ADT 2012 Annual Report Download - page 7
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INCOMESTATEMENTOVERVIEW
($ in millions, except per-share amounts) FY 2012 FY 2011 Change
RECURRING CUSTOMER REVENUE $2,903 $2,765 5.0%
TOTAL REVENUE $3,228 $3,110 3.8%
NET INCOME $ 394 $ 376 4.8%
EBITDA (BEFORE SPECIAL ITEMS)* $1,609 $1,534 4.9%
EBITDA MARGIN (BEFORE SPECIAL ITEMS)* 49.8% 49.3% 50 BPS
DILUTED EPS $ 1.67 $ 1.59 5.0%
EPS (BEFORE SPECIAL ITEMS)* $ 1.74 $ 1.66 4.8%
* EBITDA, EBITDA margin and EPS in each case before special items are non-GAAP measures.
For a reconciliation to the most comparable GAAP measures, please see pages 17–18.
ADT 2012 ANNUAL REPORT 5
FIVEKEYLEVERSTREND
CUSTOMER
ADDITIONS
(Gross adds in 000’s)
597
491
FY2011
1,088
634
527
FY2012
1,161
FY2011 FY2012
Direct
Dealer
$1,157
$1,255
$1,115
$1,212
SUBSCRIBER
ACQUISITION
COST
(Per Customer)
Direct
Dealer
1 New represents ARPU for both new and resale gross additions.
2 Represents fully-loaded cost to serve expenses including
corporate expenses.
FY2011 FY2012
TENURE
(T12M Net Attrition)
13.0% 13.8%
FY2011 FY2012
Average
New
AVERAGE
REVENUE
(Per Customer)
FY2011 FY2012
Existing Base
RECURRING
REVENUE
MARGIN
(Recurring Revenue—Cost to Serve)
67.8% 67.5%
$37.24
$40.55
$42.02
$38.87