APA FY 2008 Earnings Report — APA Corporation Revenue & Financial Results | Market Cap Arena

APA CorporationAPA

FY 2008 Earnings

Reported March 2, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$12.4B	—	$10.0B	—	24.4%
Op. Income	$1.2B	—	$5.0B	—	-76.0%
Gross Margin	83.3%	—	81.7%	—	1.6pp
Net Margin	5.7%	—	28.2%	—	-22.5pp
EPS (Diluted)	$2.09	—	$8.39	—	-75.1%
Free Cash Flow	$1.1B	—	$875M	—	24.8%

Revenue Flow

Item	Amount
REVENUE	$12.4B
Cost of Revenue	$2.1B
GROSS PROFIT	$10.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$289M
SG&A Expenses	$289M
Other Expenses	$8.8B
Operating Expenses	$9.1B
Cost & Expenses	$11.2B
OPERATING INCOME	$1.2B
Interest Income	$24M
Interest Expense	$280M
Other Income/Expenses	-$257M
INCOME BEFORE TAX	$932M
Income Tax Expense	$220M
Net Income from Continuing Ops	$712M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$712M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$706M
D&A	$7.9B
EBIT	$1.2B
EBITDA	$9.1B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$12.4B
Cost of Revenue	$2.1B
GROSS PROFIT	$10.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$289M
SG&A Expenses	$289M
Other Expenses	$8.8B
Operating Expenses	$9.1B
Cost & Expenses	$11.2B
OPERATING INCOME	$1.2B
Interest Income	$24M
Interest Expense	$280M
Other Income/Expenses	-$257M
INCOME BEFORE TAX	$932M
Income Tax Expense	$220M
Net Income from Continuing Ops	$712M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$712M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$706M
D&A	$7.9B
EBIT	$1.2B
EBITDA	$9.1B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$712M
Depreciation & Amortization	$7.9B
Stock-Based Compensation	$0
Deferred Income Tax	-$1.2B
Other Non-Cash Items	$51M
Change in Working Capital	-$312M
OPERATING CASH FLOW	$7.1B
Capital Expenditure	-$6.0B
Acquisitions (Net)	$0
Purchases of Investments	-$792M
Sales/Maturities of Investments	$0
Other Investing Activities	$1.0B
NET CASH FROM INVESTING	-$5.7B
Net Debt Issuance	$696M
Common Stock Repurchased	$0
Common Dividends Paid	-$239M
Other Financing Activities	-$760M
NET CASH FROM FINANCING	-$267M
FREE CASH FLOW	$1.1B
Net Change in Cash	$1.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.2B
Short-Term Investments	$792M
Net Receivables	$1.4B
Inventory	$499M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.5B
PP&E (Net)	$24.0B
Goodwill	$189M
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$588M
TOTAL NON-CURRENT ASSETS	$24.7B
TOTAL ASSETS	$29.2B
Account Payables	$549M
Short-Term Debt	$113M
Deferred Revenue	$0
Other Current Liabilities	$1.8B
TOTAL CURRENT LIABILITIES	$2.6B
Long-Term Debt	$4.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$3.2B
Other Non-Current Liabilities	$2.1B
TOTAL NON-CURRENT LIABILITIES	$10.1B
TOTAL LIABILITIES	$12.7B
Common Stock	$214M
Additional Paid-In Capital	$4.5B
Retained Earnings	$11.9B
Treasury Stock	-$228M
Accum. Other Comp. Income	$22M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$16.5B
Minority Interest	$0
TOTAL EQUITY	$16.5B
TOTAL LIABILITIES & EQUITY	$29.2B
Total Debt	$4.9B
Net Debt	$3.7B