POR FY 2009 Earnings Report — Portland General Electric Company Revenue & Financial Results | Market Cap Arena

Portland General Electric CompanyPOR

FY 2009 Earnings

Reported February 25, 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	$1.8B	—	$1.7B	—	3.4%
Op. Income	$388M	—	$217M	—	78.8%
Gross Margin	36.1%	—	28.1%	—	8.0pp
Net Margin	5.3%	—	5.0%	—	0.3pp
EPS (Diluted)	$1.31	—	$1.39	—	-5.8%
Free Cash Flow	-$310M	—	-$200M	—	-55.0%

Revenue Flow

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.2B
GROSS PROFIT	$651M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$179M
Other Expenses	$84M
Operating Expenses	$263M
Cost & Expenses	$1.4B
OPERATING INCOME	$388M
Interest Income	$0
Interest Expense	$104M
Other Income/Expenses	-$263M
INCOME BEFORE TAX	$125M
Income Tax Expense	$36M
Net Income from Continuing Ops	$89M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$95M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$95M
D&A	$211M
EBIT	$229M
EBITDA	$440M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.2B
GROSS PROFIT	$651M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$179M
Other Expenses	$84M
Operating Expenses	$263M
Cost & Expenses	$1.4B
OPERATING INCOME	$388M
Interest Income	$0
Interest Expense	$104M
Other Income/Expenses	-$263M
INCOME BEFORE TAX	$125M
Income Tax Expense	$36M
Net Income from Continuing Ops	$89M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$95M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$95M
D&A	$211M
EBIT	$229M
EBITDA	$440M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$95M
Depreciation & Amortization	$211M
Stock-Based Compensation	$0
Deferred Income Tax	$82M
Other Non-Cash Items	-$79M
Change in Working Capital	$77M
OPERATING CASH FLOW	$386M
Capital Expenditure	-$696M
Acquisitions (Net)	$696M
Purchases of Investments	-$36M
Sales/Maturities of Investments	$36M
Other Investing Activities	-$700M
NET CASH FROM INVESTING	-$700M
Net Debt Issuance	$235M
Common Stock Repurchased	$0
Common Dividends Paid	-$72M
Other Financing Activities	$2M
NET CASH FROM FINANCING	$335M
FREE CASH FLOW	-$310M
Net Change in Cash	$21M

Balance Sheet

Item	Amount
Cash & Equivalents	$31M
Short-Term Investments	$0
Net Receivables	$254M
Inventory	$58M
Other Current Assets	$347M
TOTAL CURRENT ASSETS	$690M
PP&E (Net)	$3.9B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$97M
Tax Assets	$0
Other Non-Current Assets	$527M
TOTAL NON-CURRENT ASSETS	$4.5B
TOTAL ASSETS	$5.2B
Account Payables	$187M
Short-Term Debt	$186M
Deferred Revenue	$0
Other Current Liabilities	$228M
TOTAL CURRENT LIABILITIES	$620M
Long-Term Debt	$1.6B
Deferred Revenue NC	$893M
Deferred Tax Liabilities	$356M
Other Non-Current Liabilities	$202M
TOTAL NON-CURRENT LIABILITIES	$3.0B
TOTAL LIABILITIES	$3.6B
Common Stock	$0
Additional Paid-In Capital	$829M
Retained Earnings	$719M
Treasury Stock	$0
Accum. Other Comp. Income	-$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$1M
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$5.2B
Total Debt	$1.7B
Net Debt	$1.7B