J.M. Smucker (SJM) FY2012 results: revenue $5.5 billion, up 14.5% on the year
J.M. Smucker Co. (SJM) reported revenue of $5.5 billion for fiscal 2012, the year ended 30 April 2012, up 14.5% on the year before. Net income was $460 million, down 4.1%, and diluted earnings per share $4.06. The figures are the company's own, from the 10-K it filed with the SEC on 25 June 2012.
Revenue
$5.5 billion
+14.5% on the year
FY2009FY2012
Operating margin
14.1%
16.3% a year earlier
FY2009FY2012
Net income
$460 million
-4.1% on the year
FY2009FY2012
Diluted EPS
$4.06
+0.2% 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
5,526
4,826
4,605
+14.5%
Cost of revenue
3,681
3,027
2,815
+21.6%
Gross profit
1,845
1,799
1,787
+2.6%
Gross margin
33.4%
37.3%
38.8%
Research and development
21.9
21.0
21.0
+4.5%
Selling, general and administrative
893
863
878
+3.4%
Operating income
778
784
791
-0.8%
Operating margin
14.1%
16.3%
17.2%
Interest expense
81.3
69.6
65.2
+16.8%
Pre-tax income
701
717
731
-2.2%
Income tax
241
238
237
+1.6%
Effective tax rate
34.4%
33.1%
32.4%
Net income
460
479
494
-4.1%
Net margin
8.3%
9.9%
10.7%
Diluted EPS
$4.06
$4.05
$4.15
+0.2%
$ 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
731
392
713
+86.7%
Capital expenditure
274
180
137
+52.3%
Free cash flow
457
211
576
+115.9%
Free cash flow margin
8.3%
4.4%
12.5%
Cash from investing
-1,036
-193
-104
Cash from financing
220
-170
-789
Depreciation and amortisation
208
186
182
+12.0%
Share-based compensation
21.7
24.0
25.9
-9.5%
Buybacks
316
389
5.6
-18.9%
Dividends paid
214
194
166
+10.1%
Dividend per share
$1.92
$1.68
$1.45
+14.3%
Diluted shares, weighted
113m
118m
119m
-4.2%
Shares outstanding at period end
110m
114m
119m
-3.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
5,163
5,292
5,326
-2.4%
Debt
2,071
1,304
910
+58.8%
Other liabilities
1,881
1,728
1,739
+8.9%
Total liabilities and equity
9,115
8,325
7,975
+9.5%
Fixed assets
1,096
868
858
+26.3%
Goodwill
3,055
2,813
2,808
+8.6%
Intangible assets
3,187
2,940
3,027
+8.4%
Investments
36.2
60.2
34.9
-39.8%
Cash and equivalents
230
320
284
-28.2%
Receivables
348
344
239
+0.9%
Inventory
962
864
655
+11.3%
Other assets
203
116
70.0
+74.6%
Total assets
9,115
8,325
7,975
+9.5%
10-K for the year ended 30 April 2012, filed 25 June 2012: the filing.