IMKTA FY 2009 Earnings Report — Ingles Markets, Incorporated Revenue & Financial Results | Market Cap Arena

Ingles Markets, IncorporatedIMKTA

FY 2009 Earnings

Reported December 7, 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	$3.3B	—	$3.2B	—	0.4%
Op. Income	$113M	—	$123M	—	-8.3%
Gross Margin	22.9%	—	23.1%	—	-0.2pp
Net Margin	0.9%	—	1.6%	—	-0.7pp
EPS (Diluted)	$1.18	—	$2.13	—	-44.6%
Free Cash Flow	-$38M	—	-$159M	—	76.1%

Revenue Flow

Item	Amount
REVENUE	$3.3B
Cost of Revenue	$2.5B
GROSS PROFIT	$743M
R&D Expenses	$0
Selling & Marketing	-$2M
General & Administrative	$635M
SG&A Expenses	$632M
Other Expenses	-$3M
Operating Expenses	$630M
Cost & Expenses	$3.1B
OPERATING INCOME	$113M
Interest Income	$0
Interest Expense	$59M
Other Income/Expenses	-$67M
INCOME BEFORE TAX	$46M
Income Tax Expense	$17M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$80M
EBIT	$105M
EBITDA	$185M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.3B
Cost of Revenue	$2.5B
GROSS PROFIT	$743M
R&D Expenses	$0
Selling & Marketing	-$2M
General & Administrative	$635M
SG&A Expenses	$632M
Other Expenses	-$3M
Operating Expenses	$630M
Cost & Expenses	$3.1B
OPERATING INCOME	$113M
Interest Income	$0
Interest Expense	$59M
Other Income/Expenses	-$67M
INCOME BEFORE TAX	$46M
Income Tax Expense	$17M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$80M
EBIT	$105M
EBITDA	$185M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$29M
Depreciation & Amortization	$80M
Stock-Based Compensation	$0
Deferred Income Tax	$17M
Other Non-Cash Items	$8M
Change in Working Capital	-$31M
OPERATING CASH FLOW	$103M
Capital Expenditure	-$141M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$16M
NET CASH FROM INVESTING	-$157M
Net Debt Issuance	$144M
Common Stock Repurchased	$0
Common Dividends Paid	-$15M
Other Financing Activities	-$19M
NET CASH FROM FINANCING	$110M
FREE CASH FLOW	-$38M
Net Change in Cash	$55M

Balance Sheet

Item	Amount
Cash & Equivalents	$60M
Short-Term Investments	$0
Net Receivables	$50M
Inventory	$272M
Other Current Assets	$40M
TOTAL CURRENT ASSETS	$421M
PP&E (Net)	$1.1B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$23M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$1.5B
Account Payables	$118M
Short-Term Debt	$31M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$229M
Long-Term Debt	$818M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$67M
Other Non-Current Liabilities	$6M
TOTAL NON-CURRENT LIABILITIES	$891M
TOTAL LIABILITIES	$1.1B
Common Stock	$1M
Additional Paid-In Capital	$118M
Retained Earnings	$279M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$398M
Minority Interest	$0
TOTAL EQUITY	$398M
TOTAL LIABILITIES & EQUITY	$1.5B
Total Debt	$849M
Net Debt	$790M