Motorola Solutions (MSI) FY2012 results: revenue $6.3 billion, up 9.3% on the year
Motorola Solutions, Inc. (MSI) reported revenue of $6.3 billion for fiscal 2012, the year ended 31 December 2012, up 9.3% on the year before. Net income was $881 million, down 23.9%, and diluted earnings per share $2.96. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2013.
Revenue
$6.3 billion
+9.3% on the year
FY2007FY2012
Operating margin
14.7%
10.4% a year earlier
FY2007FY2012
Net income
$881 million
-23.9% on the year
FY2007FY2012
Diluted EPS
$2.96
-13.2% on the year
FY2007FY2012
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
6,269
5,738
7,617
+9.3%
Cost of revenue
3,075
2,811
3,805
+9.4%
Gross profit
3,194
2,927
3,812
+9.1%
Gross margin
50.9%
51.0%
50.0%
Research and development
790
778
1,037
+1.5%
Selling, general and administrative
1,472
1,422
1,874
+3.5%
Operating income
920
598
751
+53.8%
Operating margin
14.7%
10.4%
9.9%
Interest expense
108
132
217
-18.2%
Pre-tax income
881
481
664
+83.2%
Income tax
211
-95.0
403
Effective tax rate
24.0%
-19.8%
60.7%
Net income
881
1,158
633
-23.9%
Net margin
14.1%
20.2%
8.3%
Diluted EPS
$2.96
$3.41
$1.87
-13.2%
$ 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
674
366
803
+84.2%
Capital expenditure
170
165
192
+3.0%
Free cash flow
504
201
611
+150.7%
Free cash flow margin
8.0%
3.5%
8.0%
Cash from investing
970
2,475
523
-60.8%
Cash from financing
-2,077
-5,100
-40.0
Depreciation and amortisation
151
133
353
+13.5%
Share-based compensation
146
134
144
+9.0%
Buybacks
2,438
1,110
0.0
+119.6%
Dividends paid
270
72.0
0.0
+275.0%
Dividend per share
$0.96
$0.22
$0.00
+336.4%
Diluted shares, weighted
297m
340m
338m
-12.5%
Shares outstanding at period end
276m
319m
336m
-13.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
3,265
5,214
10,885
-37.4%
Non-controlling interest
25.0
60.0
102
-58.3%
Debt
1,863
1,535
2,700
+21.4%
Other liabilities
7,526
7,120
11,890
+5.7%
Total liabilities and equity
12,679
13,929
25,577
-9.0%
Fixed assets
730
896
922
-18.5%
Goodwill
361
362
1,429
-0.3%
Intangible assets
4.0
48.0
246
-91.7%
Investments
226
168
181
+34.5%
Cash and equivalents
1,468
1,881
4,208
-22.0%
Receivables
1,358
1,866
1,547
-27.2%
Inventory
339
512
521
-33.8%
Other assets
8,193
8,196
16,523
-0.0%
Total assets
12,679
13,929
25,577
-9.0%
10-K for the year ended 31 December 2012, filed 12 February 2013: the filing.