Marzetti (MZTI) FY2012 results: revenue $989 million, down 9.3% on the year
Marzetti Co. (MZTI) reported revenue of $989 million for fiscal 2012, the year ended 30 June 2012, down 9.3% on the year before. Net income was $96 million, down 9.9%, and diluted earnings per share $3.51. The figures are the company's own, from the 10-K it filed with the SEC on 29 August 2012.
Revenue
$989 million
-9.3% on the year
FY2009FY2012
Operating margin
14.3%
13.5% a year earlier
FY2009FY2012
Net income
$96 million
-9.9% on the year
FY2009FY2012
Diluted EPS
$3.51
-8.6% on the year
FY2009FY2012
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
989
1,090
1,057
-9.3%
Cost of revenue
766
848
786
-9.7%
Gross profit
223
242
270
-7.8%
Gross margin
22.6%
22.2%
25.6%
Selling, general and administrative
82.2
95.4
93.8
-13.8%
Operating income
141
147
174
-4.0%
Operating margin
14.3%
13.5%
16.5%
Interest expense
n/a
0.0
0.0
Pre-tax income
141
162
175
-12.6%
Income tax
48.9
55.1
60.2
-11.4%
Effective tax rate
34.6%
34.1%
34.4%
Net income
95.8
106
115
-9.9%
Net margin
9.7%
9.8%
10.9%
Diluted EPS
$3.51
$3.84
$4.07
-8.6%
$ 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
122
147
108
-17.0%
Capital expenditure
16.3
35.3
12.8
-53.7%
Free cash flow
106
112
94.9
-5.4%
Free cash flow margin
10.7%
10.3%
9.0%
Cash from investing
-16.6
-35.8
-14.1
Cash from financing
-46.5
-80.3
-31.2
Depreciation and amortisation
20.3
18.9
20.5
+7.0%
Share-based compensation
2.9
2.3
1.6
+27.2%
Buybacks
8.3
43.1
4.4
-80.7%
Dividends paid
38.5
35.7
33.4
+7.8%
Dividend per share
$1.41
$1.29
$1.19
+9.3%
Diluted shares, weighted
27m
28m
28m
-1.5%
Shares outstanding at period end
27m
27m
28m
-0.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
564
518
485
+9.0%
Debt
0.0
0.0
n/a
Other liabilities
118
105
102
+13.2%
Total liabilities and equity
683
622
586
+9.7%
Fixed assets
184
185
166
-0.6%
Goodwill
89.8
89.8
89.8
0.0%
Intangible assets
7.3
8.3
9.5
-13.0%
Cash and equivalents
192
132
101
+44.9%
Receivables
73.3
63.8
67.8
+15.0%
Inventory
110
112
122
-1.9%
Other assets
26.7
30.7
30.8
-12.9%
Total assets
683
622
586
+9.7%
10-K for the year ended 30 June 2012, filed 29 August 2012: the filing.