SMG FY 2011 Earnings Report — The Scotts Miracle-Gro Company Revenue & Financial Results | Market Cap Arena

The Scotts Miracle-Gro CompanySMG

FY 2011 Earnings

Reported November 23, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$2.8B	—	$3.1B	—	-9.7%
Op. Income	$247M	—	$385M	—	-35.8%
Gross Margin	35.4%	—	36.5%	—	-1.2pp
Net Margin	5.9%	—	6.5%	—	-0.6pp
EPS (Diluted)	$2.54	—	$3.02	—	-15.9%
Free Cash Flow	$49M	—	$213M	—	-76.8%

Revenue Flow

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.8B
GROSS PROFIT	$1.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$700M
Other Expenses	$0
Operating Expenses	$698M
Cost & Expenses	$2.5B
OPERATING INCOME	$247M
Interest Income	-$1M
Interest Expense	$51M
Other Income/Expenses	-$80M
INCOME BEFORE TAX	$195M
Income Tax Expense	$73M
Net Income from Continuing Ops	$122M
Net Income from Discontinued Ops	$46M
Other Adjustments	$0
NET INCOME	$168M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$168M
D&A	$62M
EBIT	$274M
EBITDA	$302M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.8B
GROSS PROFIT	$1.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$700M
Other Expenses	$0
Operating Expenses	$698M
Cost & Expenses	$2.5B
OPERATING INCOME	$247M
Interest Income	-$1M
Interest Expense	$51M
Other Income/Expenses	-$80M
INCOME BEFORE TAX	$195M
Income Tax Expense	$73M
Net Income from Continuing Ops	$122M
Net Income from Discontinued Ops	$46M
Other Adjustments	$0
NET INCOME	$168M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$168M
D&A	$62M
EBIT	$274M
EBITDA	$302M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$168M
Depreciation & Amortization	$62M
Stock-Based Compensation	$16M
Deferred Income Tax	-$11M
Other Non-Cash Items	-$59M
Change in Working Capital	-$53M
OPERATING CASH FLOW	$122M
Capital Expenditure	-$73M
Acquisitions (Net)	$246M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$20M
NET CASH FROM INVESTING	$154M
Net Debt Issuance	$178M
Common Stock Repurchased	-$359M
Common Dividends Paid	-$68M
Other Financing Activities	-$13M
NET CASH FROM FINANCING	-$231M
FREE CASH FLOW	$49M
Net Change in Cash	$43M

Balance Sheet

Item	Amount
Cash & Equivalents	$131M
Short-Term Investments	$0
Net Receivables	$340M
Inventory	$387M
Other Current Assets	$88M
TOTAL CURRENT ASSETS	$980M
PP&E (Net)	$395M
Goodwill	$309M
Intangible Assets	$320M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$36M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$2.0B
Account Payables	$150M
Short-Term Debt	$3M
Deferred Revenue	$0
Other Current Liabilities	$276M
TOTAL CURRENT LIABILITIES	$467M
Long-Term Debt	$792M
Deferred Revenue NC	-$65M
Deferred Tax Liabilities	$65M
Other Non-Current Liabilities	$156M
TOTAL NON-CURRENT LIABILITIES	$1.0B
TOTAL LIABILITIES	$1.5B
Common Stock	$0
Additional Paid-In Capital	$427M
Retained Earnings	$599M
Treasury Stock	-$389M
Accum. Other Comp. Income	-$78M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$560M
Minority Interest	$0
TOTAL EQUITY	$560M
TOTAL LIABILITIES & EQUITY	$2.0B
Total Debt	$795M
Net Debt	$664M