SCCO FY 2008 Earnings Report — Southern Copper Corporation Revenue & Financial Results | Market Cap Arena

Southern Copper CorporationSCCO

FY 2008 Earnings

Reported March 2, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$4.9B	—	$6.1B	—	-20.3%
Op. Income	$2.2B	—	$3.5B	—	-37.0%
Gross Margin	47.5%	—	59.1%	—	-11.6pp
Net Margin	29.0%	—	36.4%	—	-7.4pp
EPS (Diluted)	$1.58	—	$2.48	—	-36.3%
Free Cash Flow	$1.2B	—	$2.4B	—	-49.6%

Revenue Flow

Item	Amount
REVENUE	$4.9B
Cost of Revenue	$2.5B
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$103M
Other Expenses	$0
Operating Expenses	$103M
Cost & Expenses	$2.6B
OPERATING INCOME	$2.2B
Interest Income	$48M
Interest Expense	$99M
Other Income/Expenses	-$108M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$679M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$327M
EBIT	$2.2B
EBITDA	$2.5B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.9B
Cost of Revenue	$2.5B
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$103M
Other Expenses	$0
Operating Expenses	$103M
Cost & Expenses	$2.6B
OPERATING INCOME	$2.2B
Interest Income	$48M
Interest Expense	$99M
Other Income/Expenses	-$108M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$679M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$327M
EBIT	$2.2B
EBITDA	$2.5B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.4B
Depreciation & Amortization	$327M
Stock-Based Compensation	$0
Deferred Income Tax	-$100M
Other Non-Cash Items	$55M
Change in Working Capital	$62M
OPERATING CASH FLOW	$1.7B
Capital Expenditure	-$517M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$45M
Other Investing Activities	$61M
NET CASH FROM INVESTING	-$411M
Net Debt Issuance	-$160M
Common Stock Repurchased	-$385M
Common Dividends Paid	-$1.7B
Other Financing Activities	-$9M
NET CASH FROM FINANCING	-$2.0B
FREE CASH FLOW	$1.2B
Net Change in Cash	-$693M

Balance Sheet

Item	Amount
Cash & Equivalents	$717M
Short-Term Investments	$62M
Net Receivables	$134M
Inventory	$452M
Other Current Assets	$189M
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$3.8B
Goodwill	$0
Intangible Assets	$253M
Long-Term Investments	$0
Tax Assets	$83M
Other Non-Current Assets	$202M
TOTAL NON-CURRENT ASSETS	$4.2B
TOTAL ASSETS	$5.8B
Account Payables	$413M
Short-Term Debt	$10M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$737M
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$169M
Other Non-Current Liabilities	$182M
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$2.4B
Common Stock	$9M
Additional Paid-In Capital	$994M
Retained Earnings	$2.9B
Treasury Stock	-$514M
Accum. Other Comp. Income	-$23M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.4B
Minority Interest	$14M
TOTAL EQUITY	$3.4B
TOTAL LIABILITIES & EQUITY	$5.8B
Total Debt	$1.3B
Net Debt	$573M