NBR FY 2008 Earnings Report — Nabors Industries Ltd. Revenue & Financial Results | Market Cap Arena

Nabors Industries Ltd.NBR

FY 2008 Earnings

Reported March 31, 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	$5.3B	—	$4.9B	—	7.3%
Op. Income	$1.2B	—	$1.3B	—	-4.2%
Gross Margin	41.4%	—	44.0%	—	-2.7pp
Net Margin	10.4%	—	18.8%	—	-8.4pp
EPS (Diluted)	$82.50	—	$162.50	—	-49.2%
Free Cash Flow	-$44M	—	-$644M	—	93.1%

Revenue Flow

Item	Amount
REVENUE	$5.3B
Cost of Revenue	$3.1B
GROSS PROFIT	$2.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$480M
SG&A Expenses	$480M
Other Expenses	$658M
Operating Expenses	$1.1B
Cost & Expenses	$4.2B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$416M
Other Income/Expenses	-$373M
INCOME BEFORE TAX	$802M
Income Tax Expense	$250M
Net Income from Continuing Ops	$480M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$551M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$476M
D&A	$668M
EBIT	$883M
EBITDA	$1.5B
EPS	$85
EPS Diluted	$83

Income Statement

Item	Amount
REVENUE	$5.3B
Cost of Revenue	$3.1B
GROSS PROFIT	$2.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$480M
SG&A Expenses	$480M
Other Expenses	$658M
Operating Expenses	$1.1B
Cost & Expenses	$4.2B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$416M
Other Income/Expenses	-$373M
INCOME BEFORE TAX	$802M
Income Tax Expense	$250M
Net Income from Continuing Ops	$480M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$551M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$476M
D&A	$668M
EBIT	$883M
EBITDA	$1.5B
EPS	$85
EPS Diluted	$83

Cash Flow Statement

Item	Amount
Net Income	$551M
Depreciation & Amortization	$668M
Stock-Based Compensation	$45M
Deferred Income Tax	$62M
Other Non-Cash Items	$398M
Change in Working Capital	-$279M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$1.5B
Acquisitions (Net)	-$287.0K
Purchases of Investments	-$541M
Sales/Maturities of Investments	$522M
Other Investing Activities	$70M
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	$143M
Common Stock Repurchased	-$294M
Common Dividends Paid	$0
Other Financing Activities	$5M
NET CASH FROM FINANCING	-$89M
FREE CASH FLOW	-$44M
Net Change in Cash	-$89M

Balance Sheet

Item	Amount
Cash & Equivalents	$442M
Short-Term Investments	$142M
Net Receivables	$1.2B
Inventory	$150M
Other Current Assets	$271M
TOTAL CURRENT ASSETS	$2.2B
PP&E (Net)	$7.3B
Goodwill	$176M
Intangible Assets	$0
Long-Term Investments	$240M
Tax Assets	$28M
Other Non-Current Assets	$576M
TOTAL NON-CURRENT ASSETS	$8.3B
TOTAL ASSETS	$10.5B
Account Payables	$425M
Short-Term Debt	$225M
Deferred Revenue	$367M
Other Current Liabilities	-$72M
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$3.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$497M
Other Non-Current Liabilities	$262M
TOTAL NON-CURRENT LIABILITIES	$4.6B
TOTAL LIABILITIES	$5.8B
Common Stock	$312.0K
Additional Paid-In Capital	$2.1B
Retained Earnings	$3.9B
Treasury Stock	-$978M
Accum. Other Comp. Income	$54M
Other Equity	-$212M
TOTAL STOCKHOLDERS' EQUITY	$4.7B
Minority Interest	$0
TOTAL EQUITY	$4.7B
TOTAL LIABILITIES & EQUITY	$10.5B
Total Debt	$4.1B
Net Debt	$3.7B