GILD FY 2011 Earnings Report — Gilead Sciences, Inc. Revenue & Financial Results | Market Cap Arena

Gilead Sciences, Inc.GILD

FY 2011 Earnings

Reported February 23, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$8.4B	—	$7.9B	—	5.5%
Op. Income	$3.8B	—	$4.0B	—	-4.4%
Gross Margin	74.7%	—	76.5%	—	-1.8pp
Net Margin	33.4%	—	36.5%	—	-3.1pp
EPS (Diluted)	$1.78	—	$1.66	—	7.2%
Free Cash Flow	$3.5B	—	$2.8B	—	26.5%

Revenue Flow

Item	Amount
REVENUE	$8.4B
Cost of Revenue	$2.1B
GROSS PROFIT	$6.3B
R&D Expenses	$1.2B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.2B
Other Expenses	$0
Operating Expenses	$2.5B
Cost & Expenses	$4.6B
OPERATING INCOME	$3.8B
Interest Income	$0
Interest Expense	$205M
Other Income/Expenses	-$139M
INCOME BEFORE TAX	$3.7B
Income Tax Expense	$862M
Net Income from Continuing Ops	$2.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.8B
D&A	$302M
EBIT	$3.9B
EBITDA	$4.2B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$8.4B
Cost of Revenue	$2.1B
GROSS PROFIT	$6.3B
R&D Expenses	$1.2B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.2B
Other Expenses	$0
Operating Expenses	$2.5B
Cost & Expenses	$4.6B
OPERATING INCOME	$3.8B
Interest Income	$0
Interest Expense	$205M
Other Income/Expenses	-$139M
INCOME BEFORE TAX	$3.7B
Income Tax Expense	$862M
Net Income from Continuing Ops	$2.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.8B
D&A	$302M
EBIT	$3.9B
EBITDA	$4.2B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$2.8B
Depreciation & Amortization	$302M
Stock-Based Compensation	$192M
Deferred Income Tax	$101M
Other Non-Cash Items	$42M
Change in Working Capital	$212M
OPERATING CASH FLOW	$3.6B
Capital Expenditure	-$132M
Acquisitions (Net)	-$589M
Purchases of Investments	-$5.1B
Sales/Maturities of Investments	$9.4B
Other Investing Activities	$0
NET CASH FROM INVESTING	$3.6B
Net Debt Issuance	$4.0B
Common Stock Repurchased	-$2.4B
Common Dividends Paid	$0
Other Financing Activities	-$74M
NET CASH FROM FINANCING	$1.8B
FREE CASH FLOW	$3.5B
Net Change in Cash	$9.0B

Balance Sheet

Item	Amount
Cash & Equivalents	$9.9B
Short-Term Investments	$16M
Net Receivables	$2.0B
Inventory	$1.4B
Other Current Assets	$431M
TOTAL CURRENT ASSETS	$13.9B
PP&E (Net)	$774M
Goodwill	$1.0B
Intangible Assets	$1.1B
Long-Term Investments	$64M
Tax Assets	$144M
Other Non-Current Assets	$335M
TOTAL NON-CURRENT ASSETS	$3.4B
TOTAL ASSETS	$17.3B
Account Payables	$1.2B
Short-Term Debt	$2M
Deferred Revenue	$75M
Other Current Liabilities	$173M
TOTAL CURRENT LIABILITIES	$2.5B
Long-Term Debt	$7.6B
Deferred Revenue NC	$32M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$283M
TOTAL NON-CURRENT LIABILITIES	$7.9B
TOTAL LIABILITIES	$10.4B
Common Stock	$753.0K
Additional Paid-In Capital	$4.9B
Retained Earnings	$1.8B
Treasury Stock	$0
Accum. Other Comp. Income	$58M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.7B
Minority Interest	$128M
TOTAL EQUITY	$6.9B
TOTAL LIABILITIES & EQUITY	$17.3B
Total Debt	$7.6B
Net Debt	-$2.3B