EMN FY 2007 Earnings Report — Eastman Chemical Company Revenue & Financial Results | Market Cap Arena

Eastman Chemical CompanyEMN

FY 2007 Earnings

Reported February 29, 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	$6.8B	—	$7.5B	—	-8.3%
Op. Income	$665M	—	$673M	—	-1.2%
Gross Margin	18.2%	—	17.1%	—	1.0pp
Net Margin	4.4%	—	5.5%	—	-1.1pp
EPS (Diluted)	$1.79	—	$2.46	—	-27.2%
Free Cash Flow	$203M	—	$204M	—	-0.5%

Revenue Flow

Item	Amount
REVENUE	$6.8B
Cost of Revenue	$5.6B
GROSS PROFIT	$1.2B
R&D Expenses	$156M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$420M
Other Expenses	$0
Operating Expenses	$576M
Cost & Expenses	$6.2B
OPERATING INCOME	$665M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$195M
INCOME BEFORE TAX	$470M
Income Tax Expense	$149M
Net Income from Continuing Ops	$321M
Net Income from Discontinued Ops	$0
Other Adjustments	-$21M
NET INCOME	$300M
Net Income Deductions	-$11M
BOTTOM LINE NET INCOME	$311M
D&A	$327M
EBIT	$573M
EBITDA	$900M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$6.8B
Cost of Revenue	$5.6B
GROSS PROFIT	$1.2B
R&D Expenses	$156M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$420M
Other Expenses	$0
Operating Expenses	$576M
Cost & Expenses	$6.2B
OPERATING INCOME	$665M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$195M
INCOME BEFORE TAX	$470M
Income Tax Expense	$149M
Net Income from Continuing Ops	$321M
Net Income from Discontinued Ops	$0
Other Adjustments	-$21M
NET INCOME	$300M
Net Income Deductions	-$11M
BOTTOM LINE NET INCOME	$311M
D&A	$327M
EBIT	$573M
EBITDA	$900M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$300M
Depreciation & Amortization	$327M
Stock-Based Compensation	$0
Deferred Income Tax	-$9M
Other Non-Cash Items	$130M
Change in Working Capital	-$16M
OPERATING CASH FLOW	$732M
Capital Expenditure	-$529M
Acquisitions (Net)	-$40M
Purchases of Investments	$0
Sales/Maturities of Investments	$202M
Other Investing Activities	$234M
NET CASH FROM INVESTING	-$335M
Net Debt Issuance	-$22M
Common Stock Repurchased	-$382M
Common Dividends Paid	-$147M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$448M
FREE CASH FLOW	$203M
Net Change in Cash	-$51M

Balance Sheet

Item	Amount
Cash & Equivalents	$888M
Short-Term Investments	$0
Net Receivables	$658M
Inventory	$539M
Other Current Assets	$208M
TOTAL CURRENT ASSETS	$2.3B
PP&E (Net)	$2.8B
Goodwill	$316M
Intangible Assets	$0
Long-Term Investments	-$300M
Tax Assets	$300M
Other Non-Current Assets	$554M
TOTAL NON-CURRENT ASSETS	$3.7B
TOTAL ASSETS	$6.0B
Account Payables	$578M
Short-Term Debt	$78M
Deferred Revenue	$174M
Other Current Liabilities	$222M
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$1.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$300M
Other Non-Current Liabilities	$970M
TOTAL NON-CURRENT LIABILITIES	$2.8B
TOTAL LIABILITIES	$3.9B
Common Stock	$1M
Additional Paid-In Capital	$573M
Retained Earnings	$2.3B
Treasury Stock	-$813M
Accum. Other Comp. Income	-$28M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.1B
Minority Interest	$0
TOTAL EQUITY	$2.1B
TOTAL LIABILITIES & EQUITY	$6.0B
Total Debt	$1.6B
Net Debt	$725M