AT&T (T) FY2011 results: revenue $126.7 billion, up 2.0% on the year
AT&T Inc. (T) reported revenue of $126.7 billion for fiscal 2011, the year ended 31 December 2011, up 2.0% on the year before. Net income was $3.9 billion, down 80.1%, and diluted earnings per share $0.66. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2012.
Revenue
$126.7 billion
+2.0% on the year
FY2007FY2011
Operating margin
7.3%
15.7% a year earlier
FY2007FY2011
Net income
$3.9 billion
-80.1% on the year
FY2007FY2011
Diluted EPS
$0.66
-80.3% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
126,723
124,280
122,513
+2.0%
Cost of revenue
54,904
50,257
50,639
+9.2%
Gross profit
71,819
74,023
71,874
-3.0%
Gross margin
56.7%
59.6%
58.7%
Selling, general and administrative
41,314
34,986
31,407
+18.1%
Operating income
9,218
19,573
21,000
-52.9%
Operating margin
7.3%
15.7%
17.1%
Interest expense
3,535
2,994
3,368
+18.1%
Pre-tax income
6,716
18,238
18,518
-63.2%
Income tax
2,532
-1,162
6,091
Effective tax rate
37.7%
-6.4%
32.9%
Net income
3,944
19,864
12,138
-80.1%
Net margin
3.1%
16.0%
9.9%
Diluted EPS
$0.66
$3.35
$2.05
-80.3%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
34,743
35,222
34,445
-1.4%
Capital expenditure
20,110
19,530
16,554
+3.0%
Free cash flow
14,633
15,692
17,891
-6.7%
Free cash flow margin
11.5%
12.6%
14.6%
Cash from investing
-21,250
-21,449
-17,883
Cash from financing
-11,650
-15,848
-14,510
Depreciation and amortisation
18,377
19,379
19,515
-5.2%
Share-based compensation
489
513
n/a
-4.7%
Buybacks
0.0
0.0
0.0
Dividends paid
10,172
9,916
9,670
+2.6%
Dividend per share
$1.73
$1.69
$1.65
+2.4%
Diluted shares, weighted
5,950m
5,938m
5,924m
+0.2%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
105,797
111,950
101,989
-5.5%
Debt
64,753
66,167
72,048
-2.1%
Other liabilities
99,794
91,274
94,715
+9.3%
Total liabilities and equity
270,344
269,391
268,752
+0.4%
Fixed assets
107,087
103,196
99,519
+3.8%
Goodwill
70,842
73,601
72,782
-3.7%
Securities held for sale or to maturity
n/a
639
341
Cash and equivalents
3,045
1,201
3,277
+153.5%
Receivables
13,231
13,610
14,845
-2.8%
Inventory
1,188
1,303
885
-8.8%
Other assets
74,951
75,841
77,103
-1.2%
Total assets
270,344
269,391
268,752
+0.4%
10-K for the year ended 31 December 2011, filed 24 February 2012: the filing.