Tennant (TNC) FY2012 results: revenue $739 million, down 2.0% on the year
Tennant Co. (TNC) reported revenue of $739 million for fiscal 2012, the year ended 31 December 2012, down 2.0% on the year before. Net income was $42 million, up 27.1%, and diluted earnings per share $2.18. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2013.
Revenue
$739 million
-2.0% on the year
FY2009FY2012
Operating margin
8.5%
6.6% a year earlier
FY2009FY2012
Net income
$42 million
+27.1% on the year
FY2009FY2012
Diluted EPS
$2.18
+29.0% on the year
FY2009FY2012
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
739
754
668
-2.0%
Cost of revenue
414
435
383
-4.9%
Gross profit
325
319
284
+1.9%
Gross margin
44.0%
42.3%
42.6%
Research and development
29.3
27.9
26.0
+4.8%
Selling, general and administrative
234
242
221
-3.1%
Operating income
62.7
49.6
37.1
+26.3%
Operating margin
8.5%
6.6%
5.6%
Interest expense
2.5
2.2
1.6
+12.5%
Pre-tax income
59.9
48.7
34.7
+22.9%
Income tax
18.3
16.0
-0.1
+14.3%
Effective tax rate
30.6%
32.9%
-0.2%
Net income
41.6
32.7
34.8
+27.1%
Net margin
5.6%
4.3%
5.2%
Diluted EPS
$2.18
$1.69
$1.80
+29.0%
$ 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
47.6
56.9
42.5
-16.4%
Capital expenditure
15.6
13.9
10.5
+12.4%
Free cash flow
31.9
43.0
32.0
-25.7%
Free cash flow margin
4.3%
5.7%
4.8%
Cash from investing
-11.2
-19.5
-10.0
Cash from financing
-34.9
-24.2
-10.3
Depreciation and amortisation
20.9
21.4
21.2
-2.5%
Share-based compensation
9.1
5.4
4.6
+68.2%
Buybacks
25.3
17.6
3.2
+44.0%
Dividends paid
12.8
12.9
11.2
-0.3%
Dividend per share
$0.69
$0.68
$0.59
+1.5%
Diluted shares, weighted
19m
19m
19m
-1.3%
Shares outstanding at period end
18m
19m
19m
-3.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
235
221
216
+6.4%
Debt
32.3
32.3
30.8
+0.1%
Other liabilities
153
171
157
-10.4%
Total liabilities and equity
421
424
404
-0.8%
Fixed assets
86.2
87.2
87.6
-1.1%
Goodwill
19.7
20.3
20.4
-2.9%
Intangible assets
21.4
23.8
25.3
-10.0%
Cash and equivalents
53.9
52.3
39.5
+3.1%
Receivables
131
124
n/a
+6.1%
Inventory
58.1
65.9
61.7
-11.8%
Other assets
49.9
50.9
169
-1.9%
Total assets
421
424
404
-0.8%
10-K for the year ended 31 December 2012, filed 22 February 2013: the filing.