MSA Safety (MSA) FY2012 results: revenue $1.1 billion, up 0.3% on the year
MSA Safety Inc. (MSA) reported revenue of $1.1 billion for fiscal 2012, the year ended 31 December 2012, up 0.3% on the year before. Net income was $91 million, up 29.8%, and diluted earnings per share $2.42. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2013.
Revenue
$1.1 billion
+0.3% on the year
FY2008FY2012
Operating margin
11.5%
9.0% a year earlier
FY2008FY2012
Net income
$91 million
+29.8% on the year
FY2008FY2012
Diluted EPS
$2.42
+29.4% 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
1,121
1,118
983
+0.3%
Cost of revenue
621
654
607
-5.1%
Gross profit
490
464
370
+5.5%
Gross margin
43.7%
41.5%
37.7%
Research and development
40.9
39.2
32.8
+4.2%
Selling, general and administrative
313
298
263
+5.1%
Operating income
129
101
57.3
+28.0%
Operating margin
11.5%
9.0%
5.8%
Interest expense
11.4
14.1
8.7
-19.5%
Pre-tax income
129
101
57.3
+28.0%
Income tax
41.4
33.8
18.3
+22.5%
Effective tax rate
32.0%
33.4%
31.9%
Net income
90.6
69.9
38.1
+29.8%
Net margin
8.1%
6.2%
3.9%
Diluted EPS
$2.42
$1.87
$1.05
+29.4%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
150
85.3
31.6
+76.5%
Capital expenditure
32.2
30.4
25.0
+6.0%
Free cash flow
118
54.9
6.6
+115.5%
Free cash flow margin
10.5%
4.9%
0.7%
Cash from investing
-17.3
-11.7
-282
Cash from financing
-111
-71.3
247
Depreciation and amortisation
31.7
32.9
29.2
-3.5%
Share-based compensation
10.0
7.7
7.3
+29.5%
Dividends paid
51.0
37.7
35.9
+35.1%
Diluted shares, weighted
37m
37m
36m
+0.6%
Shares outstanding at period end
37m
37m
37m
+0.9%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
463
434
451
+6.8%
Non-controlling interest
7.7
5.7
4.7
+34.9%
Short-term borrowings
0.2
0.2
0.2
0.0%
Debt
279
342
377
-18.4%
Other liabilities
362
333
364
+8.5%
Total liabilities and equity
1,112
1,115
1,197
-0.3%
Fixed assets
147
146
157
+1.2%
Goodwill
258
259
263
-0.3%
Intangible assets
38.6
47.1
53.9
-18.0%
Cash and equivalents
82.7
59.9
59.8
+38.0%
Receivables
191
193
199
-0.7%
Inventory
136
141
151
-3.7%
Other assets
257
269
315
-4.5%
Total assets
1,112
1,115
1,197
-0.3%
10-K for the year ended 31 December 2012, filed 20 February 2013: the filing.