Timken (TKR) FY2012 results: revenue $3.4 billion, down 35.0% on the year
Timken Co. (TKR) reported revenue of $3.4 billion for fiscal 2012, the year ended 31 December 2012, down 35.0% on the year before. Net income was $496 million, up 9.1%, and diluted earnings per share $5.07. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2013.
Revenue
$3.4 billion
-35.0% on the year
FY2008FY2012
Operating margin
13.2%
14.1% a year earlier
FY2008FY2012
Net income
$496 million
+9.1% on the year
FY2008FY2012
Diluted EPS
$5.07
+10.5% 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
3,360
5,170
4,056
-35.0%
Cost of revenue
2,332
3,800
3,034
-38.7%
Gross profit
1,028
1,370
1,022
-24.9%
Gross margin
30.6%
26.5%
25.2%
Research and development
45.7
49.6
49.9
-7.9%
Selling, general and administrative
554
626
564
-11.5%
Operating income
444
729
436
-39.1%
Operating margin
13.2%
14.1%
10.8%
Interest expense
31.1
36.8
38.2
-15.5%
Pre-tax income
507
808
504
-37.3%
Income tax
186
240
136
-22.4%
Effective tax rate
36.7%
29.7%
27.0%
Net income
496
454
275
+9.1%
Net margin
14.7%
8.8%
6.8%
Diluted EPS
$5.07
$4.59
$2.81
+10.5%
$ 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
624
209
313
+198.0%
Capital expenditure
118
205
116
-42.4%
Free cash flow
506
4.1
197
+12,236.6%
Free cash flow margin
15.1%
0.1%
4.9%
Cash from investing
-298
-508
-153
Cash from financing
-209
-104
-32.9
Depreciation and amortisation
150
192
190
-22.3%
Share-based compensation
15.9
16.9
16.9
-5.9%
Buybacks
112
43.8
29.2
+156.4%
Dividends paid
89.0
76.0
51.3
+17.1%
Dividend per share
$0.92
$0.78
$0.53
+17.9%
Diluted shares, weighted
98m
99m
98m
-1.1%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,232
2,028
1,925
+10.1%
Non-controlling interest
14.4
14.2
16.8
+1.4%
Debt
479
515
514
-7.0%
Other liabilities
1,519
1,770
1,725
-14.2%
Total liabilities and equity
4,245
4,327
4,180
-1.9%
Fixed assets
834
1,309
1,268
-36.3%
Goodwill
326
333
224
-1.9%
Intangible assets
225
236
129
-4.7%
Cash and equivalents
586
465
877
+26.2%
Receivables
547
646
517
-15.3%
Inventory
862
964
828
-10.6%
Other assets
864
375
337
+130.3%
Total assets
4,245
4,327
4,180
-1.9%
10-K for the year ended 31 December 2012, filed 13 February 2013: the filing.