AVNT FY 2011 Earnings Report — Avient Corporation Revenue & Financial Results | Market Cap Arena

Avient CorporationAVNT

FY 2011 Earnings

Reported February 17, 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	$2.9B	—	$2.6B	—	9.2%
Op. Income	$233M	—	$174M	—	33.7%
Gross Margin	16.2%	—	16.4%	—	-0.2pp
Net Margin	6.0%	—	6.2%	—	-0.2pp
EPS (Diluted)	$1.83	—	$1.69	—	8.3%
Free Cash Flow	$18M	—	$101M	—	-81.8%

Revenue Flow

Item	Amount
REVENUE	$2.9B
Cost of Revenue	$2.4B
GROSS PROFIT	$463M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$382M
Other Expenses	-$152M
Operating Expenses	$230M
Cost & Expenses	$2.6B
OPERATING INCOME	$233M
Interest Income	$0
Interest Expense	$34M
Other Income/Expenses	-$34M
INCOME BEFORE TAX	$199M
Income Tax Expense	$26M
Net Income from Continuing Ops	$173M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$173M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$173M
D&A	$58M
EBIT	$203M
EBITDA	$260M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.9B
Cost of Revenue	$2.4B
GROSS PROFIT	$463M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$382M
Other Expenses	-$152M
Operating Expenses	$230M
Cost & Expenses	$2.6B
OPERATING INCOME	$233M
Interest Income	$0
Interest Expense	$34M
Other Income/Expenses	-$34M
INCOME BEFORE TAX	$199M
Income Tax Expense	$26M
Net Income from Continuing Ops	$173M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$173M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$173M
D&A	$58M
EBIT	$203M
EBITDA	$260M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$173M
Depreciation & Amortization	$58M
Stock-Based Compensation	$5M
Deferred Income Tax	$4M
Other Non-Cash Items	-$143M
Change in Working Capital	-$24M
OPERATING CASH FLOW	$73M
Capital Expenditure	-$54M
Acquisitions (Net)	-$368M
Purchases of Investments	$0
Sales/Maturities of Investments	$140M
Other Investing Activities	-$140M
NET CASH FROM INVESTING	-$423M
Net Debt Issuance	$254M
Common Stock Repurchased	-$74M
Common Dividends Paid	-$11M
Other Financing Activities	-$6M
NET CASH FROM FINANCING	$164M
FREE CASH FLOW	$18M
Net Change in Cash	-$186M

Balance Sheet

Item	Amount
Cash & Equivalents	$192M
Short-Term Investments	$0
Net Receivables	$321M
Inventory	$245M
Other Current Assets	$85M
TOTAL CURRENT ASSETS	$844M
PP&E (Net)	$394M
Goodwill	$397M
Intangible Assets	$343M
Long-Term Investments	$0
Tax Assets	$9M
Other Non-Current Assets	$95M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$2.1B
Account Payables	$295M
Short-Term Debt	$3M
Deferred Revenue	$0
Other Current Liabilities	$55M
TOTAL CURRENT LIABILITIES	$442M
Long-Term Debt	$704M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$346M
TOTAL NON-CURRENT LIABILITIES	$1.0B
TOTAL LIABILITIES	$1.5B
Common Stock	$1M
Additional Paid-In Capital	$1.0B
Retained Earnings	-$85M
Treasury Stock	-$369M
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$588M
Minority Interest	$0
TOTAL EQUITY	$588M
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$707M
Net Debt	$515M