PTEN FY 2010 Earnings Report — Patterson-UTI Energy, Inc. Revenue & Financial Results | Market Cap Arena

Patterson-UTI Energy, Inc.PTEN

FY 2010 Earnings

Reported February 14, 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	$1.5B	—	$782M	—	87.1%
Op. Income	$201M	—	-$48M	—	516.7%
Gross Margin	38.6%	—	39.1%	—	-0.4pp
Net Margin	8.0%	—	-4.9%	—	12.9pp
EPS (Diluted)	$0.76	—	$-0.25	—	404.0%
Free Cash Flow	-$212M	—	$1M	—	-20700.6%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$898M
GROSS PROFIT	$565M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$53M
SG&A Expenses	$53M
Other Expenses	$333M
Operating Expenses	$364M
Cost & Expenses	$1.3B
OPERATING INCOME	$201M
Interest Income	$2M
Interest Expense	$13M
Other Income/Expenses	-$10M
INCOME BEFORE TAX	$191M
Income Tax Expense	$73M
Net Income from Continuing Ops	$118M
Net Income from Discontinued Ops	$0
Other Adjustments	-$956.0K
NET INCOME	$117M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$116M
D&A	$333M
EBIT	$204M
EBITDA	$537M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$898M
GROSS PROFIT	$565M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$53M
SG&A Expenses	$53M
Other Expenses	$333M
Operating Expenses	$364M
Cost & Expenses	$1.3B
OPERATING INCOME	$201M
Interest Income	$2M
Interest Expense	$13M
Other Income/Expenses	-$10M
INCOME BEFORE TAX	$191M
Income Tax Expense	$73M
Net Income from Continuing Ops	$118M
Net Income from Discontinued Ops	$0
Other Adjustments	-$956.0K
NET INCOME	$117M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$116M
D&A	$333M
EBIT	$204M
EBITDA	$537M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$117M
Depreciation & Amortization	$333M
Stock-Based Compensation	$17M
Deferred Income Tax	$147M
Other Non-Cash Items	-$16M
Change in Working Capital	-$73M
OPERATING CASH FLOW	$526M
Capital Expenditure	-$738M
Acquisitions (Net)	-$238M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$72M
NET CASH FROM INVESTING	-$904M
Net Debt Issuance	$399M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$31M
Other Financing Activities	-$11M
NET CASH FROM FINANCING	$356M
FREE CASH FLOW	-$212M
Net Change in Cash	-$22M

Balance Sheet

Item	Amount
Cash & Equivalents	$28M
Short-Term Investments	$0
Net Receivables	$412M
Inventory	$17M
Other Current Assets	$100M
TOTAL CURRENT ASSETS	$557M
PP&E (Net)	$2.6B
Goodwill	$154M
Intangible Assets	$26M
Long-Term Investments	$51M
Tax Assets	$27M
Other Non-Current Assets	-$13M
TOTAL NON-CURRENT ASSETS	$2.9B
TOTAL ASSETS	$3.4B
Account Payables	$162M
Short-Term Debt	$6M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$316M
Long-Term Debt	$393M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$511M
Other Non-Current Liabilities	$16M
TOTAL NON-CURRENT LIABILITIES	$919M
TOTAL LIABILITIES	$1.2B
Common Stock	$2M
Additional Paid-In Capital	$797M
Retained Earnings	$2.0B
Treasury Stock	-$620M
Accum. Other Comp. Income	$22M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.2B
Minority Interest	$0
TOTAL EQUITY	$2.2B
TOTAL LIABILITIES & EQUITY	$3.4B
Total Debt	$399M
Net Debt	$371M