Telephone & Data Systems (TDS) FY2017 results: revenue $5.0 billion, down 2.2% on the year
Telephone & Data Systems Inc. (TDS) reported revenue of $5.0 billion for fiscal 2017, the year ended 31 December 2017, down 2.2% on the year before. Net income was $153 million, up 255.8%, and diluted earnings per share $1.37. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2018.
Revenue
$5.0 billion
-2.2% on the year
FY2010FY2017
Operating margin
-2.1%
2.1% a year earlier
FY2010FY2017
Net income
$153 million
+255.8% on the year
FY2010FY2017
Diluted EPS
$1.37
+251.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
5,044
5,155
5,210
-2.2%
Cost of revenue
2,359
2,429
2,415
-2.9%
Gross profit
2,685
2,726
2,795
-1.5%
Gross margin
53.2%
52.9%
53.6%
Selling, general and administrative
1,686
1,759
1,780
-4.2%
Operating income
-108
108
431
Operating margin
-2.1%
2.1%
8.3%
Interest expense
170
170
142
0.0%
Pre-tax income
-122
92.0
435
Income tax
-279
40.0
172
Effective tax rate
n/a
43.5%
39.6%
Net income
153
43.0
219
+255.8%
Net margin
3.0%
0.8%
4.2%
Diluted EPS
$1.37
$0.39
$1.98
+251.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
776
782
790
-0.8%
Capital expenditure
685
636
801
+7.7%
Free cash flow
91.0
146
-10.6
-37.7%
Free cash flow margin
1.8%
2.8%
-0.2%
Cash from investing
-981
-808
-743
Cash from financing
-77.0
-59.0
461
Depreciation and amortisation
817
820
810
-0.4%
Share-based compensation
46.0
42.0
40.0
+9.5%
Buybacks
0.0
3.0
0.0
Dividends paid
69.0
65.0
61.0
+6.2%
Dividend per share
$0.62
$0.59
$0.56
+5.1%
Diluted shares, weighted
112m
111m
110m
+0.9%
Shares outstanding at period end
111m
110m
109m
+0.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
4,269
4,144
4,126
+3.0%
Non-controlling interest
623
605
578
+3.0%
Redeemable equity
5.0
5.0
4.2
0.0%
Debt
2,457
2,433
2,454
+1.0%
Other liabilities
1,941
2,259
2,261
-14.1%
Total liabilities and equity
9,295
9,446
9,422
-1.6%
Fixed assets
3,424
3,555
3,764
-3.7%
Goodwill
509
766
766
-33.6%
Intangible assets
279
33.0
47.0
+745.5%
Investments
100
0.0
n/a
Cash and equivalents
619
900
985
-31.2%
Receivables
861
753
705
+14.3%
Inventory
145
151
158
-4.0%
Other assets
3,358
3,288
2,997
+2.1%
Total assets
9,295
9,446
9,422
-1.6%
10-K for the year ended 31 December 2017, filed 26 February 2018: the filing.