BLK FY 2007 Earnings Report — BlackRock, Inc. Revenue & Financial Results | Market Cap Arena

BlackRock, Inc.BLK

FY 2007 Earnings

Reported February 28, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$5.4B	—	$2.1B	—	155.7%
Op. Income	$2.0B	—	$648M	—	202.8%
Gross Margin	80.1%	—	100.0%	—	-19.9pp
Net Margin	18.6%	—	15.4%	—	3.2pp
EPS (Diluted)	$7.53	—	$3.85	—	95.6%
Free Cash Flow	$476M	—	$637M	—	-25.2%

Revenue Flow

Item	Amount
REVENUE	$5.4B
Cost of Revenue	$548M
GROSS PROFIT	$4.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.8B
SG&A Expenses	$2.8B
Other Expenses	$1.6B
Operating Expenses	$4.4B
Cost & Expenses	$3.4B
OPERATING INCOME	$2.0B
Interest Income	$74M
Interest Expense	$52M
Other Income/Expenses	-$140M
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$464M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$995M
Net Income Deductions	$2M
BOTTOM LINE NET INCOME	$993M
D&A	$197M
EBIT	$2.0B
EBITDA	$2.2B
EPS	$8
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$5.4B
Cost of Revenue	$548M
GROSS PROFIT	$4.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.8B
SG&A Expenses	$2.8B
Other Expenses	$1.6B
Operating Expenses	$4.4B
Cost & Expenses	$3.4B
OPERATING INCOME	$2.0B
Interest Income	$74M
Interest Expense	$52M
Other Income/Expenses	-$140M
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$464M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$995M
Net Income Deductions	$2M
BOTTOM LINE NET INCOME	$993M
D&A	$197M
EBIT	$2.0B
EBITDA	$2.2B
EPS	$8
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$995M
Depreciation & Amortization	$199M
Stock-Based Compensation	$188M
Deferred Income Tax	-$105M
Other Non-Cash Items	-$310M
Change in Working Capital	-$380M
OPERATING CASH FLOW	$587M
Capital Expenditure	-$111M
Acquisitions (Net)	-$592M
Purchases of Investments	-$638M
Sales/Maturities of Investments	$266M
Other Investing Activities	$7M
NET CASH FROM INVESTING	-$1.1B
Net Debt Issuance	$1.1B
Common Stock Repurchased	-$383M
Common Dividends Paid	-$353M
Other Financing Activities	$511M
NET CASH FROM FINANCING	$959M
FREE CASH FLOW	$476M
Net Change in Cash	$496M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.7B
Short-Term Investments	$0
Net Receivables	$1.4B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.1B
PP&E (Net)	$266M
Goodwill	$5.5B
Intangible Assets	$6.6B
Long-Term Investments	$2.0B
Tax Assets	$0
Other Non-Current Assets	$5.2B
TOTAL NON-CURRENT ASSETS	$19.5B
TOTAL ASSETS	$22.6B
Account Payables	$789M
Short-Term Debt	$300M
Deferred Revenue	$0
Other Current Liabilities	$1.1B
TOTAL CURRENT LIABILITIES	$2.3B
Long-Term Debt	$947M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2.1B
Other Non-Current Liabilities	$5.1B
TOTAL NON-CURRENT LIABILITIES	$8.1B
TOTAL LIABILITIES	$10.4B
Common Stock	$1M
Additional Paid-In Capital	$10.3B
Retained Earnings	$1.6B
Treasury Stock	-$184M
Accum. Other Comp. Income	$71M
Other Equity	-$188M
TOTAL STOCKHOLDERS' EQUITY	$11.6B
Minority Interest	$578M
TOTAL EQUITY	$12.2B
TOTAL LIABILITIES & EQUITY	$22.6B
Total Debt	$1.2B
Net Debt	-$409M