MAN FY 2008 Earnings Report — ManpowerGroup Inc. Revenue & Financial Results | Market Cap Arena

ManpowerGroup Inc.MAN

FY 2008 Earnings

Reported February 20, 2009

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	$21.6B	—	$20.5B	—	5.1%
Op. Income	$509M	—	$825M	—	-38.3%
Gross Margin	19.0%	—	18.8%	—	0.3pp
Net Margin	1.0%	—	2.4%	—	-1.3pp
EPS (Diluted)	$2.58	—	$5.73	—	-55.0%
Free Cash Flow	$699M	—	$341M	—	105.2%

Revenue Flow

Item	Amount
REVENUE	$21.6B
Cost of Revenue	$17.5B
GROSS PROFIT	$4.1B
R&D Expenses	$0
Selling & Marketing	$163M
General & Administrative	$3.4B
SG&A Expenses	$3.6B
Other Expenses	$0
Operating Expenses	$3.6B
Cost & Expenses	$21.0B
OPERATING INCOME	$509M
Interest Income	$22M
Interest Expense	$51M
Other Income/Expenses	-$51M
INCOME BEFORE TAX	$458M
Income Tax Expense	$239M
Net Income from Continuing Ops	$219M
Net Income from Discontinued Ops	$0
Other Adjustments	-$13M
NET INCOME	$219M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$206M
D&A	$107M
EBIT	$507M
EBITDA	$629M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$21.6B
Cost of Revenue	$17.5B
GROSS PROFIT	$4.1B
R&D Expenses	$0
Selling & Marketing	$163M
General & Administrative	$3.4B
SG&A Expenses	$3.6B
Other Expenses	$0
Operating Expenses	$3.6B
Cost & Expenses	$21.0B
OPERATING INCOME	$509M
Interest Income	$22M
Interest Expense	$51M
Other Income/Expenses	-$51M
INCOME BEFORE TAX	$458M
Income Tax Expense	$239M
Net Income from Continuing Ops	$219M
Net Income from Discontinued Ops	$0
Other Adjustments	-$13M
NET INCOME	$219M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$206M
D&A	$107M
EBIT	$507M
EBITDA	$629M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$219M
Depreciation & Amortization	$107M
Stock-Based Compensation	$21M
Deferred Income Tax	-$51M
Other Non-Cash Items	$186M
Change in Working Capital	$310M
OPERATING CASH FLOW	$792M
Capital Expenditure	-$93M
Acquisitions (Net)	-$242M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$6M
NET CASH FROM INVESTING	-$329M
Net Debt Issuance	$79M
Common Stock Repurchased	-$125M
Common Dividends Paid	-$58M
Other Financing Activities	$500.0K
NET CASH FROM FINANCING	-$92M
FREE CASH FLOW	$699M
Net Change in Cash	$337M

Balance Sheet

Item	Amount
Cash & Equivalents	$874M
Short-Term Investments	$0
Net Receivables	$3.6B
Inventory	$0
Other Current Assets	$67M
TOTAL CURRENT ASSETS	$4.7B
PP&E (Net)	$213M
Goodwill	$973M
Intangible Assets	$415M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$327M
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$6.6B
Account Payables	$896M
Short-Term Debt	$116M
Deferred Revenue	$0
Other Current Liabilities	-$900.0K
TOTAL CURRENT LIABILITIES	$2.9B
Long-Term Debt	$837M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$391M
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$4.1B
Common Stock	$1M
Additional Paid-In Capital	$2.5B
Retained Earnings	$1.2B
Treasury Stock	-$1.2B
Accum. Other Comp. Income	-$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.5B
Minority Interest	$0
TOTAL EQUITY	$2.5B
TOTAL LIABILITIES & EQUITY	$6.6B
Total Debt	$953M
Net Debt	$79M