LSTR FY 2015 Earnings Report — Landstar System, Inc. Revenue & Financial Results | Market Cap Arena

Landstar System, Inc.LSTR

FY 2015 Earnings

Reported February 19, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$3.3B	—	$3.2B	—	4.3%
Op. Income	$242M	—	$224M	—	7.7%
Gross Margin	21.7%	—	21.3%	—	0.4pp
Net Margin	4.4%	—	4.4%	—	0.1pp
EPS (Diluted)	$3.37	—	$3.07	—	9.8%
Free Cash Flow	$211M	—	$91M	—	131.3%

Revenue Flow

Item	Amount
REVENUE	$3.3B
Cost of Revenue	$2.6B
GROSS PROFIT	$722M
R&D Expenses	$0
Selling & Marketing	$270M
General & Administrative	$150M
SG&A Expenses	$420M
Other Expenses	$60M
Operating Expenses	$481M
Cost & Expenses	$3.1B
OPERATING INCOME	$242M
Interest Income	$0
Interest Expense	$3M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$239M
Income Tax Expense	$91M
Net Income from Continuing Ops	$148M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$148M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$148M
D&A	$29M
EBIT	$241M
EBITDA	$271M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$3.3B
Cost of Revenue	$2.6B
GROSS PROFIT	$722M
R&D Expenses	$0
Selling & Marketing	$270M
General & Administrative	$150M
SG&A Expenses	$420M
Other Expenses	$60M
Operating Expenses	$481M
Cost & Expenses	$3.1B
OPERATING INCOME	$242M
Interest Income	$0
Interest Expense	$3M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$239M
Income Tax Expense	$91M
Net Income from Continuing Ops	$148M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$148M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$148M
D&A	$29M
EBIT	$241M
EBITDA	$271M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$148M
Depreciation & Amortization	$29M
Stock-Based Compensation	$7M
Deferred Income Tax	$7M
Other Non-Cash Items	$6M
Change in Working Capital	$20M
OPERATING CASH FLOW	$216M
Capital Expenditure	-$5M
Acquisitions (Net)	$0
Purchases of Investments	-$44M
Sales/Maturities of Investments	$39M
Other Investing Activities	$2M
NET CASH FROM INVESTING	-$9M
Net Debt Issuance	-$36M
Common Stock Repurchased	-$161M
Common Dividends Paid	-$58M
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$255M
FREE CASH FLOW	$211M
Net Change in Cash	-$49M

Balance Sheet

Item	Amount
Cash & Equivalents	$115M
Short-Term Investments	$49M
Net Receivables	$481M
Inventory	$0
Other Current Assets	$12M
TOTAL CURRENT ASSETS	$663M
PP&E (Net)	$226M
Goodwill	$31M
Intangible Assets	$0
Long-Term Investments	-$18M
Tax Assets	$18M
Other Non-Current Assets	$78M
TOTAL NON-CURRENT ASSETS	$335M
TOTAL ASSETS	$998M
Account Payables	$224M
Short-Term Debt	$78M
Deferred Revenue	$0
Other Current Liabilities	$25M
TOTAL CURRENT LIABILITIES	$370M
Long-Term Debt	$82M
Deferred Revenue NC	-$59M
Deferred Tax Liabilities	$59M
Other Non-Current Liabilities	-$1M
TOTAL NON-CURRENT LIABILITIES	$162M
TOTAL LIABILITIES	$532M
Common Stock	$674.0K
Additional Paid-In Capital	$196M
Retained Earnings	$1.4B
Treasury Stock	-$1.1B
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$466M
Minority Interest	$0
TOTAL EQUITY	$466M
TOTAL LIABILITIES & EQUITY	$998M
Total Debt	$160M
Net Debt	$45M