MZTI FY 2008 Earnings Report — The Marzetti Company Revenue & Financial Results | Market Cap Arena

The Marzetti CompanyMZTI

FY 2008 Earnings

Reported August 29, 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	$981M	—	$1.1B	—	-10.1%
Op. Income	$75M	—	$100M	—	-25.0%
Gross Margin	16.0%	—	17.7%	—	-1.7pp
Net Margin	3.8%	—	4.2%	—	-0.4pp
EPS (Diluted)	$1.28	—	$1.45	—	-11.7%
Free Cash Flow	$76M	—	$38M	—	99.5%

Revenue Flow

Item	Amount
REVENUE	$981M
Cost of Revenue	$824M
GROSS PROFIT	$157M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$81M
Other Expenses	$0
Operating Expenses	$81M
Cost & Expenses	$904M
OPERATING INCOME	$75M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$331.0K
INCOME BEFORE TAX	$76M
Income Tax Expense	$27M
Net Income from Continuing Ops	$48M
Net Income from Discontinued Ops	$0
Other Adjustments	-$11M
NET INCOME	$38M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$38M
D&A	$24M
EBIT	$77M
EBITDA	$101M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$981M
Cost of Revenue	$824M
GROSS PROFIT	$157M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$81M
Other Expenses	$0
Operating Expenses	$81M
Cost & Expenses	$904M
OPERATING INCOME	$75M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$331.0K
INCOME BEFORE TAX	$76M
Income Tax Expense	$27M
Net Income from Continuing Ops	$48M
Net Income from Discontinued Ops	$0
Other Adjustments	-$11M
NET INCOME	$38M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$38M
D&A	$24M
EBIT	$77M
EBITDA	$101M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$38M
Depreciation & Amortization	$24M
Stock-Based Compensation	$0
Deferred Income Tax	$5M
Other Non-Cash Items	$42M
Change in Working Capital	-$15M
OPERATING CASH FLOW	$93M
Capital Expenditure	-$17M
Acquisitions (Net)	$19M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$25M
NET CASH FROM INVESTING	$27M
Net Debt Issuance	$13M
Common Stock Repurchased	-$89M
Common Dividends Paid	-$33M
Other Financing Activities	-$604.0K
NET CASH FROM FINANCING	-$109M
FREE CASH FLOW	$76M
Net Change in Cash	$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$19M
Short-Term Investments	$0
Net Receivables	$59M
Inventory	$120M
Other Current Assets	$35M
TOTAL CURRENT ASSETS	$234M
PP&E (Net)	$180M
Goodwill	$90M
Intangible Assets	$12M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$5M
TOTAL NON-CURRENT ASSETS	$287M
TOTAL ASSETS	$520M
Account Payables	$46M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$89M
Long-Term Debt	$55M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$17M
TOTAL NON-CURRENT LIABILITIES	$72M
TOTAL LIABILITIES	$161M
Common Stock	$83M
Additional Paid-In Capital	$0
Retained Earnings	$941M
Treasury Stock	-$659M
Accum. Other Comp. Income	-$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$359M
Minority Interest	$0
TOTAL EQUITY	$359M
TOTAL LIABILITIES & EQUITY	$520M
Total Debt	$55M
Net Debt	$36M