SID FY 2008 Earnings Report — Companhia Siderúrgica Nacional Revenue & Financial Results | Market Cap Arena

Companhia Siderúrgica NacionalSID

FY 2008 Earnings

Reported June 30, 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	$3.3B	—	$2.0B	—	69.4%
Op. Income	$1.3B	—	$661M	—	98.7%
Gross Margin	50.2%	—	44.2%	—	6.0pp
Net Margin	36.9%	—	30.9%	—	6.1pp
EPS (Diluted)	$0.80	—	$0.39	—	103.0%
Free Cash Flow	$545M	—	$224M	—	143.0%

Revenue Flow

Item	Amount
REVENUE	$3.3B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$190M
General & Administrative	$101M
SG&A Expenses	$291M
Other Expenses	$63M
Operating Expenses	$354M
Cost & Expenses	$2.0B
OPERATING INCOME	$1.3B
Interest Income	$78M
Interest Expense	$254M
Other Income/Expenses	$45M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$191M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$157M
EBIT	$1.6B
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.3B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$190M
General & Administrative	$101M
SG&A Expenses	$291M
Other Expenses	$63M
Operating Expenses	$354M
Cost & Expenses	$2.0B
OPERATING INCOME	$1.3B
Interest Income	$78M
Interest Expense	$254M
Other Income/Expenses	$45M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$191M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$157M
EBIT	$1.6B
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$157M
Stock-Based Compensation	$0
Deferred Income Tax	-$93M
Other Non-Cash Items	$264M
Change in Working Capital	-$356M
OPERATING CASH FLOW	$954M
Capital Expenditure	-$409M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$187M
NET CASH FROM INVESTING	-$597M
Net Debt Issuance	$1.5B
Common Stock Repurchased	-$68M
Common Dividends Paid	-$572M
Other Financing Activities	$0
NET CASH FROM FINANCING	$862M
FREE CASH FLOW	$545M
Net Change in Cash	$1.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.6B
Short-Term Investments	$0
Net Receivables	$452M
Inventory	$538M
Other Current Assets	$200M
TOTAL CURRENT ASSETS	$3.4B
PP&E (Net)	$1.7B
Goodwill	$59M
Intangible Assets	$0
Long-Term Investments	$1.2B
Tax Assets	$155M
Other Non-Current Assets	$776M
TOTAL NON-CURRENT ASSETS	$3.9B
TOTAL ASSETS	$7.3B
Account Payables	$439M
Short-Term Debt	$598M
Deferred Revenue	$165M
Other Current Liabilities	$358M
TOTAL CURRENT LIABILITIES	$1.8B
Long-Term Debt	$3.0B
Deferred Revenue NC	$775M
Deferred Tax Liabilities	$6M
Other Non-Current Liabilities	$172M
TOTAL NON-CURRENT LIABILITIES	$4.0B
TOTAL LIABILITIES	$5.7B
Common Stock	$0
Additional Paid-In Capital	$1.2B
Retained Earnings	$1.2B
Treasury Stock	-$151M
Accum. Other Comp. Income	-$679M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$7.3B
Total Debt	$3.6B
Net Debt	$2.0B