Wolverine World Wide (WWW) FY2012 results: revenue $1.6 billion, up 16.4% on the year
Wolverine World Wide Inc. (WWW) reported revenue of $1.6 billion for fiscal 2012, the year ended 29 December 2012, up 16.4% on the year before. Net income was $81 million, down 34.6%, and diluted earnings per share $0.81. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2014.
Revenue
$1.6 billion
+16.4% on the year
FY2008FY2012
Operating margin
6.9%
12.1% a year earlier
FY2008FY2012
Net income
$81 million
-34.6% on the year
FY2008FY2012
Diluted EPS
$0.81
-34.3% 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
1,641
1,409
1,249
+16.4%
Cost of revenue
1,008
852
755
+18.3%
Gross profit
628
557
493
+12.8%
Gross margin
38.3%
39.5%
39.5%
Selling, general and administrative
482
387
347
+24.7%
Operating income
114
170
142
-33.2%
Operating margin
6.9%
12.1%
11.4%
Interest expense
14.6
1.4
0.6
+942.6%
Pre-tax income
94.2
169
143
-44.2%
Income tax
13.4
45.6
38.8
-70.6%
Effective tax rate
14.2%
27.0%
27.1%
Net income
80.7
123
104
-34.6%
Net margin
4.9%
8.7%
8.4%
Diluted EPS
$0.81
$1.24
$1.05
-34.3%
$ 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
91.6
78.8
67.9
+16.3%
Capital expenditure
14.9
19.4
16.4
-23.2%
Free cash flow
76.7
59.4
51.5
+29.2%
Free cash flow margin
4.7%
4.2%
4.1%
Cash from investing
-1,246
-22.6
-17.1
Cash from financing
1,183
-62.3
-59.1
Depreciation and amortisation
27.7
15.9
n/a
+74.2%
Share-based compensation
15.0
14.1
11.5
+6.5%
Buybacks
2.4
67.4
52.2
-96.4%
Dividends paid
23.6
22.7
21.4
+3.8%
Dividend per share
$0.12
n/a
n/a
Diluted shares, weighted
97m
97m
98m
-0.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
642
579
544
+11.0%
Non-controlling interest
1.3
n/a
n/a
Debt
1,250
0.5
1.0
+249,900.0%
Other liabilities
721
273
242
+164.5%
Total liabilities and equity
2,614
852
787
+207.0%
Fixed assets
150
78.5
74.4
+90.8%
Goodwill
460
38.9
39.0
+1,082.5%
Intangible assets
153
1.2
n/a
+12,689.8%
Cash and equivalents
171
140
150
+22.4%
Receivables
354
220
196
+60.8%
Inventory
466
232
209
+101.2%
Other assets
860
141
118
+508.3%
Total assets
2,614
852
787
+207.0%
10-K for the year ended 29 December 2012, filed 25 February 2014: the filing.