Scotts Miracle-Gro (SMG) FY2012 results: revenue $2.8 billion, down 1.0% on the year
Scotts Miracle-Gro Co. (SMG) reported revenue of $2.8 billion for fiscal 2012, the year ended 30 September 2012, down 1.0% on the year before. Net income was $106 million, down 36.6%, and diluted earnings per share $1.71. The figures are the company's own, from the 10-K it filed with the SEC on 20 November 2013.
Revenue
$2.8 billion
-1.0% on the year
FY2008FY2012
Operating margin
8.7%
9.8% a year earlier
FY2008FY2012
Net income
$106 million
-36.6% on the year
FY2008FY2012
Diluted EPS
$1.71
-32.7% 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
2,770
2,800
2,873
-1.0%
Cost of revenue
1,814
1,769
1,784
+2.5%
Gross profit
957
1,009
1,086
-5.2%
Gross margin
34.5%
36.0%
37.8%
Research and development
50.1
50.9
47.3
-1.6%
Selling, general and administrative
703
686
693
+2.5%
Operating income
241
275
374
-12.2%
Operating margin
8.7%
9.8%
13.0%
Interest expense
61.8
51.0
43.2
+21.2%
Pre-tax income
179
223
331
-19.4%
Income tax
67.8
82.7
124
-18.0%
Effective tax rate
37.8%
37.2%
37.3%
Net income
106
168
204
-36.6%
Net margin
3.8%
6.0%
7.1%
Diluted EPS
$1.71
$2.54
$3.02
-32.7%
$ 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
153
122
296
+25.6%
Capital expenditure
69.4
72.7
83.4
-4.5%
Free cash flow
84.0
49.4
212
+70.0%
Free cash flow margin
3.0%
1.8%
7.4%
Cash from investing
-75.7
154
-58.9
Cash from financing
-79.3
-231
-216
Depreciation and amortisation
62.4
60.8
n/a
+2.6%
Share-based compensation
12.5
16.0
16.4
-21.9%
Buybacks
17.5
359
25.0
-95.1%
Dividends paid
75.4
67.9
42.6
+11.0%
Dividend per share
$1.23
$1.05
$0.62
+16.7%
Diluted shares, weighted
62m
66m
68m
-6.2%
Shares outstanding at period end
61m
61m
67m
+0.8%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
602
560
764
+7.5%
Debt
783
795
632
-1.6%
Other liabilities
690
697
768
-1.1%
Total liabilities and equity
2,074
2,052
2,164
+1.1%
Fixed assets
427
395
381
+8.3%
Goodwill
309
309
306
+0.1%
Intangible assets
307
320
330
-3.9%
Cash and equivalents
132
131
88.1
+0.8%
Receivables
331
324
351
+2.3%
Inventory
415
387
353
+7.2%
Other assets
153
187
355
-18.5%
Total assets
2,074
2,052
2,164
+1.1%
10-K for the year ended 30 September 2012, filed 20 November 2013: the filing.