NOK FY 2010 Earnings Report — Nokia Oyj Revenue & Financial Results | Market Cap Arena

FY 2010 Earnings

Reported March 11, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$49.7B	—	$48.0B	—	3.6%
Op. Income	$2.4B	—	$1.4B	—	72.9%
Gross Margin	30.6%	—	32.4%	—	-1.8pp
Net Margin	4.4%	—	2.2%	—	2.2pp
EPS (Diluted)	$0.42	—	$0.28	—	50.0%
Free Cash Flow	$4.8B	—	$3.1B	—	52.3%

Revenue Flow

Item	Amount
REVENUE	$49.7B
Cost of Revenue	$34.5B
GROSS PROFIT	$15.2B
R&D Expenses	$6.8B
Selling & Marketing	$4.5B
General & Administrative	$1.2B
SG&A Expenses	$5.7B
Other Expenses	$212M
Operating Expenses	$12.8B
Cost & Expenses	$47.3B
OPERATING INCOME	$2.4B
Interest Income	$162M
Interest Expense	$334M
Other Income/Expenses	-$333M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$519M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.2B
D&A	$2.1B
EBIT	$2.4B
EBITDA	$4.5B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$49.7B
Cost of Revenue	$34.5B
GROSS PROFIT	$15.2B
R&D Expenses	$6.8B
Selling & Marketing	$4.5B
General & Administrative	$1.2B
SG&A Expenses	$5.7B
Other Expenses	$212M
Operating Expenses	$12.8B
Cost & Expenses	$47.3B
OPERATING INCOME	$2.4B
Interest Income	$162M
Interest Expense	$334M
Other Income/Expenses	-$333M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$519M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.2B
D&A	$2.1B
EBIT	$2.4B
EBITDA	$4.5B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$2.2B
Depreciation & Amortization	$2.1B
Stock-Based Compensation	$55M
Deferred Income Tax	-$2.9B
Other Non-Cash Items	$1.4B
Change in Working Capital	$2.8B
OPERATING CASH FLOW	$5.6B
Capital Expenditure	-$795M
Acquisitions (Net)	-$21M
Purchases of Investments	-$10.9B
Sales/Maturities of Investments	$8.9B
Other Investing Activities	$26M
NET CASH FROM INVESTING	-$2.8B
Net Debt Issuance	$711M
Common Stock Repurchased	$0
Common Dividends Paid	-$1.8B
Other Financing Activities	$0
NET CASH FROM FINANCING	-$1.1B
FREE CASH FLOW	$4.8B
Net Change in Cash	$2.0B

Balance Sheet

Item	Amount
Cash & Equivalents	$2.3B
Short-Term Investments	$12.5B
Net Receivables	$8.9B
Inventory	$3.0B
Other Current Assets	-$13.3B
TOTAL CURRENT ASSETS	$31.8B
PP&E (Net)	$2.3B
Goodwill	$6.7B
Intangible Assets	$2.3B
Long-Term Investments	$783M
Tax Assets	$1.9B
Other Non-Current Assets	$80M
TOTAL NON-CURRENT ASSETS	$14.0B
TOTAL ASSETS	$45.8B
Account Payables	$7.1B
Short-Term Debt	$1.7B
Deferred Revenue	$11.1B
Other Current Liabilities	-$9.1B
TOTAL CURRENT LIABILITIES	$20.5B
Long-Term Debt	$5.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.2B
Other Non-Current Liabilities	$12.3B
TOTAL NON-CURRENT LIABILITIES	$6.3B
TOTAL LIABILITIES	$26.8B
Common Stock	$288M
Additional Paid-In Capital	$653M
Retained Earnings	$12.3B
Treasury Stock	-$776M
Accum. Other Comp. Income	$966M
Other Equity	-$7.4B
TOTAL STOCKHOLDERS' EQUITY	$16.8B
Minority Interest	$2.2B
TOTAL EQUITY	$19.0B
TOTAL LIABILITIES & EQUITY	$45.8B
Total Debt	$6.7B
Net Debt	$4.4B