Vulcan Materials (VMC) FY2010 results: revenue $2.6 billion, down 4.9% on the year
Vulcan Materials Co. (VMC) reported revenue of $2.6 billion for fiscal 2010, the year ended 31 December 2010, down 4.9% on the year before. Net income was -$96 million, and diluted earnings per share $-0.75. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2011.
Revenue
$2.6 billion
-4.9% on the year
FY2007FY2010
Operating margin
-0.6%
5.5% a year earlier
FY2007FY2010
Net income
-$96 million
FY2007FY2010
Diluted EPS
-$0.75
FY2007FY2010
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Revenue
2,559
2,690
3,651
-4.9%
Cost of revenue
2,258
2,245
2,902
+0.6%
Gross profit
301
446
750
-32.6%
Gross margin
11.8%
16.6%
20.5%
Research and development
1.6
1.5
1.5
+2.7%
Selling, general and administrative
328
322
343
+1.8%
Operating income
-14.5
148
249
Operating margin
-0.6%
5.5%
6.8%
Interest expense
182
175
173
+3.6%
Pre-tax income
-192
-19.2
75.1
Income tax
-89.7
-37.9
71.7
Effective tax rate
n/a
n/a
95.5%
Net income
-96.5
30.3
0.9
Net margin
-3.8%
1.1%
0.0%
Diluted EPS
-$0.75
$0.25
$0.01
$ 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
FY2010
FY2009
FY2008
On the year
Last 8 years
Operating cash flow
203
453
435
-55.3%
Capital expenditure
86.3
110
353
-21.3%
Free cash flow
116
343
82.0
-66.1%
Free cash flow margin
4.5%
12.8%
2.2%
Cash from investing
-88.4
-80.0
-189
Cash from financing
-89.1
-361
-271
Depreciation and amortisation
382
395
389
-3.2%
Share-based compensation
20.6
23.1
19.1
-10.7%
Buybacks
n/a
0.0
0.0
Dividends paid
128
171
215
-25.5%
Dividend per share
$1.00
$1.48
$1.96
-32.4%
Diluted shares, weighted
128m
119m
111m
+7.2%
Balance sheet
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Shareholders' equity
3,956
4,028
3,530
-1.8%
Short-term borrowings
n/a
237
1,082
Debt
2,718
2,502
2,465
+8.7%
Other liabilities
1,664
1,767
1,837
-5.8%
Total liabilities and equity
8,338
8,533
8,914
-2.3%
Fixed assets
3,633
3,875
4,156
-6.2%
Goodwill
3,097
3,094
3,083
+0.1%
Intangible assets
692
683
674
+1.3%
Investments
0.0
4.1
36.7
Cash and equivalents
47.5
22.3
10.2
+113.5%
Receivables
261
268
357
-2.7%
Inventory
320
325
364
-1.6%
Other assets
288
262
233
+9.9%
Total assets
8,338
8,533
8,914
-2.3%
10-K for the year ended 31 December 2010, filed 28 February 2011: the filing.