WST FY 2012 Earnings Report — West Pharmaceutical Services, Inc. Revenue & Financial Results | Market Cap Arena

West Pharmaceutical Services, Inc.WST

FY 2012 Earnings

Reported February 27, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.2B	—	6.2%
Op. Income	$137M	—	$116M	—	17.8%
Gross Margin	30.6%	—	28.4%	—	2.2pp
Net Margin	6.4%	—	6.3%	—	0.0pp
EPS (Diluted)	$1.15	—	$1.08	—	6.5%
Free Cash Flow	$55M	—	$34M	—	63.4%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$879M
GROSS PROFIT	$388M
R&D Expenses	$33M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$218M
Other Expenses	$0
Operating Expenses	$251M
Cost & Expenses	$1.1B
OPERATING INCOME	$137M
Interest Income	$2M
Interest Expense	$15M
Other Income/Expenses	-$23M
INCOME BEFORE TAX	$113M
Income Tax Expense	$33M
Net Income from Continuing Ops	$81M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$81M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$81M
D&A	$77M
EBIT	$123M
EBITDA	$200M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$879M
GROSS PROFIT	$388M
R&D Expenses	$33M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$218M
Other Expenses	$0
Operating Expenses	$251M
Cost & Expenses	$1.1B
OPERATING INCOME	$137M
Interest Income	$2M
Interest Expense	$15M
Other Income/Expenses	-$23M
INCOME BEFORE TAX	$113M
Income Tax Expense	$33M
Net Income from Continuing Ops	$81M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$81M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$81M
D&A	$77M
EBIT	$123M
EBITDA	$200M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$81M
Depreciation & Amortization	$77M
Stock-Based Compensation	$16M
Deferred Income Tax	$5M
Other Non-Cash Items	$12M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$187M
Capital Expenditure	-$132M
Acquisitions (Net)	$132M
Purchases of Investments	-$31M
Sales/Maturities of Investments	$46M
Other Investing Activities	-$130M
NET CASH FROM INVESTING	-$116M
Net Debt Issuance	$18M
Common Stock Repurchased	-$5M
Common Dividends Paid	-$25M
Other Financing Activities	$8M
NET CASH FROM FINANCING	-$3M
FREE CASH FLOW	$55M
Net Change in Cash	$70M

Balance Sheet

Item	Amount
Cash & Equivalents	$162M
Short-Term Investments	$12M
Net Receivables	$175M
Inventory	$162M
Other Current Assets	$46M
TOTAL CURRENT ASSETS	$557M
PP&E (Net)	$669M
Goodwill	$113M
Intangible Assets	$51M
Long-Term Investments	$60M
Tax Assets	$90M
Other Non-Current Assets	$25M
TOTAL NON-CURRENT ASSETS	$1.0B
TOTAL ASSETS	$1.6B
Account Payables	$103M
Short-Term Debt	$33M
Deferred Revenue	$0
Other Current Liabilities	$46M
TOTAL CURRENT LIABILITIES	$262M
Long-Term Debt	$379M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$21M
Other Non-Current Liabilities	$174M
TOTAL NON-CURRENT LIABILITIES	$573M
TOTAL LIABILITIES	$835M
Common Stock	$9M
Additional Paid-In Capital	$71M
Retained Earnings	$720M
Treasury Stock	-$3M
Accum. Other Comp. Income	-$76M
Other Equity	$9M
TOTAL STOCKHOLDERS' EQUITY	$729M
Minority Interest	$0
TOTAL EQUITY	$729M
TOTAL LIABILITIES & EQUITY	$1.6B
Total Debt	$412M
Net Debt	$250M