SFD FY 2000 Earnings Report — Smithfield Foods, Inc. Revenue & Financial Results | Market Cap Arena

Smithfield Foods, Inc.SFD

FY 2000 Earnings

Reported April 30, 2001

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2000	Prior Q	FY 1999	QoQ Change	YoY Change
Revenue	$5.9B	—	$5.2B	—	14.6%
Op. Income	$358M	—	$194M	—	84.9%
Gross Margin	16.3%	—	13.7%	—	2.7pp
Net Margin	3.8%	—	1.5%	—	2.3pp
EPS (Diluted)	$4.06	—	$1.52	—	167.1%
Free Cash Flow	$74M	—	$25M	—	198.6%

Revenue Flow

Item	Amount
REVENUE	$5.9B
Cost of Revenue	$4.9B
GROSS PROFIT	$964M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$451M
Other Expenses	$155M
Operating Expenses	$606M
Cost & Expenses	$5.5B
OPERATING INCOME	$358M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$570.0K
INCOME BEFORE TAX	$357M
Income Tax Expense	$134M
Net Income from Continuing Ops	$224M
Net Income from Discontinued Ops	$0
Other Adjustments	$6M
NET INCOME	$224M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$224M
D&A	$140M
EBIT	$373M
EBITDA	$513M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$5.9B
Cost of Revenue	$4.9B
GROSS PROFIT	$964M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$451M
Other Expenses	$155M
Operating Expenses	$606M
Cost & Expenses	$5.5B
OPERATING INCOME	$358M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$570.0K
INCOME BEFORE TAX	$357M
Income Tax Expense	$134M
Net Income from Continuing Ops	$224M
Net Income from Discontinued Ops	$0
Other Adjustments	$6M
NET INCOME	$224M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$224M
D&A	$140M
EBIT	$373M
EBITDA	$513M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$224M
Depreciation & Amortization	$140M
Stock-Based Compensation	$0
Deferred Income Tax	-$7M
Other Non-Cash Items	-$82M
Change in Working Capital	-$56M
OPERATING CASH FLOW	$218M
Capital Expenditure	-$144M
Acquisitions (Net)	-$30M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$114M
NET CASH FROM INVESTING	-$60M
Net Debt Issuance	-$83M
Common Stock Repurchased	-$78M
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	-$152M
FREE CASH FLOW	$74M
Net Change in Cash	$7M

Balance Sheet

Item	Amount
Cash & Equivalents	$57M
Short-Term Investments	$0
Net Receivables	$388M
Inventory	$729M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$1.3B
Goodwill	$0
Intangible Assets	$347M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$365M
TOTAL NON-CURRENT ASSETS	$2.0B
TOTAL ASSETS	$3.3B
Account Payables	$278M
Short-Term Debt	$115M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$628M
Long-Term Debt	$1.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$272M
Other Non-Current Liabilities	$103M
TOTAL NON-CURRENT LIABILITIES	$1.5B
TOTAL LIABILITIES	$2.1B
Common Stock	$26M
Additional Paid-In Capital	$406M
Retained Earnings	$639M
Treasury Stock	$0
Accum. Other Comp. Income	-$18M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$48M
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$3.3B
Total Debt	$1.3B
Net Debt	$1.2B