NOK FY 2008 Earnings Report — Nokia Oyj Revenue & Financial Results | Market Cap Arena

FY 2008 Earnings

Reported March 5, 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	$59.4B	—	$59.8B	—	-0.7%
Op. Income	$5.8B	—	$9.4B	—	-37.8%
Gross Margin	34.3%	—	33.8%	—	0.4pp
Net Margin	7.9%	—	14.1%	—	-6.2pp
EPS (Diluted)	$1.24	—	$2.15	—	-42.4%
Free Cash Flow	$2.6B	—	$8.2B	—	-68.9%

Revenue Flow

Item	Amount
REVENUE	$59.4B
Cost of Revenue	$39.0B
GROSS PROFIT	$20.3B
R&D Expenses	$7.0B
Selling & Marketing	$5.1B
General & Administrative	$1.5B
SG&A Expenses	$6.6B
Other Expenses	$907M
Operating Expenses	$14.5B
Cost & Expenses	$53.6B
OPERATING INCOME	$5.8B
Interest Income	$0
Interest Expense	$2M
Other Income/Expenses	$5M
INCOME BEFORE TAX	$5.8B
Income Tax Expense	$1.3B
Net Income from Continuing Ops	$4.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$4.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.7B
D&A	$1.9B
EBIT	$5.8B
EBITDA	$7.7B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$59.4B
Cost of Revenue	$39.0B
GROSS PROFIT	$20.3B
R&D Expenses	$7.0B
Selling & Marketing	$5.1B
General & Administrative	$1.5B
SG&A Expenses	$6.6B
Other Expenses	$907M
Operating Expenses	$14.5B
Cost & Expenses	$53.6B
OPERATING INCOME	$5.8B
Interest Income	$0
Interest Expense	$2M
Other Income/Expenses	$5M
INCOME BEFORE TAX	$5.8B
Income Tax Expense	$1.3B
Net Income from Continuing Ops	$4.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$4.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.7B
D&A	$1.9B
EBIT	$5.8B
EBITDA	$7.7B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$4.7B
Depreciation & Amortization	$1.9B
Stock-Based Compensation	$87M
Deferred Income Tax	$0
Other Non-Cash Items	$162M
Change in Working Capital	-$3.0B
OPERATING CASH FLOW	$3.8B
Capital Expenditure	-$1.2B
Acquisitions (Net)	-$6.9B
Purchases of Investments	-$956M
Sales/Maturities of Investments	$5.5B
Other Investing Activities	$203M
NET CASH FROM INVESTING	-$3.4B
Net Debt Issuance	$4.2B
Common Stock Repurchased	-$3.7B
Common Dividends Paid	-$2.4B
Other Financing Activities	$62M
NET CASH FROM FINANCING	-$1.8B
FREE CASH FLOW	$2.6B
Net Change in Cash	-$1.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$6.5B
Short-Term Investments	$1.5B
Net Receivables	$11.2B
Inventory	$3.0B
Other Current Assets	$1.2B
TOTAL CURRENT ASSETS	$28.7B
PP&E (Net)	$2.5B
Goodwill	$7.3B
Intangible Assets	$4.9B
Long-Term Investments	$712M
Tax Assets	$2.3B
Other Non-Current Assets	$46M
TOTAL NON-CURRENT ASSETS	$17.7B
TOTAL ASSETS	$46.5B
Account Payables	$6.1B
Short-Term Debt	$4.2B
Deferred Revenue	$8.2B
Other Current Liabilities	$5.3B
TOTAL CURRENT LIABILITIES	$23.9B
Long-Term Debt	$1.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2.1B
Other Non-Current Liabilities	$13.6B
TOTAL NON-CURRENT LIABILITIES	$3.2B
TOTAL LIABILITIES	$27.1B
Common Stock	$289M
Additional Paid-In Capital	$518M
Retained Earnings	$13.7B
Treasury Stock	-$2.2B
Accum. Other Comp. Income	$4.4B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$16.7B
Minority Interest	$2.7B
TOTAL EQUITY	$19.4B
TOTAL LIABILITIES & EQUITY	$46.5B
Total Debt	$5.2B
Net Debt	-$1.3B