DVA FY 2008 Earnings Report — DaVita Inc. Revenue & Financial Results | Market Cap Arena

FY 2008 Earnings

Reported February 27, 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	$5.7B	—	$5.3B	—	7.5%
Op. Income	$869M	—	$862M	—	0.8%
Gross Margin	30.7%	—	31.8%	—	-1.1pp
Net Margin	6.6%	—	7.3%	—	-0.6pp
EPS (Diluted)	$1.77	—	$1.78	—	-0.6%
Free Cash Flow	$238M	—	$259M	—	-8.0%

Revenue Flow

Item	Amount
REVENUE	$5.7B
Cost of Revenue	$3.9B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$654M
SG&A Expenses	$654M
Other Expenses	$362M
Operating Expenses	$871M
Cost & Expenses	$4.8B
OPERATING INCOME	$869M
Interest Income	$0
Interest Expense	$200M
Other Income/Expenses	-$212M
INCOME BEFORE TAX	$609M
Income Tax Expense	$235M
Net Income from Continuing Ops	$421M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$374M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$374M
D&A	$217M
EBIT	$882M
EBITDA	$1.1B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$5.7B
Cost of Revenue	$3.9B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$654M
SG&A Expenses	$654M
Other Expenses	$362M
Operating Expenses	$871M
Cost & Expenses	$4.8B
OPERATING INCOME	$869M
Interest Income	$0
Interest Expense	$200M
Other Income/Expenses	-$212M
INCOME BEFORE TAX	$609M
Income Tax Expense	$235M
Net Income from Continuing Ops	$421M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$374M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$374M
D&A	$217M
EBIT	$882M
EBITDA	$1.1B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$374M
Depreciation & Amortization	$217M
Stock-Based Compensation	$41M
Deferred Income Tax	$95M
Other Non-Cash Items	$22M
Change in Working Capital	-$193M
OPERATING CASH FLOW	$556M
Capital Expenditure	-$318M
Acquisitions (Net)	-$126M
Purchases of Investments	-$23M
Sales/Maturities of Investments	$43M
Other Investing Activities	$31M
NET CASH FROM INVESTING	-$394M
Net Debt Issuance	-$14M
Common Stock Repurchased	-$257M
Common Dividends Paid	$0
Other Financing Activities	$102M
NET CASH FROM FINANCING	-$198M
FREE CASH FLOW	$238M
Net Change in Cash	-$36M

Balance Sheet

Item	Amount
Cash & Equivalents	$411M
Short-Term Investments	$36M
Net Receivables	$1.3B
Inventory	$84M
Other Current Assets	$251M
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$1.0B
Goodwill	$3.9B
Intangible Assets	$161M
Long-Term Investments	$25M
Tax Assets	$0
Other Non-Current Assets	$47M
TOTAL NON-CURRENT ASSETS	$5.2B
TOTAL ASSETS	$7.3B
Account Payables	$283M
Short-Term Debt	$73M
Deferred Revenue	$0
Other Current Liabilities	$495M
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$3.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$245M
Other Non-Current Liabilities	$393M
TOTAL NON-CURRENT LIABILITIES	$4.3B
TOTAL LIABILITIES	$5.5B
Common Stock	$135.0K
Additional Paid-In Capital	$769M
Retained Earnings	$1.9B
Treasury Stock	-$692M
Accum. Other Comp. Income	-$14M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$166M
TOTAL EQUITY	$2.1B
TOTAL LIABILITIES & EQUITY	$7.3B
Total Debt	$3.7B
Net Debt	$3.3B