EMN FY 2009 Earnings Report — Eastman Chemical Company Revenue & Financial Results | Market Cap Arena

Eastman Chemical CompanyEMN

FY 2009 Earnings

Reported February 24, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$5.0B	—	$6.7B	—	-25.3%
Op. Income	$500M	—	$558M	—	-10.4%
Gross Margin	20.6%	—	16.9%	—	3.7pp
Net Margin	2.7%	—	5.1%	—	-2.4pp
EPS (Diluted)	$0.93	—	$2.28	—	-59.2%
Free Cash Flow	$440M	—	$9M	—	4788.9%

Revenue Flow

Item	Amount
REVENUE	$5.0B
Cost of Revenue	$4.0B
GROSS PROFIT	$1.0B
R&D Expenses	$137M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$399M
Other Expenses	$0
Operating Expenses	$536M
Cost & Expenses	$4.5B
OPERATING INCOME	$500M
Interest Income	$0
Interest Expense	$78M
Other Income/Expenses	-$274M
INCOME BEFORE TAX	$226M
Income Tax Expense	$90M
Net Income from Continuing Ops	$136M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$136M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$136M
D&A	$274M
EBIT	$311M
EBITDA	$585M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.0B
Cost of Revenue	$4.0B
GROSS PROFIT	$1.0B
R&D Expenses	$137M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$399M
Other Expenses	$0
Operating Expenses	$536M
Cost & Expenses	$4.5B
OPERATING INCOME	$500M
Interest Income	$0
Interest Expense	$78M
Other Income/Expenses	-$274M
INCOME BEFORE TAX	$226M
Income Tax Expense	$90M
Net Income from Continuing Ops	$136M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$136M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$136M
D&A	$274M
EBIT	$311M
EBITDA	$585M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$136M
Depreciation & Amortization	$274M
Stock-Based Compensation	$0
Deferred Income Tax	$185M
Other Non-Cash Items	$179M
Change in Working Capital	-$16M
OPERATING CASH FLOW	$758M
Capital Expenditure	-$318M
Acquisitions (Net)	-$68M
Purchases of Investments	-$8M
Sales/Maturities of Investments	$30M
Other Investing Activities	-$21M
NET CASH FROM INVESTING	-$369M
Net Debt Issuance	$150M
Common Stock Repurchased	-$21M
Common Dividends Paid	-$128M
Other Financing Activities	$17M
NET CASH FROM FINANCING	$18M
FREE CASH FLOW	$440M
Net Change in Cash	$406M

Balance Sheet

Item	Amount
Cash & Equivalents	$793M
Short-Term Investments	$0
Net Receivables	$379M
Inventory	$531M
Other Current Assets	$32M
TOTAL CURRENT ASSETS	$1.7B
PP&E (Net)	$3.1B
Goodwill	$315M
Intangible Assets	$0
Long-Term Investments	-$258M
Tax Assets	$258M
Other Non-Current Assets	$355M
TOTAL NON-CURRENT ASSETS	$3.8B
TOTAL ASSETS	$5.5B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$335M
TOTAL CURRENT LIABILITIES	$800M
Long-Term Debt	$1.6B
Deferred Revenue NC	$1.2B
Deferred Tax Liabilities	$258M
Other Non-Current Liabilities	$119M
TOTAL NON-CURRENT LIABILITIES	$3.2B
TOTAL LIABILITIES	$4.0B
Common Stock	$1M
Additional Paid-In Capital	$661M
Retained Earnings	$2.6B
Treasury Stock	-$1.3B
Accum. Other Comp. Income	-$385M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$5.5B
Total Debt	$1.6B
Net Debt	$811M