SBA Communications (SBAC) FY2012 results: revenue $954 million, up 36.7% on the year
SBA Communications Corp. (SBAC) reported revenue of $954 million for fiscal 2012, the year ended 31 December 2012, up 36.7% on the year before. Net income was -$181 million, and diluted earnings per share $-1.51. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2013.
Revenue
$954 million
+36.7% on the year
FY2008FY2012
Operating margin
15.4%
15.8% a year earlier
FY2008FY2012
Net income
-$181 million
FY2008FY2012
Diluted EPS
-$1.51
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
954
698
627
+36.7%
Cost of revenue
0.2
0.2
0.2
0.0%
Gross profit
675
698
626
-3.4%
Gross margin
70.7%
100.0%
100.0%
Selling, general and administrative
72.1
62.8
58.2
+14.8%
Operating income
147
111
74.3
+33.0%
Operating margin
15.4%
15.8%
11.9%
Interest expense
196
161
150
+22.0%
Pre-tax income
-177
-125
-193
Income tax
6.6
2.1
1.0
+212.1%
Net income
-181
-126
-195
Net margin
-19.0%
-18.1%
-31.1%
Diluted EPS
-$1.51
-$1.13
-$1.68
$ 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
341
249
201
+36.9%
Capital expenditure
113
127
66.6
-10.8%
Free cash flow
228
122
135
+86.4%
Free cash flow margin
23.9%
17.5%
21.5%
Cash from investing
-2,275
-508
-425
Cash from financing
2,116
242
127
+774.4%
Depreciation and amortisation
408
309
279
+32.1%
Share-based compensation
14.0
11.5
10.5
+21.8%
Buybacks
n/a
225
107
Shares outstanding at period end
110m
110m
115m
0.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
653
-11.3
317
Redeemable equity
11.7
12.1
n/a
-2.9%
Debt
5,356
3,354
2,827
+59.7%
Other liabilities
595
251
256
+136.9%
Total liabilities and equity
6,616
3,606
3,400
+83.4%
Fixed assets
2,671
1,583
1,534
+68.7%
Intangible assets
3,134
1,640
1,500
+91.1%
Investments
58.4
55.3
53.7
+5.6%
Cash and equivalents
233
47.3
64.3
+392.6%
Receivables
39.1
22.1
18.8
+76.9%
Other assets
480
259
229
+85.6%
Total assets
6,616
3,606
3,400
+83.4%
10-K for the year ended 31 December 2012, filed 27 February 2013: the filing.