BAX FY 2006 Earnings Report — Baxter International Inc. Revenue & Financial Results | Market Cap Arena

Baxter International Inc.BAX

FY 2006 Earnings

Reported February 27, 2007

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2006	Prior Q	FY 2005	QoQ Change	YoY Change
Revenue	$10.4B	—	—	—	—
Op. Income	$1.8B	—	—	—	—
Gross Margin	45.6%	—	—	—	—
Net Margin	13.5%	—	—	—	—
EPS (Diluted)	$2.13	—	—	—	—
Free Cash Flow	$1.7B	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$10.4B
Cost of Revenue	$5.6B
GROSS PROFIT	$4.7B
R&D Expenses	$614M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.3B
Other Expenses	$0
Operating Expenses	$2.9B
Cost & Expenses	$8.5B
OPERATING INCOME	$1.8B
Interest Income	$0
Interest Expense	$101M
Other Income/Expenses	-$95M
INCOME BEFORE TAX	$1.7B
Income Tax Expense	$348M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	-$1M
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$575M
EBIT	$1.8B
EBITDA	$2.4B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$10.4B
Cost of Revenue	$5.6B
GROSS PROFIT	$4.7B
R&D Expenses	$614M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.3B
Other Expenses	$0
Operating Expenses	$2.9B
Cost & Expenses	$8.5B
OPERATING INCOME	$1.8B
Interest Income	$0
Interest Expense	$101M
Other Income/Expenses	-$95M
INCOME BEFORE TAX	$1.7B
Income Tax Expense	$348M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	-$1M
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$575M
EBIT	$1.8B
EBITDA	$2.4B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.4B
Depreciation & Amortization	$575M
Stock-Based Compensation	$0
Deferred Income Tax	$8M
Other Non-Cash Items	$204M
Change in Working Capital	-$1M
OPERATING CASH FLOW	$2.2B
Capital Expenditure	-$526M
Acquisitions (Net)	$184M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$342M
Net Debt Issuance	-$543M
Common Stock Repurchased	-$737M
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	-$123M
FREE CASH FLOW	$1.7B
Net Change in Cash	$1.6B

Balance Sheet

Item	Amount
Cash & Equivalents	$2.5B
Short-Term Investments	$0
Net Receivables	$1.8B
Inventory	$2.1B
Other Current Assets	$231M
TOTAL CURRENT ASSETS	$7.0B
PP&E (Net)	$4.2B
Goodwill	$1.6B
Intangible Assets	$480M
Long-Term Investments	$0
Tax Assets	$936M
Other Non-Current Assets	$453M
TOTAL NON-CURRENT ASSETS	$7.7B
TOTAL ASSETS	$14.7B
Account Payables	$878M
Short-Term Debt	$234M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$3.6B
Long-Term Debt	$2.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2.2B
TOTAL NON-CURRENT LIABILITIES	$4.8B
TOTAL LIABILITIES	$8.4B
Common Stock	$683M
Additional Paid-In Capital	$5.2B
Retained Earnings	$3.3B
Treasury Stock	-$1.4B
Accum. Other Comp. Income	-$1.4B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.3B
Minority Interest	$0
TOTAL EQUITY	$6.3B
TOTAL LIABILITIES & EQUITY	$14.7B
Total Debt	$2.8B
Net Debt	$316M