PDS FY 2012 Earnings Report — Precision Drilling Corporation Revenue & Financial Results | Market Cap Arena

Precision Drilling CorporationPDS

FY 2012 Earnings

Reported December 31, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$1.5B	—	$1.4B	—	4.6%
Op. Income	$125M	—	$240M	—	-48.0%
Gross Margin	24.0%	—	42.0%	—	-18.0pp
Net Margin	2.6%	—	9.9%	—	-7.4pp
EPS (Diluted)	$2.63	—	$9.80	—	-73.1%
Free Cash Flow	-$170M	—	-$142M	—	-20.2%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$1.1B
GROSS PROFIT	$358M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$93M
SG&A Expenses	$93M
Other Expenses	$141M
Operating Expenses	$233M
Cost & Expenses	$1.4B
OPERATING INCOME	$125M
Interest Income	$1M
Interest Expense	$66M
Other Income/Expenses	-$105M
INCOME BEFORE TAX	$20M
Income Tax Expense	-$18M
Net Income from Continuing Ops	$38M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$38M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$38M
D&A	$225M
EBIT	$83M
EBITDA	$350M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$1.1B
GROSS PROFIT	$358M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$93M
SG&A Expenses	$93M
Other Expenses	$141M
Operating Expenses	$233M
Cost & Expenses	$1.4B
OPERATING INCOME	$125M
Interest Income	$1M
Interest Expense	$66M
Other Income/Expenses	-$105M
INCOME BEFORE TAX	$20M
Income Tax Expense	-$18M
Net Income from Continuing Ops	$38M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$38M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$38M
D&A	$225M
EBIT	$83M
EBITDA	$350M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$38M
Depreciation & Amortization	$225M
Stock-Based Compensation	$14M
Deferred Income Tax	-$18M
Other Non-Cash Items	$179M
Change in Working Capital	$27M
OPERATING CASH FLOW	$465M
Capital Expenditure	-$635M
Acquisitions (Net)	-$18.3K
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$45M
NET CASH FROM INVESTING	-$680M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$10M
Other Financing Activities	-$788.5K
NET CASH FROM FINANCING	-$11M
FREE CASH FLOW	-$170M
Net Change in Cash	-$230M

Balance Sheet

Item	Amount
Cash & Equivalents	$112M
Short-Term Investments	$0
Net Receivables	$373M
Inventory	$10M
Other Current Assets	$41M
TOTAL CURRENT ASSETS	$495M
PP&E (Net)	$2.4B
Goodwill	$227M
Intangible Assets	$4M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$47M
TOTAL NON-CURRENT ASSETS	$2.7B
TOTAL ASSETS	$3.1B
Account Payables	$107M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$291M
Long-Term Debt	$891M
Deferred Revenue NC	-$1.1B
Deferred Tax Liabilities	$355M
Other Non-Current Liabilities	$19M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$1.6B
Common Stock	$1.6B
Additional Paid-In Capital	$18M
Retained Earnings	-$33M
Treasury Stock	$0
Accum. Other Comp. Income	-$44M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$0
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$3.1B
Total Debt	$891M
Net Debt	$780M