MAN FY 2011 Earnings Report — ManpowerGroup Inc. Revenue & Financial Results | Market Cap Arena

ManpowerGroup Inc.MAN

FY 2011 Earnings

Reported February 23, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$22.0B	—	$18.9B	—	16.6%
Op. Income	$524M	—	-$122M	—	529.7%
Gross Margin	16.8%	—	17.2%	—	-0.4pp
Net Margin	1.1%	—	-1.4%	—	2.5pp
EPS (Diluted)	$3.04	—	$-3.25	—	193.5%
Free Cash Flow	$4M	—	$124M	—	-96.5%

Revenue Flow

Item	Amount
REVENUE	$22.0B
Cost of Revenue	$18.3B
GROSS PROFIT	$3.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$3.2B
SG&A Expenses	$3.2B
Other Expenses	$0
Operating Expenses	$3.2B
Cost & Expenses	$21.5B
OPERATING INCOME	$524M
Interest Income	$7M
Interest Expense	$44M
Other Income/Expenses	-$44M
INCOME BEFORE TAX	$480M
Income Tax Expense	$228M
Net Income from Continuing Ops	$252M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$252M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$252M
D&A	$104M
EBIT	$523M
EBITDA	$627M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$22.0B
Cost of Revenue	$18.3B
GROSS PROFIT	$3.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$3.2B
SG&A Expenses	$3.2B
Other Expenses	$0
Operating Expenses	$3.2B
Cost & Expenses	$21.5B
OPERATING INCOME	$524M
Interest Income	$7M
Interest Expense	$44M
Other Income/Expenses	-$44M
INCOME BEFORE TAX	$480M
Income Tax Expense	$228M
Net Income from Continuing Ops	$252M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$252M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$252M
D&A	$104M
EBIT	$523M
EBITDA	$627M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$252M
Depreciation & Amortization	$104M
Stock-Based Compensation	$31M
Deferred Income Tax	$25M
Other Non-Cash Items	$25M
Change in Working Capital	-$368M
OPERATING CASH FLOW	$69M
Capital Expenditure	-$65M
Acquisitions (Net)	-$49M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$110M
Net Debt Issuance	$15M
Common Stock Repurchased	-$105M
Common Dividends Paid	-$65M
Other Financing Activities	$31M
NET CASH FROM FINANCING	-$124M
FREE CASH FLOW	$4M
Net Change in Cash	-$192M

Balance Sheet

Item	Amount
Cash & Equivalents	$581M
Short-Term Investments	$0
Net Receivables	$4.2B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.0B
PP&E (Net)	$175M
Goodwill	$985M
Intangible Assets	$355M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$395M
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$6.9B
Account Payables	$1.4B
Short-Term Debt	$434M
Deferred Revenue	$0
Other Current Liabilities	$222M
TOTAL CURRENT LIABILITIES	$3.8B
Long-Term Debt	$266M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$369M
TOTAL NON-CURRENT LIABILITIES	$654M
TOTAL LIABILITIES	$4.4B
Common Stock	$1M
Additional Paid-In Capital	$2.8B
Retained Earnings	$972M
Treasury Stock	-$1.4B
Accum. Other Comp. Income	$35M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.5B
Minority Interest	$0
TOTAL EQUITY	$2.5B
TOTAL LIABILITIES & EQUITY	$6.9B
Total Debt	$700M
Net Debt	$120M