WSM FY 2010 Earnings Report — Williams-Sonoma, Inc. Revenue & Financial Results | Market Cap Arena

Williams-Sonoma, Inc.WSM

FY 2010 Earnings

Reported March 31, 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	$3.5B	—	$3.1B	—	12.9%
Op. Income	$323M	—	$121M	—	166.3%
Gross Margin	39.2%	—	35.6%	—	3.6pp
Net Margin	5.7%	—	2.5%	—	3.2pp
EPS (Diluted)	$0.91	—	$0.36	—	153.5%
Free Cash Flow	$294M	—	$418M	—	-29.7%

Revenue Flow

Item	Amount
REVENUE	$3.5B
Cost of Revenue	$2.1B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.1B
Other Expenses	$0
Operating Expenses	$1.1B
Cost & Expenses	$3.2B
OPERATING INCOME	$323M
Interest Income	$0
Interest Expense	$354.0K
Other Income/Expenses	-$354.0K
INCOME BEFORE TAX	$323M
Income Tax Expense	$123M
Net Income from Continuing Ops	$200M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$200M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$200M
D&A	$145M
EBIT	$323M
EBITDA	$468M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.5B
Cost of Revenue	$2.1B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.1B
Other Expenses	$0
Operating Expenses	$1.1B
Cost & Expenses	$3.2B
OPERATING INCOME	$323M
Interest Income	$0
Interest Expense	$354.0K
Other Income/Expenses	-$354.0K
INCOME BEFORE TAX	$323M
Income Tax Expense	$123M
Net Income from Continuing Ops	$200M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$200M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$200M
D&A	$145M
EBIT	$323M
EBITDA	$468M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$200M
Depreciation & Amortization	$145M
Stock-Based Compensation	$27M
Deferred Income Tax	$24M
Other Non-Cash Items	-$34M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$356M
Capital Expenditure	-$62M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$64M
Net Debt Issuance	-$2M
Common Stock Repurchased	-$125M
Common Dividends Paid	-$59M
Other Financing Activities	-$8M
NET CASH FROM FINANCING	-$178M
FREE CASH FLOW	$294M
Net Change in Cash	$114M

Balance Sheet

Item	Amount
Cash & Equivalents	$628M
Short-Term Investments	$0
Net Receivables	$42M
Inventory	$513M
Other Current Assets	$106M
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$731M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$33M
Other Non-Current Assets	$21M
TOTAL NON-CURRENT ASSETS	$784M
TOTAL ASSETS	$2.1B
Account Payables	$228M
Short-Term Debt	$2M
Deferred Revenue	$192M
Other Current Liabilities	$25M
TOTAL CURRENT LIABILITIES	$612M
Long-Term Debt	$7M
Deferred Revenue NC	$169M
Deferred Tax Liabilities	$33M
Other Non-Current Liabilities	$254M
TOTAL NON-CURRENT LIABILITIES	$261M
TOTAL LIABILITIES	$873M
Common Stock	$1M
Additional Paid-In Capital	$467M
Retained Earnings	$778M
Treasury Stock	$0
Accum. Other Comp. Income	$13M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$9M
Net Debt	-$620M