TE Connectivity (TEL) FY2012 results: revenue $13.3 billion, down 3.6% on the year
TE Connectivity plc (TEL) reported revenue of $13.3 billion for fiscal 2012, the year ended 28 September 2012, down 3.6% on the year before. Net income was $1.1 billion, down 10.7%, and diluted earnings per share $2.59. The figures are the company's own, from the 10-K it filed with the SEC on 13 November 2012.
Revenue
$13.3 billion
-3.6% on the year
FY2007FY2012
Operating margin
11.4%
12.2% a year earlier
FY2007FY2012
Net income
$1.1 billion
-10.7% on the year
FY2007FY2012
Diluted EPS
$2.59
-7.8% on the year
FY2007FY2012
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
13,282
13,778
11,681
-3.6%
Cost of revenue
9,236
9,507
8,038
-2.9%
Gross profit
4,046
4,271
3,643
-5.3%
Gross margin
30.5%
31.0%
31.2%
Research and development
595
593
461
+0.3%
Selling, general and administrative
1,685
1,728
1,490
-2.5%
Operating income
1,518
1,687
1,452
-10.0%
Operating margin
11.4%
12.2%
12.4%
Interest expense
176
161
155
+9.3%
Pre-tax income
1,415
1,575
1,494
-10.2%
Income tax
249
347
476
-28.2%
Effective tax rate
17.6%
22.0%
31.9%
Net income
1,112
1,245
1,103
-10.7%
Net margin
8.4%
9.0%
9.4%
Diluted EPS
$2.59
$2.81
$2.41
-7.8%
$ 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
1,947
1,779
1,679
+9.4%
Capital expenditure
533
574
380
-7.1%
Free cash flow
1,414
1,205
1,299
+17.3%
Free cash flow margin
10.6%
8.7%
11.1%
Cash from investing
-1,510
-1,043
-442
Cash from financing
-65.0
-1,512
-779
Depreciation and amortisation
609
564
514
+8.0%
Share-based compensation
68.0
71.0
61.0
-4.2%
Buybacks
185
865
488
-78.6%
Dividends paid
332
296
289
+12.2%
Dividend per share
$0.78
$0.68
$0.64
+14.7%
Diluted shares, weighted
430m
443m
457m
-2.9%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
7,971
7,474
7,048
+6.6%
Non-controlling interest
6.0
10.0
8.0
-40.0%
Debt
3,711
2,669
2,413
+39.0%
Other liabilities
7,618
7,570
7,523
+0.6%
Total liabilities and equity
19,306
17,723
16,992
+8.9%
Fixed assets
3,213
3,140
2,846
+2.3%
Goodwill
4,308
3,288
2,932
+31.0%
Intangible assets
1,352
631
392
+114.3%
Cash and equivalents
1,589
1,219
1,990
+30.4%
Receivables
2,343
2,341
2,259
+0.1%
Inventory
1,808
1,878
1,583
-3.7%
Other assets
4,693
5,226
4,990
-10.2%
Total assets
19,306
17,723
16,992
+8.9%
10-K for the year ended 28 September 2012, filed 13 November 2012: the filing.