HP FY 2008 Earnings Report — Helmerich & Payne, Inc. Revenue & Financial Results | Market Cap Arena

Helmerich & Payne, Inc.HP

FY 2008 Earnings

Reported November 26, 2008

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	$2.0B	—	$1.6B	—	25.0%
Op. Income	$704M	—	$632M	—	11.3%
Gross Margin	46.6%	—	47.1%	—	-0.4pp
Net Margin	22.7%	—	27.6%	—	-4.9pp
EPS (Diluted)	$4.34	—	$4.27	—	1.6%
Free Cash Flow	-$95M	—	-$333M	—	71.5%

Revenue Flow

Item	Amount
REVENUE	$2.0B
Cost of Revenue	$1.1B
GROSS PROFIT	$950M
R&D Expenses	$2M
Selling & Marketing	$0
General & Administrative	$57M
SG&A Expenses	$57M
Other Expenses	$187M
Operating Expenses	$246M
Cost & Expenses	$1.3B
OPERATING INCOME	$704M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$4M
INCOME BEFORE TAX	$700M
Income Tax Expense	$256M
Net Income from Continuing Ops	$462M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$462M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$462M
D&A	$211M
EBIT	$704M
EBITDA	$915M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$2.0B
Cost of Revenue	$1.1B
GROSS PROFIT	$950M
R&D Expenses	$2M
Selling & Marketing	$0
General & Administrative	$57M
SG&A Expenses	$57M
Other Expenses	$187M
Operating Expenses	$246M
Cost & Expenses	$1.3B
OPERATING INCOME	$704M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$4M
INCOME BEFORE TAX	$700M
Income Tax Expense	$256M
Net Income from Continuing Ops	$462M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$462M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$462M
D&A	$211M
EBIT	$704M
EBITDA	$915M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$462M
Depreciation & Amortization	$211M
Stock-Based Compensation	$0
Deferred Income Tax	$130M
Other Non-Cash Items	$19M
Change in Working Capital	-$137M
OPERATING CASH FLOW	$611M
Capital Expenditure	-$706M
Acquisitions (Net)	-$12M
Purchases of Investments	$23M
Sales/Maturities of Investments	$26M
Other Investing Activities	$14M
NET CASH FROM INVESTING	-$655M
Net Debt Issuance	$57M
Common Stock Repurchased	$0
Common Dividends Paid	-$19M
Other Financing Activities	$25M
NET CASH FROM FINANCING	$77M
FREE CASH FLOW	-$95M
Net Change in Cash	$32M

Balance Sheet

Item	Amount
Cash & Equivalents	$122M
Short-Term Investments	$0
Net Receivables	$463M
Inventory	$33M
Other Current Assets	$57M
TOTAL CURRENT ASSETS	$691M
PP&E (Net)	$2.7B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$199M
Tax Assets	$0
Other Non-Current Assets	$16M
TOTAL NON-CURRENT ASSETS	$2.9B
TOTAL ASSETS	$3.6B
Account Payables	$154M
Short-Term Debt	$27M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$309M
Long-Term Debt	$475M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$480M
Other Non-Current Liabilities	$59M
TOTAL NON-CURRENT LIABILITIES	$1.0B
TOTAL LIABILITIES	$1.3B
Common Stock	$11M
Additional Paid-In Capital	$169M
Retained Earnings	$2.1B
Treasury Stock	-$36M
Accum. Other Comp. Income	$38M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$0
TOTAL EQUITY	$2.3B
TOTAL LIABILITIES & EQUITY	$3.6B
Total Debt	$502M
Net Debt	$380M