Telephone & Data Systems (TDS) FY2012 results: revenue $5.3 billion, up 3.2% on the year
Telephone & Data Systems Inc. (TDS) reported revenue of $5.3 billion for fiscal 2012, the year ended 31 December 2012, up 3.2% on the year before. Net income was $82 million, down 59.2%, and diluted earnings per share $0.75. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2013.
Revenue
$5.3 billion
+3.2% on the year
FY2008FY2012
Operating margin
3.4%
7.0% a year earlier
FY2008FY2012
Net income
$82 million
-59.2% on the year
FY2008FY2012
Diluted EPS
$0.75
-59.0% 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
5,345
5,180
4,987
+3.2%
Cost of revenue
2,273
2,051
1,925
+10.8%
Gross profit
3,073
3,130
3,062
-1.8%
Gross margin
57.5%
60.4%
61.4%
Selling, general and administrative
2,034
2,002
1,998
+1.6%
Operating income
184
363
296
-49.3%
Operating margin
3.4%
7.0%
5.9%
Interest expense
86.7
118
117
-26.6%
Pre-tax income
196
364
286
-46.1%
Income tax
73.6
114
95.2
-35.2%
Effective tax rate
37.5%
31.2%
33.3%
Net income
81.9
201
145
-59.2%
Net margin
1.5%
3.9%
2.9%
Diluted EPS
$0.75
$1.83
$1.31
-59.0%
$ 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
1,105
1,256
1,076
-12.0%
Capital expenditure
996
972
739
+2.4%
Free cash flow
110
284
337
-61.4%
Free cash flow margin
2.1%
5.5%
6.8%
Cash from investing
-998
-866
-1,208
Cash from financing
70.1
-168
-201
Depreciation and amortisation
814
766
756
+6.2%
Share-based compensation
41.9
36.8
35.1
+13.7%
Buybacks
20.0
21.5
68.1
-6.9%
Dividends paid
53.2
48.7
47.2
+9.2%
Dividend per share
$0.49
$0.47
$0.45
+4.3%
Diluted shares, weighted
109m
109m
110m
-0.1%
Shares outstanding at period end
108m
108m
104m
-0.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
4,012
3,962
3,814
+1.2%
Non-controlling interest
644
640
646
+0.7%
Redeemable equity
51.1
61.7
n/a
-17.2%
Debt
1,722
1,530
1,500
+12.5%
Other liabilities
2,196
2,008
1,736
+9.4%
Total liabilities and equity
8,624
8,201
7,696
+5.2%
Fixed assets
3,997
3,785
3,518
+5.6%
Goodwill
797
797
728
+0.0%
Intangible assets
58.5
50.7
30.8
+15.4%
Investments
2,567
2,564
2,528
+0.1%
Cash and equivalents
740
563
342
+31.5%
Receivables
410
394
379
+4.0%
Inventory
161
130
116
+23.6%
Other assets
n/a
n/a
53.6
Total assets
8,624
8,201
7,696
+5.2%
10-K for the year ended 31 December 2012, filed 26 February 2013: the filing.