QVCGA FY 2005 Earnings Report — QVC Group Inc. Revenue & Financial Results | Market Cap Arena

QVC Group Inc.QVCGA

FY 2005 Earnings

Reported December 31, 2005

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2005	Prior Q	FY 2004	QoQ Change	YoY Change
Revenue	$6.5B	—	—	—	—
Op. Income	$916M	—	—	—	—
Gross Margin	28.0%	—	—	—	—
Net Margin	4.6%	—	—	—	—
EPS (Diluted)	$5.50	—	—	—	—
Free Cash Flow	$601M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$6.5B
Cost of Revenue	$4.7B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$454M
Other Expenses	$449M
Operating Expenses	$903M
Cost & Expenses	$5.6B
OPERATING INCOME	$916M
Interest Income	$35M
Interest Expense	$371M
Other Income/Expenses	-$345M
INCOME BEFORE TAX	$571M
Income Tax Expense	$225M
Net Income from Continuing Ops	$346M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$298M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$298M
D&A	$449M
EBIT	$916M
EBITDA	$1.4B
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$6.5B
Cost of Revenue	$4.7B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$454M
Other Expenses	$449M
Operating Expenses	$903M
Cost & Expenses	$5.6B
OPERATING INCOME	$916M
Interest Income	$35M
Interest Expense	$371M
Other Income/Expenses	-$345M
INCOME BEFORE TAX	$571M
Income Tax Expense	$225M
Net Income from Continuing Ops	$346M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$298M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$298M
D&A	$449M
EBIT	$916M
EBITDA	$1.4B
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$298M
Depreciation & Amortization	$449M
Stock-Based Compensation	$0
Deferred Income Tax	-$185M
Other Non-Cash Items	$109M
Change in Working Capital	$83M
OPERATING CASH FLOW	$754M
Capital Expenditure	-$153M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$18M
NET CASH FROM INVESTING	-$171M
Net Debt Issuance	-$934M
Common Stock Repurchased	-$85M
Common Dividends Paid	$0
Other Financing Activities	$571M
NET CASH FROM FINANCING	-$448M
FREE CASH FLOW	$601M
Net Change in Cash	$90M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.6B
Short-Term Investments	$0
Net Receivables	$885M
Inventory	$575M
Other Current Assets	$1.1B
TOTAL CURRENT ASSETS	$4.1B
PP&E (Net)	$905M
Goodwill	$5.6B
Intangible Assets	$5.1B
Long-Term Investments	$3.3B
Tax Assets	$0
Other Non-Current Assets	$14.5B
TOTAL NON-CURRENT ASSETS	$29.4B
TOTAL ASSETS	$33.6B
Account Payables	$413M
Short-Term Debt	$1.1B
Deferred Revenue	$0
Other Current Liabilities	$1.8B
TOTAL CURRENT LIABILITIES	$4.2B
Long-Term Debt	$5.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$7.0B
Other Non-Current Liabilities	$1.7B
TOTAL NON-CURRENT LIABILITIES	$13.8B
TOTAL LIABILITIES	$18.0B
Common Stock	$23M
Additional Paid-In Capital	$23.3B
Retained Earnings	-$10.6B
Treasury Stock	-$100M
Accum. Other Comp. Income	$2.7B
Other Equity	-$1M
TOTAL STOCKHOLDERS' EQUITY	$15.3B
Minority Interest	$232M
TOTAL EQUITY	$15.5B
TOTAL LIABILITIES & EQUITY	$33.6B
Total Debt	$6.2B
Net Debt	$4.6B