SENEA FY 2013 Earnings Report — Seneca Foods Corporation Revenue & Financial Results | Market Cap Arena

Seneca Foods CorporationSENEA

FY 2013 Earnings

Reported May 23, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.3B	—	1.5%
Op. Income	$71M	—	$26M	—	176.8%
Gross Margin	11.1%	—	7.4%	—	3.7pp
Net Margin	3.2%	—	0.9%	—	2.3pp
EPS (Diluted)	$3.57	—	$0.92	—	288.0%
Free Cash Flow	$15M	—	$14M	—	1.0%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$1.1B
GROSS PROFIT	$141M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$69M
Other Expenses	$2M
Operating Expenses	$70M
Cost & Expenses	$1.2B
OPERATING INCOME	$71M
Interest Income	$179.0K
Interest Expense	$8M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$63M
Income Tax Expense	$22M
Net Income from Continuing Ops	$41M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$41M
Net Income Deductions	-$20.0K
BOTTOM LINE NET INCOME	$40M
D&A	$23M
EBIT	$71M
EBITDA	$94M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$1.1B
GROSS PROFIT	$141M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$69M
Other Expenses	$2M
Operating Expenses	$70M
Cost & Expenses	$1.2B
OPERATING INCOME	$71M
Interest Income	$179.0K
Interest Expense	$8M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$63M
Income Tax Expense	$22M
Net Income from Continuing Ops	$41M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$41M
Net Income Deductions	-$20.0K
BOTTOM LINE NET INCOME	$40M
D&A	$23M
EBIT	$71M
EBITDA	$94M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$41M
Depreciation & Amortization	$23M
Stock-Based Compensation	$0
Deferred Income Tax	-$3M
Other Non-Cash Items	$1M
Change in Working Capital	-$32M
OPERATING CASH FLOW	$31M
Capital Expenditure	-$16M
Acquisitions (Net)	-$5M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$10M
NET CASH FROM INVESTING	-$11M
Net Debt Issuance	$14M
Common Stock Repurchased	-$30M
Common Dividends Paid	$0
Other Financing Activities	$276.0K
NET CASH FROM FINANCING	-$15M
FREE CASH FLOW	$15M
Net Change in Cash	$5M

Balance Sheet

Item	Amount
Cash & Equivalents	$14M
Short-Term Investments	$0
Net Receivables	$78M
Inventory	$480M
Other Current Assets	$35M
TOTAL CURRENT ASSETS	$607M
PP&E (Net)	$188M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$2M
Other Non-Current Assets	$1M
TOTAL NON-CURRENT ASSETS	$192M
TOTAL ASSETS	$798M
Account Payables	$72M
Short-Term Debt	$40M
Deferred Revenue	$0
Other Current Liabilities	$11M
TOTAL CURRENT LIABILITIES	$160M
Long-Term Debt	$230M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$41M
TOTAL NON-CURRENT LIABILITIES	$271M
TOTAL LIABILITIES	$431M
Common Stock	$3M
Additional Paid-In Capital	$93M
Retained Earnings	$319M
Treasury Stock	-$31M
Accum. Other Comp. Income	-$23M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$367M
Minority Interest	$0
TOTAL EQUITY	$367M
TOTAL LIABILITIES & EQUITY	$798M
Total Debt	$270M
Net Debt	$256M