CDW FY 2005 Earnings Report — CDW Corporation Revenue & Financial Results | Market Cap Arena

CDW CorporationCDW

FY 2005 Earnings

Reported December 30, 2005

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2005	Prior Q	FY 2004	QoQ Change	YoY Change
Revenue	$6.3B	—	—	—	—
Op. Income	$420M	—	—	—	—
Gross Margin	15.4%	—	—	—	—
Net Margin	4.3%	—	—	—	—
EPS (Diluted)	$3.26	—	—	—	—
Free Cash Flow	$255M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$6.3B
Cost of Revenue	$5.3B
GROSS PROFIT	$968M
R&D Expenses	$0
Selling & Marketing	$115M
General & Administrative	$433M
SG&A Expenses	$548M
Other Expenses	$0
Operating Expenses	$548M
Cost & Expenses	$5.9B
OPERATING INCOME	$420M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$13M
INCOME BEFORE TAX	$433M
Income Tax Expense	$161M
Net Income from Continuing Ops	$272M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$272M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$272M
D&A	$21M
EBIT	$420M
EBITDA	$441M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$6.3B
Cost of Revenue	$5.3B
GROSS PROFIT	$968M
R&D Expenses	$0
Selling & Marketing	$115M
General & Administrative	$433M
SG&A Expenses	$548M
Other Expenses	$0
Operating Expenses	$548M
Cost & Expenses	$5.9B
OPERATING INCOME	$420M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$13M
INCOME BEFORE TAX	$433M
Income Tax Expense	$161M
Net Income from Continuing Ops	$272M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$272M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$272M
D&A	$21M
EBIT	$420M
EBITDA	$441M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$272M
Depreciation & Amortization	$21M
Stock-Based Compensation	$0
Deferred Income Tax	$1M
Other Non-Cash Items	$14M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$304M
Capital Expenditure	-$49M
Acquisitions (Net)	$0
Purchases of Investments	-$422M
Sales/Maturities of Investments	$804M
Other Investing Activities	-$337M
NET CASH FROM INVESTING	-$4M
Net Debt Issuance	$16M
Common Stock Repurchased	-$258M
Common Dividends Paid	-$35M
Other Financing Activities	$30M
NET CASH FROM FINANCING	-$247M
FREE CASH FLOW	$255M
Net Change in Cash	$52M

Balance Sheet

Item	Amount
Cash & Equivalents	$201M
Short-Term Investments	$371M
Net Receivables	$665M
Inventory	$244M
Other Current Assets	$13M
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$97M
Goodwill	$0
Intangible Assets	$5M
Long-Term Investments	$39M
Tax Assets	$0
Other Non-Current Assets	$7M
TOTAL NON-CURRENT ASSETS	$148M
TOTAL ASSETS	$1.6B
Account Payables	$245M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$368M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$17M
TOTAL NON-CURRENT LIABILITIES	$17M
TOTAL LIABILITIES	$384M
Common Stock	$934.0K
Additional Paid-In Capital	$508M
Retained Earnings	$1.4B
Treasury Stock	-$649M
Accum. Other Comp. Income	$163.0K
Other Equity	-$400.0K
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$1.6B
Total Debt	$0
Net Debt	-$201M