Leucadia National Corporation
) posted its financial results for the fourth quarter and full
year 2012 on Feb 25, 2013. Net results were impressive as
earnings per share came in at $1.83 in the fourth quarter,
compared with 46 cents earned in the year-ago quarter.
In 2012, earnings per share were $3.45, up compared with 5 cents
reported in 2011.
In 2012, consolidated revenue and other income were $9,193.7
million compared with $1,434.6 million in 2011. The
year-over-year increase was primarily due to the inclusion of
revenue contribution from National Beef Packaging Company, LLC,
in which Leucadia acquired a controlling interest in Dec 2011.
During the year, revenue from the Beef Processing Services
segment accounted for 81.4% of total revenue and settled at
roughly $7.5 billion. Revenue from the Manufacturing segment was
approximately $252.9 million, up 3.2% year over year and
accounted for about 2.8% of total revenue.
Revenue generated from the Gaming Entertainment Operations
segment was roughly 1.3% of total revenue, and stood at $119.3
million, while revenue of $10.9 million from the Domestic Real
Estate segment accounted for 0.12% of total revenue.
Revenue from the Medical Product Development segment was $377
thousand compared with $378 thousand in the year-ago quarter.
Proceeds from Other operations were $69.6 million versus $69.0
million in 2011 and accounted for about 0.8% of total revenue,
while the Corporate segment revenue of $1,259.6 million accounted
for about 13.7% of total revenue.
Expenses increased from a mere $757.2 million in 2011 to $8.2
billion in 2012. The massive increase stems from $7.3 billion
cost of sale related to the company's beef processing services.
In relation to revenue, expenses represented 89.5% compared with
52.8% in 2011.
Exiting the fourth quarter 2012, Leucadia's cash and cash
equivalents stood at roughly $146.0 million, way below $772.1
million in the previous quarter. Long-term debt balance was at
$918.1 million compared with $911.8 million at the end of the
Cash flow from operating activities was roughly $221.9 million
compared with just $9.1 million in 2011. Spending on property,
equipment and leasehold improvements increased drastically in
2012 and totaled $71.3 million compared with $38.6 million in
Dividends paid amounted to $61.1 million, while no shares were
repurchased during the year. Exiting 2012, the company was left
with 25 million shares under its repurchase
Leucadia is engaged in beef processing, manufacturing, gaming
entertainment, real estate activities, medical product
development operations and various other investment-related
activities in the United States. Other major players in the
China Merchants Holdings (International) Company
Jardine Strategic Holdings Ltd
Koninklijke KPN N.V.
), each with a Zacks Rank #1 (Strong Buy).
CHINA MERCHANTS (CMHHY): Get Free Report
JARDINE STRATEG (JSHLY): Get Free Report
KONIN KPN NV (KKPNF): Get Free Report
LEUCADIA NATL (LUK): Free Stock Analysis
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