SID FY 2010 Earnings Report — Companhia Siderúrgica Nacional Revenue & Financial Results | Market Cap Arena

Companhia Siderúrgica NacionalSID

FY 2010 Earnings

Reported June 17, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$2.9B	—	$1.7B	—	65.2%
Op. Income	$997M	—	$405M	—	146.2%
Gross Margin	46.8%	—	35.2%	—	11.6pp
Net Margin	17.4%	—	25.5%	—	-8.1pp
EPS (Diluted)	$0.35	—	$0.35	—	-1.1%
Free Cash Flow	-$235M	—	-$310M	—	24.1%

Revenue Flow

Item	Amount
REVENUE	$2.9B
Cost of Revenue	$1.5B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$134M
General & Administrative	$101M
SG&A Expenses	$235M
Other Expenses	$110M
Operating Expenses	$352M
Cost & Expenses	$1.9B
OPERATING INCOME	$997M
Interest Income	$128M
Interest Expense	$439M
Other Income/Expenses	-$381M
INCOME BEFORE TAX	$616M
Income Tax Expense	$114M
Net Income from Continuing Ops	$502M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$502M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$502M
D&A	$161M
EBIT	$1.1B
EBITDA	$1.3B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$2.9B
Cost of Revenue	$1.5B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$134M
General & Administrative	$101M
SG&A Expenses	$235M
Other Expenses	$110M
Operating Expenses	$352M
Cost & Expenses	$1.9B
OPERATING INCOME	$997M
Interest Income	$128M
Interest Expense	$439M
Other Income/Expenses	-$381M
INCOME BEFORE TAX	$616M
Income Tax Expense	$114M
Net Income from Continuing Ops	$502M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$502M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$502M
D&A	$161M
EBIT	$1.1B
EBITDA	$1.3B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$502M
Depreciation & Amortization	$161M
Stock-Based Compensation	$0
Deferred Income Tax	$51M
Other Non-Cash Items	$340M
Change in Working Capital	-$570M
OPERATING CASH FLOW	$495M
Capital Expenditure	-$730M
Acquisitions (Net)	$0
Purchases of Investments	-$273M
Sales/Maturities of Investments	$0
Other Investing Activities	$79M
NET CASH FROM INVESTING	-$925M
Net Debt Issuance	$1.2B
Common Stock Repurchased	$2.3B
Common Dividends Paid	-$311M
Other Financing Activities	$33M
NET CASH FROM FINANCING	$928M
FREE CASH FLOW	-$235M
Net Change in Cash	$452M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.0B
Short-Term Investments	$0
Net Receivables	$276M
Inventory	$669M
Other Current Assets	$69M
TOTAL CURRENT ASSETS	$3.1B
PP&E (Net)	$2.7B
Goodwill	$85M
Intangible Assets	$8M
Long-Term Investments	$420M
Tax Assets	$318M
Other Non-Current Assets	$812M
TOTAL NON-CURRENT ASSETS	$4.4B
TOTAL ASSETS	$7.5B
Account Payables	$124M
Short-Term Debt	$261M
Deferred Revenue	$181M
Other Current Liabilities	$46M
TOTAL CURRENT LIABILITIES	$889M
Long-Term Debt	$4.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$740M
TOTAL NON-CURRENT LIABILITIES	$5.1B
TOTAL LIABILITIES	$6.0B
Common Stock	$335M
Additional Paid-In Capital	$6.0K
Retained Earnings	$1.3B
Treasury Stock	$0
Accum. Other Comp. Income	-$34M
Other Equity	-$6.0K
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$38M
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$7.5B
Total Debt	$4.6B
Net Debt	$2.6B