Teledyne Technologies (TDY) FY2012 results: revenue $2.1 billion, up 9.5% on the year
Teledyne Technologies Inc. (TDY) reported revenue of $2.1 billion for fiscal 2012, the year ended 30 December 2012, up 9.5% on the year before. Net income was $164 million, down 35.7%, and diluted earnings per share $4.39. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2013.
Revenue
$2.1 billion
+9.5% on the year
FY2008FY2012
Operating margin
11.4%
11.7% a year earlier
FY2008FY2012
Net income
$164 million
-35.7% on the year
FY2008FY2012
Diluted EPS
$4.39
-35.8% 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
2,127
1,942
1,644
+9.5%
Cost of revenue
1,379
1,291
1,148
+6.8%
Gross profit
748
651
496
+14.9%
Gross margin
35.2%
33.5%
30.2%
Selling, general and administrative
505
424
318
+19.1%
Operating income
243
227
178
+7.0%
Operating margin
11.4%
11.7%
10.9%
Interest expense
18.2
16.7
6.9
+9.0%
Pre-tax income
228
212
174
+7.8%
Income tax
65.4
69.5
53.6
-5.9%
Effective tax rate
28.7%
32.8%
30.9%
Net income
164
255
120
-35.7%
Net margin
7.7%
13.1%
7.3%
Diluted EPS
$4.39
$6.84
$3.27
-35.8%
$ 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
190
217
142
-12.5%
Capital expenditure
65.3
41.7
31.0
+56.6%
Free cash flow
124
175
111
-29.0%
Free cash flow margin
5.8%
9.0%
6.7%
Cash from investing
-453
-272
-101
Cash from financing
260
29.6
8.4
+779.4%
Depreciation and amortisation
78.3
64.2
45.2
+22.0%
Share-based compensation
n/a
5.8
4.7
Buybacks
0.0
34.9
n/a
Diluted shares, weighted
37m
37m
37m
+0.3%
Shares outstanding at period end
36m
36m
36m
-0.8%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,148
979
786
+17.2%
Non-controlling interest
55.6
4.8
1.0
+1,058.3%
Debt
543
298
267
+82.3%
Other liabilities
660
544
504
+21.3%
Total liabilities and equity
2,406
1,826
1,558
+31.8%
Fixed assets
350
255
203
+37.3%
Goodwill
990
718
546
+37.9%
Intangible assets
172
124
114
+38.4%
Cash and equivalents
45.8
49.4
75.1
-7.3%
Receivables
350
270
255
+29.7%
Inventory
281
219
172
+28.2%
Other assets
218
191
192
+14.1%
Total assets
2,406
1,826
1,558
+31.8%
10-K for the year ended 30 December 2012, filed 26 February 2013: the filing.