SMG FY 2010 Earnings Report — The Scotts Miracle-Gro Company Revenue & Financial Results | Market Cap Arena

The Scotts Miracle-Gro CompanySMG

FY 2010 Earnings

Reported November 24, 2010

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	$3.1B	—	$3.0B	—	5.3%
Op. Income	$385M	—	$298M	—	29.2%
Gross Margin	36.5%	—	35.5%	—	1.1pp
Net Margin	6.5%	—	5.1%	—	1.4pp
EPS (Diluted)	$3.02	—	$2.32	—	30.2%
Free Cash Flow	$213M	—	$189M	—	12.3%

Revenue Flow

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$2.0B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$752M
Other Expenses	-$8M
Operating Expenses	$744M
Cost & Expenses	$2.7B
OPERATING INCOME	$385M
Interest Income	$0
Interest Expense	$47M
Other Income/Expenses	-$43M
INCOME BEFORE TAX	$338M
Income Tax Expense	$125M
Net Income from Continuing Ops	$212M
Net Income from Discontinued Ops	-$8M
Other Adjustments	$0
NET INCOME	$204M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$204M
D&A	$59M
EBIT	$363M
EBITDA	$423M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$2.0B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$752M
Other Expenses	-$8M
Operating Expenses	$744M
Cost & Expenses	$2.7B
OPERATING INCOME	$385M
Interest Income	$0
Interest Expense	$47M
Other Income/Expenses	-$43M
INCOME BEFORE TAX	$338M
Income Tax Expense	$125M
Net Income from Continuing Ops	$212M
Net Income from Discontinued Ops	-$8M
Other Adjustments	$0
NET INCOME	$204M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$204M
D&A	$59M
EBIT	$363M
EBITDA	$423M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$204M
Depreciation & Amortization	$59M
Stock-Based Compensation	$16M
Deferred Income Tax	$38M
Other Non-Cash Items	-$4M
Change in Working Capital	-$18M
OPERATING CASH FLOW	$296M
Capital Expenditure	-$83M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$25M
NET CASH FROM INVESTING	-$59M
Net Debt Issuance	-$172M
Common Stock Repurchased	-$25M
Common Dividends Paid	-$43M
Other Financing Activities	$900.0K
NET CASH FROM FINANCING	-$216M
FREE CASH FLOW	$213M
Net Change in Cash	$18M

Balance Sheet

Item	Amount
Cash & Equivalents	$89M
Short-Term Investments	$0
Net Receivables	$408M
Inventory	$404M
Other Current Assets	$193M
TOTAL CURRENT ASSETS	$1.0B
PP&E (Net)	$395M
Goodwill	$373M
Intangible Assets	$330M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$29M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$2.2B
Account Payables	$142M
Short-Term Debt	$195M
Deferred Revenue	$0
Other Current Liabilities	$279M
TOTAL CURRENT LIABILITIES	$724M
Long-Term Debt	$437M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$239M
TOTAL NON-CURRENT LIABILITIES	$676M
TOTAL LIABILITIES	$1.4B
Common Stock	$434M
Additional Paid-In Capital	$434M
Retained Earnings	$500M
Treasury Stock	-$92M
Accum. Other Comp. Income	-$77M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$765M
Minority Interest	$0
TOTAL EQUITY	$765M
TOTAL LIABILITIES & EQUITY	$2.2B
Total Debt	$632M
Net Debt	$543M