ARCO FY 2011 Earnings Report — Arcos Dorados Holdings Inc. Revenue & Financial Results | Market Cap Arena

Arcos Dorados Holdings Inc.ARCO

FY 2011 Earnings

Reported April 18, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$3.7B	—	$3.0B	—	21.2%
Op. Income	$251M	—	$205M	—	22.6%
Gross Margin	17.8%	—	17.2%	—	0.6pp
Net Margin	3.2%	—	3.5%	—	-0.4pp
EPS (Diluted)	$0.53	—	$0.50	—	6.0%
Free Cash Flow	-$58M	—	$88M	—	-166.0%

Revenue Flow

Item	Amount
REVENUE	$3.7B
Cost of Revenue	$3.0B
GROSS PROFIT	$652M
R&D Expenses	$0
Selling & Marketing	$51M
General & Administrative	$335M
SG&A Expenses	$386M
Other Expenses	$401M
Operating Expenses	$401M
Cost & Expenses	$3.4B
OPERATING INCOME	$251M
Interest Income	$0
Interest Expense	$61M
Other Income/Expenses	-$90M
INCOME BEFORE TAX	$160M
Income Tax Expense	$45M
Net Income from Continuing Ops	$116M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$116M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$116M
D&A	$72M
EBIT	$221M
EBITDA	$290M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.7B
Cost of Revenue	$3.0B
GROSS PROFIT	$652M
R&D Expenses	$0
Selling & Marketing	$51M
General & Administrative	$335M
SG&A Expenses	$386M
Other Expenses	$401M
Operating Expenses	$401M
Cost & Expenses	$3.4B
OPERATING INCOME	$251M
Interest Income	$0
Interest Expense	$61M
Other Income/Expenses	-$90M
INCOME BEFORE TAX	$160M
Income Tax Expense	$45M
Net Income from Continuing Ops	$116M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$116M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$116M
D&A	$72M
EBIT	$221M
EBITDA	$290M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$116M
Depreciation & Amortization	$72M
Stock-Based Compensation	$0
Deferred Income Tax	-$3M
Other Non-Cash Items	$156M
Change in Working Capital	$8M
OPERATING CASH FLOW	$262M
Capital Expenditure	-$320M
Acquisitions (Net)	-$6M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$6M
NET CASH FROM INVESTING	-$320M
Net Debt Issuance	$92M
Common Stock Repurchased	$0
Common Dividends Paid	-$57M
Other Financing Activities	-$152M
NET CASH FROM FINANCING	$36M
FREE CASH FLOW	-$58M
Net Change in Cash	-$32M

Balance Sheet

Item	Amount
Cash & Equivalents	$176M
Short-Term Investments	$0
Net Receivables	$144M
Inventory	$51M
Other Current Assets	$88M
TOTAL CURRENT ASSETS	$589M
PP&E (Net)	$1.0B
Goodwill	$18M
Intangible Assets	$41M
Long-Term Investments	$0
Tax Assets	$143M
Other Non-Current Assets	$62M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$1.9B
Account Payables	$184M
Short-Term Debt	$4M
Deferred Revenue	$400M
Other Current Liabilities	$86M
TOTAL CURRENT LIABILITIES	$589M
Long-Term Debt	$526M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$5M
Other Non-Current Liabilities	$76M
TOTAL NON-CURRENT LIABILITIES	$606M
TOTAL LIABILITIES	$1.2B
Common Stock	$485M
Additional Paid-In Capital	$6M
Retained Earnings	$337M
Treasury Stock	$0
Accum. Other Comp. Income	-$148M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$679M
Minority Interest	$1M
TOTAL EQUITY	$680M
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$530M
Net Debt	$353M