Vulcan Materials (VMC) FY2011 results: revenue $2.6 billion, up 0.2% on the year
Vulcan Materials Co. (VMC) reported revenue of $2.6 billion for fiscal 2011, the year ended 31 December 2011, up 0.2% on the year before. Net income was -$71 million, and diluted earnings per share $-0.55. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2012.
Revenue
$2.6 billion
+0.2% on the year
FY2007FY2011
Operating margin
2.5%
-0.6% a year earlier
FY2007FY2011
Net income
-$71 million
FY2007FY2011
Diluted EPS
-$0.55
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
2,565
2,559
2,690
+0.2%
Cost of revenue
2,281
2,258
2,245
+1.0%
Gross profit
284
301
446
-5.6%
Gross margin
11.1%
11.8%
16.6%
Research and development
1.1
1.6
1.5
-29.9%
Selling, general and administrative
290
328
322
-11.5%
Operating income
63.4
-14.5
148
Operating margin
2.5%
-0.6%
5.5%
Interest expense
221
182
175
+21.5%
Pre-tax income
-154
-192
-19.2
Income tax
-78.5
-89.7
-37.9
Net income
-70.8
-96.5
30.3
Net margin
-2.8%
-3.8%
1.1%
Diluted EPS
-$0.55
-$0.75
$0.25
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
169
203
453
-16.6%
Capital expenditure
98.9
86.3
110
+14.6%
Free cash flow
70.1
116
343
-39.7%
Free cash flow margin
2.7%
4.5%
12.8%
Cash from investing
-19.5
-88.4
-80.0
Cash from financing
-41.3
-89.1
-361
Depreciation and amortisation
362
382
395
-5.3%
Share-based compensation
18.5
20.6
23.1
-10.6%
Buybacks
n/a
n/a
0.0
Dividends paid
98.2
128
171
-23.2%
Dividend per share
$0.76
$1.00
$1.48
-24.0%
Diluted shares, weighted
129m
128m
119m
+1.0%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
3,792
3,956
4,028
-4.2%
Short-term borrowings
0.0
n/a
237
Debt
2,815
2,718
2,502
+3.6%
Other liabilities
1,622
1,664
1,767
-2.5%
Total liabilities and equity
8,229
8,338
8,533
-1.3%
Fixed assets
3,418
3,633
3,875
-5.9%
Goodwill
3,087
3,097
3,094
-0.3%
Intangible assets
698
692
683
+0.8%
Investments
n/a
0.0
4.1
Cash and equivalents
156
47.5
22.3
+227.8%
Receivables
299
261
268
+14.7%
Inventory
328
320
325
+2.4%
Other assets
244
288
262
-15.2%
Total assets
8,229
8,338
8,533
-1.3%
10-K for the year ended 31 December 2011, filed 29 February 2012: the filing.