VIV FY 2007 Earnings Report — Telefônica Brasil S.A. Revenue & Financial Results | Market Cap Arena

Telefônica Brasil S.A.VIV

FY 2007 Earnings

Reported December 30, 2007

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$3.0B	—	$2.9B	—	0.8%
Op. Income	$646M	—	$784M	—	-17.5%
Gross Margin	45.5%	—	46.9%	—	-1.3pp
Net Margin	16.0%	—	19.2%	—	-3.2pp
EPS (Diluted)	$0.94	—	$1.12	—	-16.0%
Free Cash Flow	$552M	—	$660M	—	-16.5%

Revenue Flow

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$1.6B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$607M
Other Expenses	$744M
Operating Expenses	$1.4B
Cost & Expenses	$3.0B
OPERATING INCOME	$646M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$27M
INCOME BEFORE TAX	$673M
Income Tax Expense	$197M
Net Income from Continuing Ops	$476M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$476M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$476M
D&A	$544M
EBIT	$646M
EBITDA	$1.2B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$1.6B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$607M
Other Expenses	$744M
Operating Expenses	$1.4B
Cost & Expenses	$3.0B
OPERATING INCOME	$646M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$27M
INCOME BEFORE TAX	$673M
Income Tax Expense	$197M
Net Income from Continuing Ops	$476M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$476M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$476M
D&A	$544M
EBIT	$646M
EBITDA	$1.2B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$476M
Depreciation & Amortization	$544M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$103M
Change in Working Capital	-$170M
OPERATING CASH FLOW	$953M
Capital Expenditure	-$401M
Acquisitions (Net)	-$84M
Purchases of Investments	-$2M
Sales/Maturities of Investments	$30M
Other Investing Activities	$359
NET CASH FROM INVESTING	-$457M
Net Debt Issuance	$202M
Common Stock Repurchased	-$23M
Common Dividends Paid	-$530M
Other Financing Activities	-$45.3K
NET CASH FROM FINANCING	-$351M
FREE CASH FLOW	$552M
Net Change in Cash	$145M

Balance Sheet

Item	Amount
Cash & Equivalents	$188M
Short-Term Investments	$0
Net Receivables	$579M
Inventory	$225M
Other Current Assets	$256M
TOTAL CURRENT ASSETS	$1.0B
PP&E (Net)	$2.1B
Goodwill	$0
Intangible Assets	$174M
Long-Term Investments	$0
Tax Assets	$109M
Other Non-Current Assets	$411M
TOTAL NON-CURRENT ASSETS	$2.8B
TOTAL ASSETS	$3.8B
Account Payables	$372M
Short-Term Debt	$162M
Deferred Revenue	$53M
Other Current Liabilities	$576M
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$504M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$149M
TOTAL NON-CURRENT LIABILITIES	$654M
TOTAL LIABILITIES	$1.8B
Common Stock	$0
Additional Paid-In Capital	$1.9B
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	$133M
Other Equity	$164.5K
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$0
TOTAL EQUITY	$2.0B
TOTAL LIABILITIES & EQUITY	$3.8B
Total Debt	$667M
Net Debt	$479M