SENEA FY 2009 Earnings Report — Seneca Foods Corporation Revenue & Financial Results | Market Cap Arena

Seneca Foods CorporationSENEA

FY 2009 Earnings

Reported June 12, 2009

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	$1.3B	—	$1.1B	—	18.5%
Op. Income	$48M	—	$33M	—	47.7%
Gross Margin	9.3%	—	8.7%	—	0.6pp
Net Margin	1.5%	—	0.7%	—	0.7pp
EPS (Diluted)	$1.53	—	$0.65	—	135.4%
Free Cash Flow	$24M	—	-$39M	—	161.6%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$1.2B
GROSS PROFIT	$120M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$70M
Other Expenses	$2M
Operating Expenses	$71M
Cost & Expenses	$1.2B
OPERATING INCOME	$48M
Interest Income	$14.0K
Interest Expense	$14M
Other Income/Expenses	-$14M
INCOME BEFORE TAX	$34M
Income Tax Expense	$15M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$22M
EBIT	$48M
EBITDA	$70M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$1.2B
GROSS PROFIT	$120M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$70M
Other Expenses	$2M
Operating Expenses	$71M
Cost & Expenses	$1.2B
OPERATING INCOME	$48M
Interest Income	$14.0K
Interest Expense	$14M
Other Income/Expenses	-$14M
INCOME BEFORE TAX	$34M
Income Tax Expense	$15M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$22M
EBIT	$48M
EBITDA	$70M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$19M
Depreciation & Amortization	$22M
Stock-Based Compensation	$0
Deferred Income Tax	$5M
Other Non-Cash Items	$676.0K
Change in Working Capital	$1M
OPERATING CASH FLOW	$47M
Capital Expenditure	-$23M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$611.0K
NET CASH FROM INVESTING	-$23M
Net Debt Issuance	-$29M
Common Stock Repurchased	-$257.0K
Common Dividends Paid	$0
Other Financing Activities	$512.0K
NET CASH FROM FINANCING	-$29M
FREE CASH FLOW	$24M
Net Change in Cash	-$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$6M
Short-Term Investments	$0
Net Receivables	$77M
Inventory	$393M
Other Current Assets	$12M
TOTAL CURRENT ASSETS	$488M
PP&E (Net)	$179M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$7M
Other Non-Current Assets	$2M
TOTAL NON-CURRENT ASSETS	$188M
TOTAL ASSETS	$676M
Account Payables	$60M
Short-Term Debt	$39M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$156M
Long-Term Debt	$192M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$45M
TOTAL NON-CURRENT LIABILITIES	$237M
TOTAL LIABILITIES	$393M
Common Stock	$3M
Additional Paid-In Capital	$29M
Retained Earnings	$201M
Treasury Stock	-$257.0K
Accum. Other Comp. Income	-$19M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$282M
Minority Interest	$0
TOTAL EQUITY	$282M
TOTAL LIABILITIES & EQUITY	$676M
Total Debt	$231M
Net Debt	$225M