ANDE FY 2007 Earnings Report — The Andersons, Inc. Revenue & Financial Results | Market Cap Arena

The Andersons, Inc.ANDE

FY 2007 Earnings

Reported February 28, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$2.4B	—	$1.5B	—	63.2%
Op. Income	$70M	—	$49M	—	43.8%
Gross Margin	10.1%	—	14.2%	—	-4.1pp
Net Margin	2.9%	—	2.5%	—	0.4pp
EPS (Diluted)	$2.50	—	$1.46	—	71.2%
Free Cash Flow	-$241M	—	-$165M	—	-46.1%

Revenue Flow

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$2.1B
GROSS PROFIT	$240M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$169M
Other Expenses	$0
Operating Expenses	$170M
Cost & Expenses	$2.3B
OPERATING INCOME	$70M
Interest Income	$0
Interest Expense	$19M
Other Income/Expenses	$35M
INCOME BEFORE TAX	$106M
Income Tax Expense	$37M
Net Income from Continuing Ops	$69M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$69M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$69M
D&A	$26M
EBIT	$124M
EBITDA	$150M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$2.1B
GROSS PROFIT	$240M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$169M
Other Expenses	$0
Operating Expenses	$170M
Cost & Expenses	$2.3B
OPERATING INCOME	$70M
Interest Income	$0
Interest Expense	$19M
Other Income/Expenses	$35M
INCOME BEFORE TAX	$106M
Income Tax Expense	$37M
Net Income from Continuing Ops	$69M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$69M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$69M
D&A	$26M
EBIT	$124M
EBITDA	$150M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$69M
Depreciation & Amortization	$26M
Stock-Based Compensation	$4M
Deferred Income Tax	$5M
Other Non-Cash Items	-$37M
Change in Working Capital	-$228M
OPERATING CASH FLOW	-$164M
Capital Expenditure	-$76M
Acquisitions (Net)	$0
Purchases of Investments	-$36M
Sales/Maturities of Investments	$0
Other Investing Activities	$49M
NET CASH FROM INVESTING	-$64M
Net Debt Issuance	$202M
Common Stock Repurchased	$0
Common Dividends Paid	-$4M
Other Financing Activities	$25M
NET CASH FROM FINANCING	$227M
FREE CASH FLOW	-$241M
Net Change in Cash	-$1M

Balance Sheet

Item	Amount
Cash & Equivalents	$22M
Short-Term Investments	$0
Net Receivables	$106M
Inventory	$503M
Other Current Assets	$235M
TOTAL CURRENT ASSETS	$915M
PP&E (Net)	$100M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$119M
Tax Assets	$3M
Other Non-Current Assets	$320M
TOTAL NON-CURRENT ASSETS	$420M
TOTAL ASSETS	$1.3B
Account Payables	$258M
Short-Term Debt	$269M
Deferred Revenue	$39M
Other Current Liabilities	$122M
TOTAL CURRENT LIABILITIES	$737M
Long-Term Debt	$189M
Deferred Revenue NC	$6M
Deferred Tax Liabilities	$25M
Other Non-Current Liabilities	$21M
TOTAL NON-CURRENT LIABILITIES	$241M
TOTAL LIABILITIES	$978M
Common Stock	$96.0K
Additional Paid-In Capital	$168M
Retained Earnings	$200M
Treasury Stock	-$17M
Accum. Other Comp. Income	-$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$344M
Minority Interest	$12M
TOTAL EQUITY	$357M
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$459M
Net Debt	$436M