GILD FY 2010 Earnings Report — Gilead Sciences, Inc. Revenue & Financial Results | Market Cap Arena

Gilead Sciences, Inc.GILD

FY 2010 Earnings

Reported February 28, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$7.9B	—	$7.0B	—	13.4%
Op. Income	$4.0B	—	$3.5B	—	12.3%
Gross Margin	76.5%	—	77.2%	—	-0.8pp
Net Margin	36.5%	—	37.6%	—	-1.1pp
EPS (Diluted)	$1.66	—	$1.41	—	17.7%
Free Cash Flow	$2.8B	—	$2.8B	—	-2.7%

Revenue Flow

Item	Amount
REVENUE	$7.9B
Cost of Revenue	$1.9B
GROSS PROFIT	$6.1B
R&D Expenses	$1.1B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.0B
Other Expenses	$0
Operating Expenses	$2.1B
Cost & Expenses	$4.0B
OPERATING INCOME	$4.0B
Interest Income	$0
Interest Expense	$109M
Other Income/Expenses	-$49M
INCOME BEFORE TAX	$3.9B
Income Tax Expense	$1.0B
Net Income from Continuing Ops	$2.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.9B
D&A	$265M
EBIT	$4.0B
EBITDA	$4.3B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$7.9B
Cost of Revenue	$1.9B
GROSS PROFIT	$6.1B
R&D Expenses	$1.1B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.0B
Other Expenses	$0
Operating Expenses	$2.1B
Cost & Expenses	$4.0B
OPERATING INCOME	$4.0B
Interest Income	$0
Interest Expense	$109M
Other Income/Expenses	-$49M
INCOME BEFORE TAX	$3.9B
Income Tax Expense	$1.0B
Net Income from Continuing Ops	$2.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.9B
D&A	$265M
EBIT	$4.0B
EBITDA	$4.3B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$2.9B
Depreciation & Amortization	$265M
Stock-Based Compensation	$200M
Deferred Income Tax	$94M
Other Non-Cash Items	$65M
Change in Working Capital	-$680M
OPERATING CASH FLOW	$2.8B
Capital Expenditure	-$62M
Acquisitions (Net)	-$91M
Purchases of Investments	-$5.5B
Sales/Maturities of Investments	$3.7B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$1.9B
Net Debt Issuance	$2.1B
Common Stock Repurchased	-$4.0B
Common Dividends Paid	$0
Other Financing Activities	$369M
NET CASH FROM FINANCING	-$1.3B
FREE CASH FLOW	$2.8B
Net Change in Cash	-$365M

Balance Sheet

Item	Amount
Cash & Equivalents	$908M
Short-Term Investments	$1.2B
Net Receivables	$1.6B
Inventory	$1.2B
Other Current Assets	$396M
TOTAL CURRENT ASSETS	$5.7B
PP&E (Net)	$701M
Goodwill	$533M
Intangible Assets	$893M
Long-Term Investments	$3.2B
Tax Assets	$153M
Other Non-Current Assets	$385M
TOTAL NON-CURRENT ASSETS	$5.9B
TOTAL ASSETS	$11.6B
Account Payables	$803M
Short-Term Debt	$646M
Deferred Revenue	$103M
Other Current Liabilities	$148M
TOTAL CURRENT LIABILITIES	$2.5B
Long-Term Debt	$2.8B
Deferred Revenue NC	$33M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$134M
TOTAL NON-CURRENT LIABILITIES	$3.0B
TOTAL LIABILITIES	$5.5B
Common Stock	$802.0K
Additional Paid-In Capital	$4.6B
Retained Earnings	$1.2B
Treasury Stock	$0
Accum. Other Comp. Income	$31M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.9B
Minority Interest	$258M
TOTAL EQUITY	$6.1B
TOTAL LIABILITIES & EQUITY	$11.6B
Total Debt	$3.5B
Net Debt	$2.6B