Vertex Pharmaceuticals (VRTX) FY2012 results: revenue $1.5 billion, up 8.3% on the year
Vertex Pharmaceuticals Inc. (VRTX) reported revenue of $1.5 billion for fiscal 2012, the year ended 31 December 2012, up 8.3% on the year before. Net income was -$107 million, and diluted earnings per share $-0.50. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2013.
Revenue
$1.5 billion
+8.3% on the year
FY2008FY2012
Operating margin
3.1%
8.1% a year earlier
FY2008FY2012
Net income
-$107 million
FY2008FY2012
Diluted EPS
-$0.50
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
1,527
1,411
143
+8.3%
Cost of revenue
237
63.6
0.0
+272.1%
Gross profit
1,290
1,347
143
-4.2%
Gross margin
84.5%
95.5%
100.0%
Research and development
766
708
637
+8.2%
Selling, general and administrative
433
401
188
+8.0%
Operating income
46.7
114
-696
-58.9%
Operating margin
3.1%
8.1%
-485.5%
Interest expense
16.7
38.5
19.3
-56.7%
Pre-tax income
32.0
60.4
-755
-47.1%
Income tax
-0.3
19.3
0.0
Effective tax rate
-0.9%
31.9%
n/a
Net income
-107
29.6
-755
Net margin
-7.0%
2.1%
-526.3%
Diluted EPS
-$0.50
$0.14
-$3.77
$ 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
268
144
-635
+86.3%
Capital expenditure
71.1
34.6
38.1
+105.6%
Free cash flow
197
109
-673
+80.2%
Free cash flow margin
12.9%
7.7%
-469.8%
Cash from investing
n/a
n/a
7.3
Cash from financing
n/a
n/a
425
Depreciation and amortisation
38.2
35.0
30.5
+9.0%
Share-based compensation
114
118
91.1
-3.3%
Diluted shares, weighted
212m
209m
200m
+1.5%
Shares outstanding at period end
217m
209m
204m
+3.8%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
999
787
504
+27.0%
Non-controlling interest
197
142
n/a
+38.9%
Debt
400
400
400
0.0%
Other liabilities
1,163
876
821
+32.8%
Total liabilities and equity
2,759
2,204
1,725
+25.2%
Fixed assets
434
133
72.3
+225.6%
Goodwill
31.0
31.0
26.1
0.0%
Investments
832
494
788
+68.5%
Cash and equivalents
489
475
243
+3.0%
Receivables
143
183
12.5
-21.8%
Inventory
30.5
112
n/a
-72.9%
Other assets
800
776
583
+3.1%
Total assets
2,759
2,204
1,725
+25.2%
10-K for the year ended 31 December 2012, filed 1 March 2013: the filing.