NetApp (NTAP) FY2012 results: revenue $6.2 billion, up 21.7% on the year
NetApp, Inc. (NTAP) reported revenue of $6.2 billion for fiscal 2012, the year ended 27 April 2012, up 21.7% on the year before. Net income was $605 million, down 10.1%, and diluted earnings per share $1.58. The figures are the company's own, from the 10-K it filed with the SEC on 19 June 2012.
Revenue
$6.2 billion
+21.7% on the year
FY2009FY2012
Operating margin
12.0%
16.1% a year earlier
FY2009FY2012
Net income
$605 million
-10.1% on the year
FY2009FY2012
Diluted EPS
$1.58
-7.6% 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
6,233
5,123
3,931
+21.7%
Cost of revenue
2,520
1,794
1,412
+40.5%
Gross profit
3,713
3,329
2,519
+11.6%
Gross margin
59.6%
65.0%
64.1%
Research and development
828
649
536
+27.7%
Operating income
746
824
488
-9.4%
Operating margin
12.0%
16.1%
12.4%
Interest expense
74.7
75.9
74.1
-1.6%
Pre-tax income
712
794
447
-10.3%
Income tax
107
121
46.6
-11.6%
Effective tax rate
15.0%
15.2%
10.4%
Net income
605
673
400
-10.1%
Net margin
9.7%
13.1%
10.2%
Diluted EPS
$1.58
$1.71
$1.13
-7.6%
$ 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
1,463
1,346
975
+8.6%
Capital expenditure
407
223
136
+82.8%
Free cash flow
1,056
1,124
839
-6.1%
Free cash flow margin
16.9%
21.9%
21.4%
Cash from investing
-2,310
-777
-988
Cash from financing
-344
451
220
Depreciation and amortisation
293
166
166
+77.0%
Share-based compensation
258
175
160
+47.0%
Buybacks
600
0.0
0.0
Dividends paid
0.0
n/a
n/a
Diluted shares, weighted
384m
394m
353m
-2.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
4,294
3,730
2,530
+15.1%
Debt
1,202
1,150
1,102
+4.5%
Other liabilities
4,036
3,618
2,862
+11.6%
Total liabilities and equity
9,532
8,499
6,494
+12.2%
Fixed assets
1,137
912
804
+24.7%
Goodwill
905
760
681
+19.1%
Intangible assets
236
53.0
25.1
+345.3%
Investments
3,900
2,482
2,019
+57.1%
Cash and equivalents
1,550
2,757
1,705
-43.8%
Receivables
831
743
472
+11.9%
Inventory
162
108
113
+48.8%
Other assets
812
683
676
+18.9%
Total assets
9,532
8,499
6,494
+12.2%
10-K for the year ended 27 April 2012, filed 19 June 2012: the filing.