Dentsply Sirona (XRAY) FY2011 results: revenue $2.5 billion, up 14.3% on the year
Dentsply Sirona Inc. (XRAY) reported revenue of $2.5 billion for fiscal 2011, the year ended 31 December 2011, up 14.3% on the year before. Net income was $245 million, down 8.0%, and diluted earnings per share $1.70. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2012.
Revenue
$2.5 billion
+14.3% on the year
FY2007FY2011
Operating margin
11.9%
17.1% a year earlier
FY2007FY2011
Net income
$245 million
-8.0% on the year
FY2007FY2011
Diluted EPS
$1.70
-6.6% on the year
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
2,538
2,221
2,160
+14.3%
Cost of revenue
1,264
1,091
1,053
+15.9%
Gross profit
1,273
1,130
1,106
+12.7%
Gross margin
50.2%
50.9%
51.2%
Research and development
66.7
49.4
50.3
+35.0%
Selling, general and administrative
937
739
718
+26.8%
Operating income
301
380
381
-20.9%
Operating margin
11.9%
17.1%
17.6%
Interest expense
43.8
25.1
21.9
+74.6%
Pre-tax income
256
358
363
-28.4%
Income tax
11.0
89.2
88.9
-87.7%
Effective tax rate
4.3%
24.9%
24.5%
Net income
245
266
274
-8.0%
Net margin
9.6%
12.0%
12.7%
Diluted EPS
$1.70
$1.82
$1.83
-6.6%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
393
377
362
+4.2%
Capital expenditure
71.2
44.2
56.5
+60.9%
Free cash flow
322
333
306
-3.3%
Free cash flow margin
12.7%
15.0%
14.2%
Cash from investing
-1,887
-164
-53.4
Cash from financing
1,002
-103
-71.4
Depreciation and amortisation
85.0
65.9
65.2
+29.0%
Share-based compensation
20.9
18.8
16.3
+11.4%
Buybacks
79.5
224
78.7
-64.5%
Dividends paid
28.6
29.1
29.8
-1.5%
Dividend per share
$0.20
$0.20
$0.20
+2.5%
Diluted shares, weighted
144m
146m
150m
-1.7%
Shares outstanding at period end
142m
142m
147m
-0.1%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
1,848
1,839
1,832
+0.5%
Non-controlling interest
36.1
70.5
74.9
-48.9%
Short-term borrowings
n/a
n/a
15.6
Debt
1,767
612
454
+188.8%
Other liabilities
1,105
736
712
+50.0%
Total liabilities and equity
4,755
3,258
3,088
+46.0%
Fixed assets
591
423
440
+39.8%
Goodwill
2,190
1,303
1,313
+68.1%
Intangible assets
791
78.7
89.1
+904.7%
Investments
n/a
n/a
0.0
Cash and equivalents
77.1
540
450
-85.7%
Inventory
362
309
292
+17.2%
Other assets
744
604
505
+23.1%
Total assets
4,755
3,258
3,088
+46.0%
10-K for the year ended 31 December 2011, filed 24 February 2012: the filing.