NOV FY 2007 Earnings Report — NOV Inc. Revenue & Financial Results | Market Cap Arena

FY 2007 Earnings

Reported February 29, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$9.8B	—	$7.0B	—	39.3%
Op. Income	$2.0B	—	$1.1B	—	84.0%
Gross Margin	28.9%	—	25.1%	—	3.9pp
Net Margin	13.7%	—	9.7%	—	3.9pp
EPS (Diluted)	$3.76	—	$1.94	—	93.8%
Free Cash Flow	$936M	—	$1.0B	—	-7.9%

Revenue Flow

Item	Amount
REVENUE	$9.8B
Cost of Revenue	$7.0B
GROSS PROFIT	$2.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$786M
Other Expenses	$0
Operating Expenses	$786M
Cost & Expenses	$7.7B
OPERATING INCOME	$2.0B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$16M
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$676M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$16M
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.3B
D&A	$214M
EBIT	$2.0B
EBITDA	$2.3B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$9.8B
Cost of Revenue	$7.0B
GROSS PROFIT	$2.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$786M
Other Expenses	$0
Operating Expenses	$786M
Cost & Expenses	$7.7B
OPERATING INCOME	$2.0B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$16M
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$676M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$16M
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.3B
D&A	$214M
EBIT	$2.0B
EBITDA	$2.3B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$1.3B
Depreciation & Amortization	$214M
Stock-Based Compensation	$43M
Deferred Income Tax	$21M
Other Non-Cash Items	$20M
Change in Working Capital	-$447M
OPERATING CASH FLOW	$1.2B
Capital Expenditure	-$252M
Acquisitions (Net)	-$324M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$800.0K
NET CASH FROM INVESTING	-$575M
Net Debt Issuance	$35M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$23M
NET CASH FROM FINANCING	$150M
FREE CASH FLOW	$936M
Net Change in Cash	$884M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.8B
Short-Term Investments	$0
Net Receivables	$2.7B
Inventory	$2.6B
Other Current Assets	$132M
TOTAL CURRENT ASSETS	$7.6B
PP&E (Net)	$1.2B
Goodwill	$2.4B
Intangible Assets	$774M
Long-Term Investments	$0
Tax Assets	$56M
Other Non-Current Assets	$49M
TOTAL NON-CURRENT ASSETS	$4.5B
TOTAL ASSETS	$12.1B
Account Payables	$716M
Short-Term Debt	$153M
Deferred Revenue	$0
Other Current Liabilities	$1.3B
TOTAL CURRENT LIABILITIES	$4.0B
Long-Term Debt	$738M
Deferred Revenue NC	$564M
Deferred Tax Liabilities	$564M
Other Non-Current Liabilities	$62M
TOTAL NON-CURRENT LIABILITIES	$1.4B
TOTAL LIABILITIES	$5.4B
Common Stock	$4M
Additional Paid-In Capital	$3.6B
Retained Earnings	$2.8B
Treasury Stock	$0
Accum. Other Comp. Income	$195M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.7B
Minority Interest	$63M
TOTAL EQUITY	$6.7B
TOTAL LIABILITIES & EQUITY	$12.1B
Total Debt	$891M
Net Debt	-$951M