CNX FY 2008 Earnings Report — CNX Resources Corporation Revenue & Financial Results | Market Cap Arena

CNX Resources CorporationCNX

FY 2008 Earnings

Reported February 17, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$4.7B	—	$3.8B	—	23.7%
Op. Income	$596M	—	$263M	—	126.4%
Gross Margin	38.9%	—	31.3%	—	7.6pp
Net Margin	9.5%	—	7.1%	—	2.4pp
EPS (Diluted)	$2.40	—	$1.45	—	65.5%
Free Cash Flow	-$32M	—	-$59M	—	45.5%

Revenue Flow

Item	Amount
REVENUE	$4.7B
Cost of Revenue	$2.8B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$125M
Other Expenses	$624M
Operating Expenses	$1.1B
Cost & Expenses	$3.9B
OPERATING INCOME	$596M
Interest Income	$0
Interest Expense	$36M
Other Income/Expenses	$130M
INCOME BEFORE TAX	$726M
Income Tax Expense	$240M
Net Income from Continuing Ops	$486M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$442M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$442M
D&A	$394M
EBIT	$762M
EBITDA	$1.2B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.7B
Cost of Revenue	$2.8B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$125M
Other Expenses	$624M
Operating Expenses	$1.1B
Cost & Expenses	$3.9B
OPERATING INCOME	$596M
Interest Income	$0
Interest Expense	$36M
Other Income/Expenses	$130M
INCOME BEFORE TAX	$726M
Income Tax Expense	$240M
Net Income from Continuing Ops	$486M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$442M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$442M
D&A	$394M
EBIT	$762M
EBITDA	$1.2B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$442M
Depreciation & Amortization	$394M
Stock-Based Compensation	$25M
Deferred Income Tax	$136M
Other Non-Cash Items	$80M
Change in Working Capital	-$48M
OPERATING CASH FLOW	$1.0B
Capital Expenditure	-$1.1B
Acquisitions (Net)	-$67M
Purchases of Investments	$95M
Sales/Maturities of Investments	$2M
Other Investing Activities	-$67M
NET CASH FROM INVESTING	-$1.1B
Net Debt Issuance	$300M
Common Stock Repurchased	-$98M
Common Dividends Paid	-$73M
Other Financing Activities	$22M
NET CASH FROM FINANCING	$166M
FREE CASH FLOW	-$32M
Net Change in Cash	$97M

Balance Sheet

Item	Amount
Cash & Equivalents	$139M
Short-Term Investments	$0
Net Receivables	$335M
Inventory	$228M
Other Current Assets	$61M
TOTAL CURRENT ASSETS	$984M
PP&E (Net)	$5.8B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$73M
Tax Assets	$334M
Other Non-Current Assets	$214M
TOTAL NON-CURRENT ASSETS	$6.4B
TOTAL ASSETS	$7.4B
Account Payables	$385M
Short-Term Debt	$580M
Deferred Revenue	$0
Other Current Liabilities	$262M
TOTAL CURRENT LIABILITIES	$1.5B
Long-Term Debt	$393M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$3.7B
TOTAL NON-CURRENT LIABILITIES	$4.2B
TOTAL LIABILITIES	$5.7B
Common Stock	$2M
Additional Paid-In Capital	$993M
Retained Earnings	$1.0B
Treasury Stock	-$82M
Accum. Other Comp. Income	-$462M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$212M
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$7.4B
Total Debt	$1.0B
Net Debt	$910M