Telephone & Data Systems (TDS) FY2016 results: revenue $5.2 billion, down 1.1% on the year
Telephone & Data Systems Inc. (TDS) reported revenue of $5.2 billion for fiscal 2016, the year ended 31 December 2016, down 1.1% on the year before. Net income was $43 million, down 80.4%, and diluted earnings per share $0.39. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$5.2 billion
-1.1% on the year
FY2009FY2016
Operating margin
2.1%
8.3% a year earlier
FY2009FY2016
Net income
$43 million
-80.4% on the year
FY2009FY2016
Diluted EPS
$0.39
-80.3% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
5,155
5,210
5,009
-1.1%
Cost of revenue
2,429
2,415
2,511
+0.6%
Gross profit
2,726
2,795
2,498
-2.5%
Gross margin
52.9%
53.6%
49.9%
Selling, general and administrative
1,759
1,780
1,866
-1.2%
Operating income
108
431
-181
-74.9%
Operating margin
2.1%
8.3%
-3.6%
Interest expense
170
142
111
+20.0%
Pre-tax income
92.0
435
-152
-78.8%
Income tax
40.0
172
-5.0
-76.7%
Effective tax rate
43.5%
39.6%
n/a
Net income
43.0
219
-136
-80.4%
Net margin
0.8%
4.2%
-2.7%
Diluted EPS
$0.39
$1.98
-$1.26
-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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
782
790
395
-1.0%
Capital expenditure
636
801
799
-20.6%
Free cash flow
146
-10.6
-404
Free cash flow margin
2.8%
-0.2%
-8.1%
Cash from investing
-808
-743
n/a
Cash from financing
-59.0
461
n/a
Depreciation and amortisation
820
810
798
+1.2%
Share-based compensation
42.0
40.0
36.0
+5.0%
Buybacks
3.0
0.0
39.0
Dividends paid
65.0
61.0
n/a
+6.6%
Dividend per share
$0.59
$0.56
$0.54
+5.4%
Diluted shares, weighted
111m
110m
108m
+1.0%
Shares outstanding at period end
110m
109m
108m
+0.9%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,144
4,126
3,926
+0.4%
Non-controlling interest
605
578
528
+4.7%
Redeemable equity
5.0
4.2
3.0
+19.0%
Debt
2,433
2,454
1,941
-0.9%
Other liabilities
2,259
2,261
2,456
-0.1%
Total liabilities and equity
9,446
9,422
8,854
+0.2%
Fixed assets
3,555
3,764
3,846
-5.6%
Goodwill
766
766
771
+0.0%
Intangible assets
33.0
47.0
64.5
-29.8%
Investments
0.0
n/a
2,856
Cash and equivalents
900
985
472
-8.6%
Receivables
753
705
549
+6.8%
Inventory
151
158
274
-4.6%
Other assets
3,288
2,997
21.9
+9.7%
Total assets
9,446
9,422
8,854
+0.2%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.