Tapestry (TPR) FY2012 results: revenue $4.8 billion, up 14.5% on the year
Tapestry, Inc. (TPR) reported revenue of $4.8 billion for fiscal 2012, the year ended 30 June 2012, up 14.5% on the year before. Net income was $1.0 billion, up 18.0%, and diluted earnings per share $3.53. The figures are the company's own, from the 10-K it filed with the SEC on 22 August 2012.
Revenue
$4.8 billion
+14.5% on the year
FY2008FY2012
Operating margin
31.7%
31.4% a year earlier
FY2008FY2012
Net income
$1.0 billion
+18.0% on the year
FY2008FY2012
Diluted EPS
$3.53
+20.9% 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
4,763
4,159
3,608
+14.5%
Cost of revenue
1,297
1,135
974
+14.3%
Gross profit
3,466
3,024
2,634
+14.6%
Gross margin
72.8%
72.7%
73.0%
Selling, general and administrative
1,954
1,719
1,484
+13.7%
Operating income
1,512
1,305
1,150
+15.9%
Operating margin
31.7%
31.4%
31.9%
Pre-tax income
1,506
1,301
1,158
+15.7%
Income tax
467
420
423
+11.0%
Effective tax rate
31.0%
32.3%
36.5%
Net income
1,039
881
735
+18.0%
Net margin
21.8%
21.2%
20.4%
Diluted EPS
$3.53
$2.92
$2.33
+20.9%
$ 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
1,222
1,033
991
+18.2%
Capital expenditure
184
148
81.1
+24.7%
Free cash flow
1,037
886
910
+17.1%
Free cash flow margin
21.8%
21.3%
25.2%
Cash from investing
-259
-59.6
-182
Cash from financing
-742
-875
-1,020
Depreciation and amortisation
133
125
127
+6.2%
Share-based compensation
108
95.8
81.4
+12.2%
Buybacks
700
1,098
1,150
-36.2%
Dividends paid
260
178
94.3
+46.1%
Dividend per share
$0.98
$0.68
n/a
+44.1%
Diluted shares, weighted
294m
302m
316m
-2.5%
Shares outstanding at period end
285m
289m
297m
-1.2%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,993
1,613
1,505
+23.6%
Debt
23.4
24.2
24.9
-3.3%
Other liabilities
1,088
998
937
+9.0%
Total liabilities and equity
3,104
2,635
2,467
+17.8%
Fixed assets
644
582
548
+10.7%
Goodwill
376
331
306
+13.6%
Intangible assets
9.8
9.8
9.8
0.0%
Investments
6.0
2.3
106
+166.0%
Cash and equivalents
917
700
596
+31.1%
Receivables
174
143
109
+22.1%
Inventory
504
422
363
+19.6%
Other assets
472
445
428
+6.0%
Total assets
3,104
2,635
2,467
+17.8%
10-K for the year ended 30 June 2012, filed 22 August 2012: the filing.