
622m
534m
-3.4%
Shares outstanding at period end
584m
626m
619m
-6.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
17,191
19,289
20,827
-10.9%
Debt
20,966
20,605
21,836
+1.8%
Other liabilities
13,630
14,126
13,476
-3.5%
Total liabilities and equity
51,787
54,020
56,139
-4.1%
Fixed assets
18,646
18,909
19,436
-1.4%
Goodwill
20,674
21,627
21,724
-4.4%
Cash and equivalents
168
211
128
-20.4%
Receivables
1,977
1,917
1,952
+3.1%
Other assets
10,322
11,356
12,899
-9.1%
Total assets
51,787
54,020
56,139
-4.1%
10-K for the year ended 31 December 2013, filed 27 February 2014: the filing.