HP FY 2009 Earnings Report — Helmerich & Payne, Inc. Revenue & Financial Results | Market Cap Arena

Helmerich & Payne, Inc.HP

FY 2009 Earnings

Reported November 25, 2009

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	$1.9B	—	$2.0B	—	-7.0%
Op. Income	$584M	—	$704M	—	-17.1%
Gross Margin	46.6%	—	46.6%	—	-0.0pp
Net Margin	18.7%	—	22.7%	—	-4.0pp
EPS (Diluted)	$3.32	—	$4.34	—	-23.5%
Free Cash Flow	$17M	—	-$95M	—	117.5%

Revenue Flow

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$1.0B
GROSS PROFIT	$883M
R&D Expenses	$10M
Selling & Marketing	$0
General & Administrative	$59M
SG&A Expenses	$59M
Other Expenses	$230M
Operating Expenses	$299M
Cost & Expenses	$1.3B
OPERATING INCOME	$584M
Interest Income	$5M
Interest Expense	$13M
Other Income/Expenses	-$33M
INCOME BEFORE TAX	$576M
Income Tax Expense	$232M
Net Income from Continuing Ops	$381M
Net Income from Discontinued Ops	$0
Other Adjustments	$10M
NET INCOME	$354M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$354M
D&A	$236M
EBIT	$589M
EBITDA	$826M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$1.0B
GROSS PROFIT	$883M
R&D Expenses	$10M
Selling & Marketing	$0
General & Administrative	$59M
SG&A Expenses	$59M
Other Expenses	$230M
Operating Expenses	$299M
Cost & Expenses	$1.3B
OPERATING INCOME	$584M
Interest Income	$5M
Interest Expense	$13M
Other Income/Expenses	-$33M
INCOME BEFORE TAX	$576M
Income Tax Expense	$232M
Net Income from Continuing Ops	$381M
Net Income from Discontinued Ops	$0
Other Adjustments	$10M
NET INCOME	$354M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$354M
D&A	$236M
EBIT	$589M
EBITDA	$826M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$354M
Depreciation & Amortization	$236M
Stock-Based Compensation	$8M
Deferred Income Tax	$158M
Other Non-Cash Items	-$182M
Change in Working Capital	$323M
OPERATING CASH FLOW	$897M
Capital Expenditure	-$881M
Acquisitions (Net)	-$16.0K
Purchases of Investments	-$13M
Sales/Maturities of Investments	$541.0K
Other Investing Activities	$9M
NET CASH FROM INVESTING	-$884M
Net Debt Issuance	$25M
Common Stock Repurchased	$0
Common Dividends Paid	-$21M
Other Financing Activities	$2M
NET CASH FROM FINANCING	$7M
FREE CASH FLOW	$17M
Net Change in Cash	$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$141M
Short-Term Investments	$0
Net Receivables	$247M
Inventory	$45M
Other Current Assets	$88M
TOTAL CURRENT ASSETS	$523M
PP&E (Net)	$3.3B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$356M
Tax Assets	$0
Other Non-Current Assets	$16M
TOTAL NON-CURRENT ASSETS	$3.6B
TOTAL ASSETS	$4.2B
Account Payables	$70M
Short-Term Debt	$105M
Deferred Revenue	$0
Other Current Liabilities	$80M
TOTAL CURRENT LIABILITIES	$302M
Long-Term Debt	$420M
Deferred Revenue NC	-$682M
Deferred Tax Liabilities	$682M
Other Non-Current Liabilities	$69M
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$1.5B
Common Stock	$11M
Additional Paid-In Capital	$176M
Retained Earnings	$2.4B
Treasury Stock	-$31M
Accum. Other Comp. Income	$112M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.7B
Minority Interest	$0
TOTAL EQUITY	$2.7B
TOTAL LIABILITIES & EQUITY	$4.2B
Total Debt	$420M
Net Debt	$279M