WST FY 2014 Earnings Report — West Pharmaceutical Services, Inc. Revenue & Financial Results | Market Cap Arena

West Pharmaceutical Services, Inc.WST

FY 2014 Earnings

Reported February 25, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$1.4B	—	$1.4B	—	3.9%
Op. Income	$182M	—	$157M	—	16.1%
Gross Margin	31.5%	—	31.4%	—	0.1pp
Net Margin	8.9%	—	8.2%	—	0.7pp
EPS (Diluted)	$1.75	—	$1.57	—	11.5%
Free Cash Flow	$71M	—	$65M	—	9.4%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$974M
GROSS PROFIT	$448M
R&D Expenses	$37M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$229M
Other Expenses	$0
Operating Expenses	$266M
Cost & Expenses	$1.2B
OPERATING INCOME	$182M
Interest Income	$4M
Interest Expense	$20M
Other Income/Expenses	-$8M
INCOME BEFORE TAX	$174M
Income Tax Expense	$47M
Net Income from Continuing Ops	$127M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$127M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$127M
D&A	$90M
EBIT	$189M
EBITDA	$279M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$974M
GROSS PROFIT	$448M
R&D Expenses	$37M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$229M
Other Expenses	$0
Operating Expenses	$266M
Cost & Expenses	$1.2B
OPERATING INCOME	$182M
Interest Income	$4M
Interest Expense	$20M
Other Income/Expenses	-$8M
INCOME BEFORE TAX	$174M
Income Tax Expense	$47M
Net Income from Continuing Ops	$127M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$127M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$127M
D&A	$90M
EBIT	$189M
EBITDA	$279M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$127M
Depreciation & Amortization	$90M
Stock-Based Compensation	$19M
Deferred Income Tax	$7M
Other Non-Cash Items	-$29M
Change in Working Capital	-$31M
OPERATING CASH FLOW	$183M
Capital Expenditure	-$112M
Acquisitions (Net)	$112M
Purchases of Investments	-$9M
Sales/Maturities of Investments	$17M
Other Investing Activities	-$112M
NET CASH FROM INVESTING	-$104M
Net Debt Issuance	-$22M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$29M
Other Financing Activities	$25M
NET CASH FROM FINANCING	-$31M
FREE CASH FLOW	$71M
Net Change in Cash	$25M

Balance Sheet

Item	Amount
Cash & Equivalents	$255M
Short-Term Investments	$0
Net Receivables	$179M
Inventory	$182M
Other Current Assets	$43M
TOTAL CURRENT ASSETS	$659M
PP&E (Net)	$706M
Goodwill	$109M
Intangible Assets	$42M
Long-Term Investments	$61M
Tax Assets	$66M
Other Non-Current Assets	$29M
TOTAL NON-CURRENT ASSETS	$1.0B
TOTAL ASSETS	$1.7B
Account Payables	$103M
Short-Term Debt	$27M
Deferred Revenue	$13M
Other Current Liabilities	$11M
TOTAL CURRENT LIABILITIES	$253M
Long-Term Debt	$310M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$16M
Other Non-Current Liabilities	$136M
TOTAL NON-CURRENT LIABILITIES	$462M
TOTAL LIABILITIES	$713M
Common Stock	$18M
Additional Paid-In Capital	$160M
Retained Earnings	$902M
Treasury Stock	-$4M
Accum. Other Comp. Income	-$119M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$957M
Minority Interest	$0
TOTAL EQUITY	$957M
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$336M
Net Debt	$80M