Regal Rexnord (RRX) FY2010 results: revenue $2.8 billion, up 53.8% on the year

Regal Rexnord Corp. (RRX) reported revenue of $2.8 billion for fiscal 2010, the year ended 31 December 2010, up 53.8% on the year before. Net income was $149 million, up 57.2%, and diluted earnings per share $3.84. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2013.

Revenue

$2.8 billion

+53.8% on the year

FY2008FY2010

Operating margin

8.5%

8.7% a year earlier

FY2008FY2010

Net income

$149 million

+57.2% on the year

FY2008FY2010

Diluted EPS

$3.84

+46.0% on the year

FY2008FY2010

this yearthe year beforeHover a bar for its figure.

The year in brief

Income statement (profit and loss)

$ million	FY2010	FY2009	FY2008	On the year
Revenue	2,808	1,826	2,246	+53.8%
Cost of revenue	1,689	1,402	1,746	+20.4%
Gross profit	n/a	424	501
Gross margin	n/a	23.2%	22.3%
Research and development	10.4	n/a	n/a
Operating income	238	160	230	+49.1%
Operating margin	8.5%	8.7%	10.3%
Interest expense	19.6	23.3	32.6	-15.8%
Pre-tax income	221	138	199	+60.0%
Income tax	66.0	39.3	70.3	+68.0%
Effective tax rate	29.9%	28.5%	35.3%
Net income	149	95.0	126	+57.2%
Net margin	5.3%	5.2%	5.6%
Diluted EPS	$3.84	$2.63	$3.78	+46.0%

$ million except per share.

Free 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	FY2010	FY2009	FY2008	On the year
Operating cash flow	175	315	154	-44.3%
Capital expenditure	57.6	33.6	52.2	+71.4%
Free cash flow	118	281	102	-58.1%
Free cash flow margin	4.2%	15.4%	4.5%
Cash from investing	-195	-152	-99.7
Cash from financing	-70.3	32.9	-31.4
Depreciation and amortisation	72.9	69.1	n/a	+5.4%
Share-based compensation	6.7	4.8	4.6	+41.0%
Buybacks	n/a	n/a	4.2
Dividends paid	25.1	21.6	19.4	+16.2%
Dividend per share	$0.67	$0.64	$0.63	+4.7%
Diluted shares, weighted	39m	36m	33m	+7.7%

Balance sheet

$ million	FY2010	FY2009	FY2008	On the year
Shareholders' equity	1,397	1,168	838	+19.6%
Non-controlling interest	n/a	12.2	n/a
Short-term borrowings	n/a	7.0	n/a
Debt	n/a	476	n/a
Other liabilities	n/a	449	n/a
Total liabilities and equity	n/a	2,112	n/a
Fixed assets	n/a	343	n/a
Goodwill	776	664	n/a	+16.8%
Intangible assets	n/a	116	n/a
Trading assets	n/a	118	n/a
Cash and equivalents	174	262	65.2	-33.5%
Receivables	n/a	241	n/a
Inventory	n/a	269	n/a
Other assets	1,499	99.3	n/a	+1,409.7%
Total assets	2,449	2,112	n/a	+15.9%

10-K for the year ended 31 December 2010, filed 27 February 2013: the filing.