AVNT FY 2010 Earnings Report — Avient Corporation Revenue & Financial Results | Market Cap Arena

Avient CorporationAVNT

FY 2010 Earnings

Reported February 18, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$2.6B	—	$2.1B	—	27.2%
Op. Income	$174M	—	$80M	—	117.6%
Gross Margin	16.4%	—	15.6%	—	0.7pp
Net Margin	6.2%	—	2.4%	—	3.8pp
EPS (Diluted)	$1.69	—	$0.53	—	218.9%
Free Cash Flow	$101M	—	$198M	—	-48.8%

Revenue Flow

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$2.2B
GROSS PROFIT	$429M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$297M
Other Expenses	-$42M
Operating Expenses	$255M
Cost & Expenses	$2.4B
OPERATING INCOME	$174M
Interest Income	$0
Interest Expense	$32M
Other Income/Expenses	-$63M
INCOME BEFORE TAX	$111M
Income Tax Expense	-$52M
Net Income from Continuing Ops	$163M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$163M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$163M
D&A	$55M
EBIT	$143M
EBITDA	$230M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$2.2B
GROSS PROFIT	$429M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$297M
Other Expenses	-$42M
Operating Expenses	$255M
Cost & Expenses	$2.4B
OPERATING INCOME	$174M
Interest Income	$0
Interest Expense	$32M
Other Income/Expenses	-$63M
INCOME BEFORE TAX	$111M
Income Tax Expense	-$52M
Net Income from Continuing Ops	$163M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$163M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$163M
D&A	$55M
EBIT	$143M
EBITDA	$230M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$163M
Depreciation & Amortization	$55M
Stock-Based Compensation	$4M
Deferred Income Tax	-$69M
Other Non-Cash Items	$13M
Change in Working Capital	-$25M
OPERATING CASH FLOW	$141M
Capital Expenditure	-$40M
Acquisitions (Net)	$38M
Purchases of Investments	-$82M
Sales/Maturities of Investments	$41M
Other Investing Activities	$41M
NET CASH FROM INVESTING	-$2M
Net Debt Issuance	$8M
Common Stock Repurchased	$0
Common Dividends Paid	-$24M
Other Financing Activities	$32M
NET CASH FROM FINANCING	$16M
FREE CASH FLOW	$101M
Net Change in Cash	$155M

Balance Sheet

Item	Amount
Cash & Equivalents	$378M
Short-Term Investments	$0
Net Receivables	$295M
Inventory	$211M
Other Current Assets	$55M
TOTAL CURRENT ASSETS	$939M
PP&E (Net)	$374M
Goodwill	$164M
Intangible Assets	$68M
Long-Term Investments	$3M
Tax Assets	$60M
Other Non-Current Assets	$64M
TOTAL NON-CURRENT ASSETS	$733M
TOTAL ASSETS	$1.7B
Account Payables	$269M
Short-Term Debt	$20M
Deferred Revenue	$0
Other Current Liabilities	$50M
TOTAL CURRENT LIABILITIES	$435M
Long-Term Debt	$433M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$288M
TOTAL NON-CURRENT LIABILITIES	$721M
TOTAL LIABILITIES	$1.2B
Common Stock	$1M
Additional Paid-In Capital	$1.1B
Retained Earnings	-$67M
Treasury Stock	-$306M
Accum. Other Comp. Income	-$172M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$516M
Minority Interest	$0
TOTAL EQUITY	$516M
TOTAL LIABILITIES & EQUITY	$1.7B
Total Debt	$453M
Net Debt	$75M