Rayonier (RYN) FY2012 results: revenue $379 million, down 73.4% on the year
Rayonier Inc. (RYN) reported revenue of $379 million for fiscal 2012, the year ended 31 December 2012, down 73.4% on the year before. Net income was $279 million, up 1.0%, and diluted earnings per share $2.17. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2013.
Revenue
$379 million
-73.4% on the year
FY2008FY2012
Operating margin
8.5%
25.1% a year earlier
FY2008FY2012
Net income
$279 million
+1.0% on the year
FY2008FY2012
Diluted EPS
$2.17
-1.4% 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
379
1,421
1,315
-73.4%
Cost of revenue
305
1,006
990
-69.6%
Gross profit
73.1
415
325
-82.4%
Gross margin
19.3%
29.2%
24.7%
Selling, general and administrative
58.6
65.3
67.1
-10.1%
Operating income
32.1
357
282
-91.0%
Operating margin
8.5%
25.1%
21.4%
Interest expense
42.8
50.8
50.5
-15.7%
Pre-tax income
-10.3
307
233
Income tax
-27.1
30.7
15.2
Effective tax rate
n/a
10.0%
6.5%
Net income
279
276
218
+1.0%
Net margin
73.6%
19.4%
16.5%
Diluted EPS
$2.17
$2.20
$1.79
-1.4%
$ 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
446
432
495
+3.2%
Cash from investing
-473
-489
-143
Cash from financing
229
-215
-78.2
Depreciation and amortisation
84.6
133
143
-36.2%
Share-based compensation
15.1
16.2
15.2
-6.6%
Buybacks
7.8
7.9
6.0
-1.6%
Dividends paid
207
185
164
+11.5%
Dividend per share
$1.68
$1.52
$1.36
+10.5%
Diluted shares, weighted
129m
125m
122m
+2.6%
Shares outstanding at period end
123m
122m
121m
+1.1%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,438
1,323
1,252
+8.7%
Non-controlling interest
0.0
n/a
n/a
Debt
1,270
847
768
+49.9%
Other liabilities
415
399
344
+4.0%
Total liabilities and equity
3,123
2,569
2,364
+21.5%
Fixed assets
707
462
385
+53.2%
Goodwill
0.0
n/a
n/a
Cash and equivalents
281
78.6
349
+257.0%
Receivables
100
95.0
82.6
+5.6%
Inventory
128
122
110
+4.9%
Other assets
1,907
1,812
1,436
+5.2%
Total assets
3,123
2,569
2,364
+21.5%
10-K for the year ended 31 December 2012, filed 26 February 2013: the filing.