GILD FY 2008 Earnings Report — Gilead Sciences, Inc. Revenue & Financial Results | Market Cap Arena

Gilead Sciences, Inc.GILD

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	$5.3B	—	$4.2B	—	26.1%
Op. Income	$2.7B	—	$2.2B	—	23.7%
Gross Margin	78.9%	—	81.8%	—	-3.0pp
Net Margin	37.1%	—	38.2%	—	-1.1pp
EPS (Diluted)	$1.05	—	$0.84	—	25.0%
Free Cash Flow	$2.0B	—	$1.7B	—	20.3%

Revenue Flow

Item	Amount
REVENUE	$5.3B
Cost of Revenue	$1.1B
GROSS PROFIT	$4.2B
R&D Expenses	$722M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$797M
Other Expenses	$0
Operating Expenses	$1.5B
Cost & Expenses	$2.6B
OPERATING INCOME	$2.7B
Interest Income	$59M
Interest Expense	$65M
Other Income/Expenses	-$6M
INCOME BEFORE TAX	$2.7B
Income Tax Expense	$702M
Net Income from Continuing Ops	$2.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.0B
D&A	$156M
EBIT	$2.7B
EBITDA	$2.9B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.3B
Cost of Revenue	$1.1B
GROSS PROFIT	$4.2B
R&D Expenses	$722M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$797M
Other Expenses	$0
Operating Expenses	$1.5B
Cost & Expenses	$2.6B
OPERATING INCOME	$2.7B
Interest Income	$59M
Interest Expense	$65M
Other Income/Expenses	-$6M
INCOME BEFORE TAX	$2.7B
Income Tax Expense	$702M
Net Income from Continuing Ops	$2.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.0B
D&A	$156M
EBIT	$2.7B
EBITDA	$2.9B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$2.0B
Depreciation & Amortization	$156M
Stock-Based Compensation	$153M
Deferred Income Tax	-$25M
Other Non-Cash Items	$17M
Change in Working Capital	-$128M
OPERATING CASH FLOW	$2.1B
Capital Expenditure	-$115M
Acquisitions (Net)	-$11M
Purchases of Investments	-$3.3B
Sales/Maturities of Investments	$3.2B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$179M
Net Debt Issuance	-$4M
Common Stock Repurchased	-$2.0B
Common Dividends Paid	$0
Other Financing Activities	$253M
NET CASH FROM FINANCING	-$1.5B
FREE CASH FLOW	$2.0B
Net Change in Cash	$491M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.5B
Short-Term Investments	$331M
Net Receivables	$1.0B
Inventory	$928M
Other Current Assets	$267M
TOTAL CURRENT ASSETS	$4.3B
PP&E (Net)	$529M
Goodwill	$123M
Intangible Assets	$0
Long-Term Investments	$1.4B
Tax Assets	$227M
Other Non-Current Assets	$330M
TOTAL NON-CURRENT ASSETS	$2.7B
TOTAL ASSETS	$6.9B
Account Payables	$601M
Short-Term Debt	$0
Deferred Revenue	$43M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$1.2B
Deferred Revenue NC	$74M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$21M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$2.5B
Common Stock	$910.0K
Additional Paid-In Capital	$3.9B
Retained Earnings	$300M
Treasury Stock	$0
Accum. Other Comp. Income	$41M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.3B
Minority Interest	$193M
TOTAL EQUITY	$4.5B
TOTAL LIABILITIES & EQUITY	$6.9B
Total Debt	$1.2B
Net Debt	-$299M