AVNT FY 2012 Earnings Report — Avient Corporation Revenue & Financial Results | Market Cap Arena

Avient CorporationAVNT

FY 2012 Earnings

Reported February 12, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$3.0B	—	$2.9B	—	4.5%
Op. Income	$167M	—	$233M	—	-28.3%
Gross Margin	18.9%	—	16.2%	—	2.7pp
Net Margin	2.4%	—	6.0%	—	-3.6pp
EPS (Diluted)	$0.80	—	$1.83	—	-56.3%
Free Cash Flow	$50M	—	$18M	—	169.0%

Revenue Flow

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$2.4B
GROSS PROFIT	$564M
R&D Expenses	$41M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$421M
Other Expenses	-$3M
Operating Expenses	$421M
Cost & Expenses	$2.8B
OPERATING INCOME	$167M
Interest Income	$0
Interest Expense	$51M
Other Income/Expenses	-$54M
INCOME BEFORE TAX	$113M
Income Tax Expense	$41M
Net Income from Continuing Ops	$72M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$72M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$72M
D&A	$70M
EBIT	$134M
EBITDA	$204M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$2.4B
GROSS PROFIT	$564M
R&D Expenses	$41M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$421M
Other Expenses	-$3M
Operating Expenses	$421M
Cost & Expenses	$2.8B
OPERATING INCOME	$167M
Interest Income	$0
Interest Expense	$51M
Other Income/Expenses	-$54M
INCOME BEFORE TAX	$113M
Income Tax Expense	$41M
Net Income from Continuing Ops	$72M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$72M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$72M
D&A	$70M
EBIT	$134M
EBITDA	$204M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$72M
Depreciation & Amortization	$70M
Stock-Based Compensation	$10M
Deferred Income Tax	$13M
Other Non-Cash Items	-$23M
Change in Working Capital	-$35M
OPERATING CASH FLOW	$107M
Capital Expenditure	-$57M
Acquisitions (Net)	-$15M
Purchases of Investments	$0
Sales/Maturities of Investments	$19M
Other Investing Activities	-$19M
NET CASH FROM INVESTING	-$72M
Net Debt Issuance	-$2M
Common Stock Repurchased	-$16M
Common Dividends Paid	-$17M
Other Financing Activities	$2M
NET CASH FROM FINANCING	-$18M
FREE CASH FLOW	$50M
Net Change in Cash	$18M

Balance Sheet

Item	Amount
Cash & Equivalents	$210M
Short-Term Investments	$0
Net Receivables	$323M
Inventory	$253M
Other Current Assets	$82M
TOTAL CURRENT ASSETS	$867M
PP&E (Net)	$408M
Goodwill	$406M
Intangible Assets	$340M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$108M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$2.1B
Account Payables	$311M
Short-Term Debt	$4M
Deferred Revenue	$126M
Other Current Liabilities	$37M
TOTAL CURRENT LIABILITIES	$460M
Long-Term Debt	$703M
Deferred Revenue NC	$168M
Deferred Tax Liabilities	$32M
Other Non-Current Liabilities	$334M
TOTAL NON-CURRENT LIABILITIES	$1.0B
TOTAL LIABILITIES	$1.5B
Common Stock	$1M
Additional Paid-In Capital	$1.0B
Retained Earnings	-$13M
Treasury Stock	-$364M
Accum. Other Comp. Income	-$11M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$629M
Minority Interest	$2M
TOTAL EQUITY	$631M
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$707M
Net Debt	$497M