NOK FY 2009 Earnings Report — Nokia Oyj Revenue & Financial Results | Market Cap Arena

FY 2009 Earnings

Reported March 12, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$48.0B	—	$59.4B	—	-19.2%
Op. Income	$1.4B	—	$5.8B	—	-75.9%
Gross Margin	32.4%	—	34.3%	—	-1.9pp
Net Margin	2.2%	—	7.9%	—	-5.7pp
EPS (Diluted)	$0.28	—	$1.24	—	-77.4%
Free Cash Flow	$3.1B	—	$2.6B	—	23.2%

Revenue Flow

Item	Amount
REVENUE	$48.0B
Cost of Revenue	$32.5B
GROSS PROFIT	$15.5B
R&D Expenses	$6.9B
Selling & Marketing	$4.6B
General & Administrative	$1.3B
SG&A Expenses	$5.9B
Other Expenses	$1.3B
Operating Expenses	$14.1B
Cost & Expenses	$46.6B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$310M
Other Income/Expenses	-$275M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$822M
Net Income from Continuing Ops	$304M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$2.1B
EBIT	$1.4B
EBITDA	$3.5B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$48.0B
Cost of Revenue	$32.5B
GROSS PROFIT	$15.5B
R&D Expenses	$6.9B
Selling & Marketing	$4.6B
General & Administrative	$1.3B
SG&A Expenses	$5.9B
Other Expenses	$1.3B
Operating Expenses	$14.1B
Cost & Expenses	$46.6B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$310M
Other Income/Expenses	-$275M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$822M
Net Income from Continuing Ops	$304M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$2.1B
EBIT	$1.4B
EBITDA	$3.5B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$1.0B
Depreciation & Amortization	$2.1B
Stock-Based Compensation	$19M
Deferred Income Tax	-$2.4B
Other Non-Cash Items	$2.9B
Change in Working Capital	$164M
OPERATING CASH FLOW	$3.8B
Capital Expenditure	-$653M
Acquisitions (Net)	$49M
Purchases of Investments	-$4.2B
Sales/Maturities of Investments	$2.2B
Other Investing Activities	$119M
NET CASH FROM INVESTING	-$2.5B
Net Debt Issuance	$995M
Common Stock Repurchased	$0
Common Dividends Paid	-$1.8B
Other Financing Activities	$0
NET CASH FROM FINANCING	-$815M
FREE CASH FLOW	$3.1B
Net Change in Cash	$443M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$9.4B
Net Receivables	$9.4B
Inventory	$2.2B
Other Current Assets	-$10.5B
TOTAL CURRENT ASSETS	$27.6B
PP&E (Net)	$2.2B
Goodwill	$6.1B
Intangible Assets	$3.4B
Long-Term Investments	$730M
Tax Assets	$1.8B
Other Non-Current Assets	$61M
TOTAL NON-CURRENT ASSETS	$14.2B
TOTAL ASSETS	$41.8B
Account Payables	$5.8B
Short-Term Debt	$1.2B
Deferred Revenue	$10.5B
Other Current Liabilities	-$7.9B
TOTAL CURRENT LIABILITIES	$17.8B
Long-Term Debt	$5.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.5B
Other Non-Current Liabilities	$11.2B
TOTAL NON-CURRENT LIABILITIES	$6.8B
TOTAL LIABILITIES	$24.6B
Common Stock	$288M
Additional Paid-In Capital	$615M
Retained Earnings	$11.9B
Treasury Stock	-$797M
Accum. Other Comp. Income	-$149M
Other Equity	-$3.8B
TOTAL STOCKHOLDERS' EQUITY	$15.3B
Minority Interest	$1.9B
TOTAL EQUITY	$17.3B
TOTAL LIABILITIES & EQUITY	$41.8B
Total Debt	$6.4B
Net Debt	$5.0B