Microchip Technology (MCHP) FY2012 results: revenue $1.4 billion, down 7.0% on the year
Microchip Technology Inc. (MCHP) reported revenue of $1.4 billion for fiscal 2012, the year ended 31 March 2012, down 7.0% on the year before. Net income was $337 million, down 19.6%, and diluted earnings per share $0.82. The figures are the company's own, from the 10-K it filed with the SEC on 30 May 2012.
Revenue
$1.4 billion
-7.0% on the year
FY2008FY2012
Operating margin
28.7%
31.9% a year earlier
FY2008FY2012
Net income
$337 million
-19.6% on the year
FY2008FY2012
Diluted EPS
$0.82
-23.3% on the year
FY2008FY2012
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
1,383
1,487
948
-7.0%
Cost of revenue
591
613
413
-3.6%
Gross profit
799
881
534
-9.3%
Gross margin
57.8%
59.3%
56.4%
Research and development
183
171
121
+7.1%
Selling, general and administrative
208
222
167
-6.2%
Operating income
397
474
245
-16.4%
Operating margin
28.7%
31.9%
25.8%
Interest expense
34.3
31.5
31.1
+8.7%
Pre-tax income
380
461
238
-17.6%
Income tax
43.0
31.5
20.8
+36.3%
Effective tax rate
11.3%
6.8%
8.7%
Net income
337
419
217
-19.6%
Net margin
24.3%
28.2%
22.9%
Diluted EPS
$0.82
$1.07
$0.58
-23.3%
$ 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
412
583
452
-29.3%
Capital expenditure
5.8
16.6
15.4
-64.9%
Free cash flow
406
566
437
-28.3%
Free cash flow margin
29.4%
38.1%
46.1%
Cash from investing
-272
-188
-195
Cash from financing
-208
-183
-211
Depreciation and amortisation
99.4
107
90.1
-6.7%
Share-based compensation
38.3
36.8
36.8
+4.0%
Buybacks
n/a
0.0
0.0
Dividends paid
266
257
250
+3.6%
Dividend per share
$0.69
$0.69
$0.68
+1.2%
Diluted shares, weighted
407m
389m
375m
+4.5%
Shares outstanding at period end
386m
379m
371m
+1.9%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,991
1,812
1,533
+9.8%
Debt
355
347
n/a
+2.2%
Other liabilities
738
808
983
-8.7%
Total liabilities and equity
3,084
2,968
2,516
+3.9%
Fixed assets
517
541
493
-4.4%
Goodwill
93.5
76.0
40.3
+23.0%
Intangible assets
90.4
77.9
35.5
+16.0%
Investments
1,152
1,004
1,039
+14.7%
Trading assets
n/a
n/a
24.9
Cash and equivalents
636
704
492
-9.7%
Receivables
170
181
138
-6.1%
Inventory
217
181
117
+20.2%
Other assets
208
203
137
+2.4%
Total assets
3,084
2,968
2,516
+3.9%
10-K for the year ended 31 March 2012, filed 30 May 2012: the filing.