United Therapeutics (UTHR) FY2012 results: revenue $916 million, up 23.3% on the year
United Therapeutics Corp. (UTHR) reported revenue of $916 million for fiscal 2012, the year ended 31 December 2012, up 23.3% on the year before. Net income was $304 million, up 39.7%, and diluted earnings per share $5.71. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2013.
Revenue
$916 million
+23.3% on the year
FY2008FY2012
Operating margin
46.0%
42.8% a year earlier
FY2008FY2012
Net income
$304 million
+39.7% on the year
FY2008FY2012
Diluted EPS
$5.71
+55.6% 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
916
743
593
+23.3%
Cost of revenue
119
88.9
73.5
+34.2%
Gross profit
787
652
524
+20.6%
Gross margin
85.9%
87.8%
88.4%
Research and development
173
180
165
-3.7%
Selling, general and administrative
202
156
189
+28.9%
Operating income
422
318
171
+32.7%
Operating margin
46.0%
42.8%
28.9%
Interest expense
16.6
21.4
19.7
-22.1%
Pre-tax income
441
299
155
+47.3%
Income tax
136
81.9
43.9
+66.4%
Effective tax rate
30.9%
27.4%
28.3%
Net income
304
218
106
+39.7%
Net margin
33.2%
29.3%
17.9%
Diluted EPS
$5.71
$3.67
$1.78
+55.6%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
324
250
212
+29.4%
Capital expenditure
112
36.0
18.6
+211.0%
Free cash flow
212
214
193
-1.2%
Free cash flow margin
23.1%
28.8%
32.5%
Cash from investing
-163
-121
-209
Cash from financing
-169
-218
147
Depreciation and amortisation
27.1
20.5
17.9
+32.2%
Share-based compensation
30.1
-15.7
114
Buybacks
188
212
n/a
-11.3%
Diluted shares, weighted
53m
59m
60m
-10.3%
Shares outstanding at period end
50m
54m
58m
-6.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,084
948
884
+14.3%
Redeemable equity
10.9
n/a
n/a
Debt
276
266
305
+4.0%
Other liabilities
255
304
243
-16.0%
Total liabilities and equity
1,627
1,518
1,432
+7.1%
Fixed assets
454
366
306
+23.9%
Goodwill
10.5
8.1
2.5
+29.6%
Intangible assets
5.9
n/a
n/a
Investments
306
344
133
-11.1%
Cash and equivalents
159
168
252
-5.1%
Receivables
117
88.7
73.7
+31.5%
Inventory
37.3
46.0
35.5
-19.0%
Other assets
537
497
629
+8.1%
Total assets
1,627
1,518
1,432
+7.1%
10-K for the year ended 31 December 2012, filed 26 February 2013: the filing.