DAR FY 2010 Earnings Report — Darling Ingredients Inc. Revenue & Financial Results | Market Cap Arena

Darling Ingredients Inc.DAR

FY 2010 Earnings

Reported March 2, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$725M	—	$598M	—	21.3%
Op. Income	$83M	—	$71M	—	15.6%
Gross Margin	26.7%	—	26.4%	—	0.3pp
Net Margin	6.1%	—	7.0%	—	-0.9pp
EPS (Diluted)	$0.53	—	$0.51	—	3.9%
Free Cash Flow	$55M	—	$56M	—	-0.2%

Revenue Flow

Item	Amount
REVENUE	$725M
Cost of Revenue	$532M
GROSS PROFIT	$193M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$68M
Other Expenses	$32M
Operating Expenses	$100M
Cost & Expenses	$631M
OPERATING INCOME	$83M
Interest Income	$0
Interest Expense	$9M
Other Income/Expenses	-$12M
INCOME BEFORE TAX	$70M
Income Tax Expense	$26M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$32M
EBIT	$79M
EBITDA	$109M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$725M
Cost of Revenue	$532M
GROSS PROFIT	$193M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$68M
Other Expenses	$32M
Operating Expenses	$100M
Cost & Expenses	$631M
OPERATING INCOME	$83M
Interest Income	$0
Interest Expense	$9M
Other Income/Expenses	-$12M
INCOME BEFORE TAX	$70M
Income Tax Expense	$26M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$32M
EBIT	$79M
EBITDA	$109M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$44M
Depreciation & Amortization	$32M
Stock-Based Compensation	$2M
Deferred Income Tax	$2M
Other Non-Cash Items	$3M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$82M
Capital Expenditure	-$26M
Acquisitions (Net)	-$758M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$624.0K
NET CASH FROM INVESTING	-$784M
Net Debt Issuance	$677M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$24M
NET CASH FROM FINANCING	$653M
FREE CASH FLOW	$55M
Net Change in Cash	-$49M

Balance Sheet

Item	Amount
Cash & Equivalents	$19M
Short-Term Investments	$0
Net Receivables	$89M
Inventory	$46M
Other Current Assets	$15M
TOTAL CURRENT ASSETS	$186M
PP&E (Net)	$393M
Goodwill	$376M
Intangible Assets	$334M
Long-Term Investments	-$7M
Tax Assets	$7M
Other Non-Current Assets	$29M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$1.4B
Account Payables	$70M
Short-Term Debt	$3M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$155M
Long-Term Debt	$707M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$5M
Other Non-Current Liabilities	$51M
TOTAL NON-CURRENT LIABILITIES	$763M
TOTAL LIABILITIES	$918M
Common Stock	$930.0K
Additional Paid-In Capital	$290M
Retained Earnings	$199M
Treasury Stock	-$4M
Accum. Other Comp. Income	-$21M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$464M
Minority Interest	$0
TOTAL EQUITY	$464M
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$710M
Net Debt	$691M