TE Connectivity (TEL) FY2011 results: revenue $13.8 billion, up 18.0% on the year
TE Connectivity plc (TEL) reported revenue of $13.8 billion for fiscal 2011, the year ended 30 September 2011, up 18.0% on the year before. Net income was $1.2 billion, up 12.9%, and diluted earnings per share $2.81. The figures are the company's own, from the 10-K it filed with the SEC on 18 November 2011.
Revenue
$13.8 billion
+18.0% on the year
FY2007FY2011
Operating margin
12.2%
12.4% a year earlier
FY2007FY2011
Net income
$1.2 billion
+12.9% on the year
FY2007FY2011
Diluted EPS
$2.81
+16.6% 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
13,778
11,681
10,256
+18.0%
Cost of revenue
9,507
8,038
7,720
+18.3%
Gross profit
4,271
3,643
2,536
+17.2%
Gross margin
31.0%
31.2%
24.7%
Research and development
593
461
439
+28.6%
Selling, general and administrative
1,728
1,490
1,408
+16.0%
Operating income
1,687
1,452
-3,474
+16.2%
Operating margin
12.2%
12.4%
-33.9%
Interest expense
161
155
165
+3.9%
Pre-tax income
1,575
1,494
-3,670
+5.4%
Income tax
347
476
-567
-27.1%
Effective tax rate
22.0%
31.9%
n/a
Net income
1,245
1,103
-3,265
+12.9%
Net margin
9.0%
9.4%
-31.8%
Diluted EPS
$2.81
$2.41
-$7.11
+16.6%
$ 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
1,779
1,679
1,329
+6.0%
Capital expenditure
574
380
328
+51.1%
Free cash flow
1,205
1,299
1,001
-7.2%
Free cash flow margin
8.7%
11.1%
9.8%
Cash from investing
-1,043
-442
391
Cash from financing
-1,512
-779
-1,254
Depreciation and amortisation
564
514
515
+9.7%
Share-based compensation
71.0
61.0
50.0
+16.4%
Buybacks
865
488
152
+77.3%
Dividends paid
296
289
294
+2.4%
Dividend per share
$0.68
$0.64
$0.64
+6.3%
Diluted shares, weighted
443m
457m
459m
-3.1%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
7,474
7,048
6,996
+6.0%
Non-controlling interest
10.0
8.0
10.0
+25.0%
Debt
2,669
2,413
2,417
+10.6%
Other liabilities
7,570
7,523
6,595
+0.6%
Total liabilities and equity
17,723
16,992
16,018
+4.3%
Fixed assets
3,140
2,846
3,111
+10.3%
Goodwill
3,288
2,932
3,160
+12.1%
Intangible assets
631
392
407
+61.0%
Cash and equivalents
1,219
1,990
1,521
-38.7%
Receivables
2,341
2,259
1,975
+3.6%
Inventory
1,878
1,583
1,435
+18.6%
Other assets
5,226
4,990
4,409
+4.7%
Total assets
17,723
16,992
16,018
+4.3%
10-K for the year ended 30 September 2011, filed 18 November 2011: the filing.