EMN FY 2008 Earnings Report — Eastman Chemical Company Revenue & Financial Results | Market Cap Arena

Eastman Chemical CompanyEMN

FY 2008 Earnings

Reported February 25, 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	$6.7B	—	$6.8B	—	-1.5%
Op. Income	$558M	—	$665M	—	-16.1%
Gross Margin	16.9%	—	18.2%	—	-1.3pp
Net Margin	5.1%	—	4.4%	—	0.8pp
EPS (Diluted)	$2.28	—	$1.79	—	27.4%
Free Cash Flow	$9M	—	$203M	—	-95.6%

Revenue Flow

Item	Amount
REVENUE	$6.7B
Cost of Revenue	$5.6B
GROSS PROFIT	$1.1B
R&D Expenses	$158M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$419M
Other Expenses	$0
Operating Expenses	$577M
Cost & Expenses	$6.2B
OPERATING INCOME	$558M
Interest Income	$0
Interest Expense	$70M
Other Income/Expenses	-$129M
INCOME BEFORE TAX	$429M
Income Tax Expense	$101M
Net Income from Continuing Ops	$328M
Net Income from Discontinued Ops	$0
Other Adjustments	$18M
NET INCOME	$346M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$346M
D&A	$267M
EBIT	$523M
EBITDA	$790M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$6.7B
Cost of Revenue	$5.6B
GROSS PROFIT	$1.1B
R&D Expenses	$158M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$419M
Other Expenses	$0
Operating Expenses	$577M
Cost & Expenses	$6.2B
OPERATING INCOME	$558M
Interest Income	$0
Interest Expense	$70M
Other Income/Expenses	-$129M
INCOME BEFORE TAX	$429M
Income Tax Expense	$101M
Net Income from Continuing Ops	$328M
Net Income from Discontinued Ops	$0
Other Adjustments	$18M
NET INCOME	$346M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$346M
D&A	$267M
EBIT	$523M
EBITDA	$790M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$346M
Depreciation & Amortization	$267M
Stock-Based Compensation	$0
Deferred Income Tax	-$71M
Other Non-Cash Items	-$13M
Change in Working Capital	$124M
OPERATING CASH FLOW	$653M
Capital Expenditure	-$644M
Acquisitions (Net)	-$38M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$41M
NET CASH FROM INVESTING	-$376M
Net Debt Issuance	-$182M
Common Stock Repurchased	-$501M
Common Dividends Paid	-$135M
Other Financing Activities	$39M
NET CASH FROM FINANCING	-$779M
FREE CASH FLOW	$9M
Net Change in Cash	-$501M

Balance Sheet

Item	Amount
Cash & Equivalents	$387M
Short-Term Investments	$0
Net Receivables	$354M
Inventory	$637M
Other Current Assets	$45M
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$3.2B
Goodwill	$325M
Intangible Assets	$0
Long-Term Investments	-$106M
Tax Assets	$106M
Other Non-Current Assets	$335M
TOTAL NON-CURRENT ASSETS	$3.9B
TOTAL ASSETS	$5.3B
Account Payables	$434M
Short-Term Debt	$13M
Deferred Revenue	-$832M
Other Current Liabilities	$385M
TOTAL CURRENT LIABILITIES	$832M
Long-Term Debt	$1.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$106M
Other Non-Current Liabilities	$1.3B
TOTAL NON-CURRENT LIABILITIES	$2.9B
TOTAL LIABILITIES	$3.7B
Common Stock	$1M
Additional Paid-In Capital	$638M
Retained Earnings	$2.6B
Treasury Stock	-$1.3B
Accum. Other Comp. Income	-$335M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$0
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$5.3B
Total Debt	$1.5B
Net Debt	$1.1B