LH FY 2008 Earnings Report — Labcorp Holdings Inc. Revenue & Financial Results | Market Cap Arena

Labcorp Holdings Inc.LH

FY 2008 Earnings

Reported December 30, 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	$4.5B	—	$4.1B	—	10.7%
Op. Income	$843M	—	$777M	—	8.5%
Gross Margin	41.6%	—	41.6%	—	0.0pp
Net Margin	10.3%	—	11.7%	—	-1.4pp
EPS (Diluted)	$4.60	—	$3.93	—	17.0%
Free Cash Flow	$624M	—	$566M	—	10.2%

Revenue Flow

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$2.6B
GROSS PROFIT	$1.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$935M
Other Expenses	$58M
Operating Expenses	$1.0B
Cost & Expenses	$3.7B
OPERATING INCOME	$843M
Interest Income	$3M
Interest Expense	$72M
Other Income/Expenses	-$57M
INCOME BEFORE TAX	$772M
Income Tax Expense	$308M
Net Income from Continuing Ops	$478M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$465M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$465M
D&A	$58M
EBIT	$858M
EBITDA	$1.0B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$2.6B
GROSS PROFIT	$1.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$935M
Other Expenses	$58M
Operating Expenses	$1.0B
Cost & Expenses	$3.7B
OPERATING INCOME	$843M
Interest Income	$3M
Interest Expense	$72M
Other Income/Expenses	-$57M
INCOME BEFORE TAX	$772M
Income Tax Expense	$308M
Net Income from Continuing Ops	$478M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$465M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$465M
D&A	$58M
EBIT	$858M
EBITDA	$1.0B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$465M
Depreciation & Amortization	$180M
Stock-Based Compensation	$36M
Deferred Income Tax	$70M
Other Non-Cash Items	$25M
Change in Working Capital	$6M
OPERATING CASH FLOW	$781M
Capital Expenditure	-$157M
Acquisitions (Net)	-$349M
Purchases of Investments	-$73M
Sales/Maturities of Investments	$183M
Other Investing Activities	-$300.0K
NET CASH FROM INVESTING	-$396M
Net Debt Issuance	$49M
Common Stock Repurchased	-$334M
Common Dividends Paid	$0
Other Financing Activities	$2M
NET CASH FROM FINANCING	-$219M
FREE CASH FLOW	$624M
Net Change in Cash	$163M

Balance Sheet

Item	Amount
Cash & Equivalents	$220M
Short-Term Investments	$0
Net Receivables	$632M
Inventory	$91M
Other Current Assets	$7M
TOTAL CURRENT ASSETS	$1.0B
PP&E (Net)	$496M
Goodwill	$1.8B
Intangible Assets	$1.2B
Long-Term Investments	$72M
Tax Assets	$0
Other Non-Current Assets	$74M
TOTAL NON-CURRENT ASSETS	$3.6B
TOTAL ASSETS	$4.7B
Account Payables	$160M
Short-Term Debt	$121M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$547M
Long-Term Debt	$1.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$523M
Other Non-Current Liabilities	$190M
TOTAL NON-CURRENT LIABILITIES	$2.3B
TOTAL LIABILITIES	$2.9B
Common Stock	$13M
Additional Paid-In Capital	$237M
Retained Earnings	$2.6B
Treasury Stock	-$930M
Accum. Other Comp. Income	-$17M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$121M
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$4.7B
Total Debt	$1.7B
Net Debt	$1.5B