PDS FY 2013 Earnings Report — Precision Drilling Corporation Revenue & Financial Results | Market Cap Arena

Precision Drilling CorporationPDS

FY 2013 Earnings

Reported December 31, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$1.5B	—	$1.5B	—	-0.5%
Op. Income	$224M	—	$125M	—	79.0%
Gross Margin	22.1%	—	24.0%	—	-1.9pp
Net Margin	9.4%	—	2.6%	—	6.9pp
EPS (Diluted)	$9.65	—	$2.63	—	266.7%
Free Cash Flow	-$79M	—	-$170M	—	53.7%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$1.2B
GROSS PROFIT	$328M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$104M
SG&A Expenses	$104M
Other Expenses	$0
Operating Expenses	$104M
Cost & Expenses	$1.3B
OPERATING INCOME	$224M
Interest Income	$665.7K
Interest Expense	$65M
Other Income/Expenses	-$62M
INCOME BEFORE TAX	$162M
Income Tax Expense	$22M
Net Income from Continuing Ops	$140M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$140M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$140M
D&A	$244M
EBIT	$224M
EBITDA	$466M
EPS	$10
EPS Diluted	$10

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$1.2B
GROSS PROFIT	$328M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$104M
SG&A Expenses	$104M
Other Expenses	$0
Operating Expenses	$104M
Cost & Expenses	$1.3B
OPERATING INCOME	$224M
Interest Income	$665.7K
Interest Expense	$65M
Other Income/Expenses	-$62M
INCOME BEFORE TAX	$162M
Income Tax Expense	$22M
Net Income from Continuing Ops	$140M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$140M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$140M
D&A	$244M
EBIT	$224M
EBITDA	$466M
EPS	$10
EPS Diluted	$10

Cash Flow Statement

Item	Amount
Net Income	$140M
Depreciation & Amortization	$244M
Stock-Based Compensation	$15M
Deferred Income Tax	$22M
Other Non-Cash Items	-$83M
Change in Working Capital	-$25M
OPERATING CASH FLOW	$313M
Capital Expenditure	-$392M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$7M
NET CASH FROM INVESTING	-$385M
Net Debt Issuance	$22M
Common Stock Repurchased	$0
Common Dividends Paid	-$43M
Other Financing Activities	$36M
NET CASH FROM FINANCING	$16M
FREE CASH FLOW	-$79M
Net Change in Cash	-$53M

Balance Sheet

Item	Amount
Cash & Equivalents	$59M
Short-Term Investments	$0
Net Receivables	$342M
Inventory	$9M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$470M
PP&E (Net)	$2.6B
Goodwill	$228M
Intangible Assets	$3M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$43M
TOTAL NON-CURRENT ASSETS	$2.9B
TOTAL ASSETS	$3.3B
Account Payables	$108M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$3M
TOTAL CURRENT LIABILITIES	$246M
Long-Term Debt	$968M
Deferred Revenue NC	-$1.2B
Deferred Tax Liabilities	$356M
Other Non-Current Liabilities	$380M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$1.6B
Common Stock	$1.7B
Additional Paid-In Capital	$21M
Retained Earnings	$65M
Treasury Stock	$0
Accum. Other Comp. Income	-$17M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.8B
Minority Interest	$0
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$3.3B
Total Debt	$968M
Net Debt	$909M