SFD FY 1999 Earnings Report — Smithfield Foods, Inc. Revenue & Financial Results | Market Cap Arena

Smithfield Foods, Inc.SFD

FY 1999 Earnings

Reported July 28, 2000

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 1999	Prior Q	FY 1998	QoQ Change	YoY Change
Revenue	$5.2B	—	—	—	—
Op. Income	$194M	—	—	—	—
Gross Margin	13.7%	—	—	—	—
Net Margin	1.5%	—	—	—	—
EPS (Diluted)	$1.52	—	—	—	—
Free Cash Flow	$25M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$5.2B
Cost of Revenue	$4.4B
GROSS PROFIT	$703M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$391M
Other Expenses	$119M
Operating Expenses	$510M
Cost & Expenses	$5.0B
OPERATING INCOME	$194M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$74M
INCOME BEFORE TAX	$120M
Income Tax Expense	$45M
Net Income from Continuing Ops	$75M
Net Income from Discontinued Ops	$0
Other Adjustments	$2M
NET INCOME	$75M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$75M
D&A	$119M
EBIT	$194M
EBITDA	$313M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$5.2B
Cost of Revenue	$4.4B
GROSS PROFIT	$703M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$391M
Other Expenses	$119M
Operating Expenses	$510M
Cost & Expenses	$5.0B
OPERATING INCOME	$194M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$74M
INCOME BEFORE TAX	$120M
Income Tax Expense	$45M
Net Income from Continuing Ops	$75M
Net Income from Discontinued Ops	$0
Other Adjustments	$2M
NET INCOME	$75M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$75M
D&A	$119M
EBIT	$194M
EBITDA	$313M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$75M
Depreciation & Amortization	$119M
Stock-Based Compensation	$0
Deferred Income Tax	$13M
Other Non-Cash Items	-$3M
Change in Working Capital	-$79M
OPERATING CASH FLOW	$125M
Capital Expenditure	-$100M
Acquisitions (Net)	-$35M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$57M
NET CASH FROM INVESTING	-$192M
Net Debt Issuance	$156M
Common Stock Repurchased	-$73M
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	$87M
FREE CASH FLOW	$25M
Net Change in Cash	$19M

Balance Sheet

Item	Amount
Cash & Equivalents	$50M
Short-Term Investments	$0
Net Receivables	$390M
Inventory	$665M
Other Current Assets	$128M
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$1.2B
Goodwill	$0
Intangible Assets	$320M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$363M
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$3.1B
Account Payables	$270M
Short-Term Debt	$113M
Deferred Revenue	$0
Other Current Liabilities	$239M
TOTAL CURRENT LIABILITIES	$623M
Long-Term Debt	$1.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$274M
Other Non-Current Liabilities	$109M
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$2.2B
Common Stock	$27M
Additional Paid-In Capital	$474M
Retained Earnings	$415M
Treasury Stock	$0
Accum. Other Comp. Income	-$14M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$903M
Minority Interest	$33M
TOTAL EQUITY	$936M
TOTAL LIABILITIES & EQUITY	$3.1B
Total Debt	$1.3B
Net Debt	$1.3B