MRLN FY 2004 Earnings Report — Merlin, Inc. Revenue & Financial Results | Market Cap Arena

Merlin, Inc.MRLN

FY 2004 Earnings

Reported March 15, 2005

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2004	Prior Q	FY 2003	QoQ Change	YoY Change
Revenue	$2M	—	$2M	—	28.1%
Op. Income	$22M	—	$9M	—	148.6%
Gross Margin	100.0%	—	100.0%	—	0.0pp
Net Margin	654.9%	—	198.1%	—	456.8pp
EPS (Diluted)	$1.15	—	$0.34	—	238.2%
Free Cash Flow	-$240M	—	-$219M	—	-9.7%

Revenue Flow

Item	Amount
REVENUE	$2M
Cost of Revenue	$0
GROSS PROFIT	$2M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$10M
SG&A Expenses	$10M
Other Expenses	$10M
Operating Expenses	$20M
Cost & Expenses	$20M
OPERATING INCOME	$22M
Interest Income	$2M
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$22M
Income Tax Expense	$9M
Net Income from Continuing Ops	$13M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$13M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$13M
D&A	$2M
EBIT	$22M
EBITDA	$24M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2M
Cost of Revenue	$0
GROSS PROFIT	$2M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$10M
SG&A Expenses	$10M
Other Expenses	$10M
Operating Expenses	$20M
Cost & Expenses	$20M
OPERATING INCOME	$22M
Interest Income	$2M
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$22M
Income Tax Expense	$9M
Net Income from Continuing Ops	$13M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$13M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$13M
D&A	$2M
EBIT	$22M
EBITDA	$24M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$13M
Depreciation & Amortization	$2M
Stock-Based Compensation	$0
Deferred Income Tax	$9M
Other Non-Cash Items	-$42M
Change in Working Capital	$52M
OPERATING CASH FLOW	$34M
Capital Expenditure	-$275M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$275M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$34M
NET CASH FROM FINANCING	$34M
FREE CASH FLOW	-$240M
Net Change in Cash	-$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$16M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$518M
TOTAL CURRENT ASSETS	$534M
PP&E (Net)	$4M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$4M
TOTAL ASSETS	$538M
Account Payables	$12M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$17M
TOTAL CURRENT LIABILITIES	$30M
Long-Term Debt	$417M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$18M
TOTAL NON-CURRENT LIABILITIES	$435M
TOTAL LIABILITIES	$447M
Common Stock	$115.0K
Additional Paid-In Capital	$0
Retained Earnings	$16M
Treasury Stock	$0
Accum. Other Comp. Income	-$3M
Other Equity	$78M
TOTAL STOCKHOLDERS' EQUITY	$90M
Minority Interest	$0
TOTAL EQUITY	$90M
TOTAL LIABILITIES & EQUITY	$538M
Total Debt	$417M
Net Debt	$401M