IMKTA FY 2008 Earnings Report — Ingles Markets, Incorporated Revenue & Financial Results | Market Cap Arena

Ingles Markets, IncorporatedIMKTA

FY 2008 Earnings

Reported December 1, 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	$3.2B	—	$2.9B	—	13.6%
Op. Income	$123M	—	$134M	—	-7.5%
Gross Margin	23.1%	—	24.1%	—	-1.0pp
Net Margin	1.6%	—	2.1%	—	-0.4pp
EPS (Diluted)	$2.13	—	$2.39	—	-10.9%
Free Cash Flow	-$159M	—	$11M	—	-1515.4%

Revenue Flow

Item	Amount
REVENUE	$3.2B
Cost of Revenue	$2.5B
GROSS PROFIT	$748M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$626M
Other Expenses	-$2M
Operating Expenses	$624M
Cost & Expenses	$3.1B
OPERATING INCOME	$123M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$44M
INCOME BEFORE TAX	$80M
Income Tax Expense	$28M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$52M
D&A	$69M
EBIT	$123M
EBITDA	$193M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$3.2B
Cost of Revenue	$2.5B
GROSS PROFIT	$748M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$626M
Other Expenses	-$2M
Operating Expenses	$624M
Cost & Expenses	$3.1B
OPERATING INCOME	$123M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$44M
INCOME BEFORE TAX	$80M
Income Tax Expense	$28M
Net Income from Continuing Ops	$52M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$52M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$52M
D&A	$69M
EBIT	$123M
EBITDA	$193M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$52M
Depreciation & Amortization	$69M
Stock-Based Compensation	$0
Deferred Income Tax	$11M
Other Non-Cash Items	-$634.9K
Change in Working Capital	-$42M
OPERATING CASH FLOW	$90M
Capital Expenditure	-$249M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$519.8K
NET CASH FROM INVESTING	-$248M
Net Debt Issuance	$174M
Common Stock Repurchased	$0
Common Dividends Paid	-$15M
Other Financing Activities	$0
NET CASH FROM FINANCING	$158M
FREE CASH FLOW	-$159M
Net Change in Cash	-$194.3K

Balance Sheet

Item	Amount
Cash & Equivalents	$4M
Short-Term Investments	$0
Net Receivables	$47M
Inventory	$259M
Other Current Assets	$25M
TOTAL CURRENT ASSETS	$335M
PP&E (Net)	$1.0B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$10M
TOTAL NON-CURRENT ASSETS	$1.0B
TOTAL ASSETS	$1.4B
Account Payables	$145M
Short-Term Debt	$36M
Deferred Revenue	$0
Other Current Liabilities	$12M
TOTAL CURRENT LIABILITIES	$253M
Long-Term Debt	$681M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$51M
Other Non-Current Liabilities	$5M
TOTAL NON-CURRENT LIABILITIES	$737M
TOTAL LIABILITIES	$990M
Common Stock	$1M
Additional Paid-In Capital	$118M
Retained Earnings	$265M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$385M
Minority Interest	$0
TOTAL EQUITY	$385M
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$717M
Net Debt	$713M