WST FY 2015 Earnings Report — West Pharmaceutical Services, Inc. Revenue & Financial Results | Market Cap Arena

West Pharmaceutical Services, Inc.WST

FY 2015 Earnings

Reported February 26, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$1.4B	—	$1.4B	—	-1.7%
Op. Income	$126M	—	$182M	—	-30.9%
Gross Margin	32.5%	—	31.5%	—	1.0pp
Net Margin	6.8%	—	8.9%	—	-2.1pp
EPS (Diluted)	$1.30	—	$1.75	—	-25.7%
Free Cash Flow	$81M	—	$71M	—	14.1%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$944M
GROSS PROFIT	$454M
R&D Expenses	$34M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$233M
Other Expenses	$61M
Operating Expenses	$328M
Cost & Expenses	$1.3B
OPERATING INCOME	$126M
Interest Income	$2M
Interest Expense	$12M
Other Income/Expenses	-$4M
INCOME BEFORE TAX	$122M
Income Tax Expense	$26M
Net Income from Continuing Ops	$96M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$96M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$96M
D&A	$90M
EBIT	$128M
EBITDA	$218M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$944M
GROSS PROFIT	$454M
R&D Expenses	$34M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$233M
Other Expenses	$61M
Operating Expenses	$328M
Cost & Expenses	$1.3B
OPERATING INCOME	$126M
Interest Income	$2M
Interest Expense	$12M
Other Income/Expenses	-$4M
INCOME BEFORE TAX	$122M
Income Tax Expense	$26M
Net Income from Continuing Ops	$96M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$96M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$96M
D&A	$90M
EBIT	$128M
EBITDA	$218M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$96M
Depreciation & Amortization	$90M
Stock-Based Compensation	$30M
Deferred Income Tax	-$9M
Other Non-Cash Items	$17M
Change in Working Capital	-$11M
OPERATING CASH FLOW	$212M
Capital Expenditure	-$132M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$2M
NET CASH FROM INVESTING	-$130M
Net Debt Issuance	-$27M
Common Stock Repurchased	-$6M
Common Dividends Paid	-$32M
Other Financing Activities	$24M
NET CASH FROM FINANCING	-$42M
FREE CASH FLOW	$81M
Net Change in Cash	$19M

Balance Sheet

Item	Amount
Cash & Equivalents	$275M
Short-Term Investments	$0
Net Receivables	$181M
Inventory	$181M
Other Current Assets	$37M
TOTAL CURRENT ASSETS	$674M
PP&E (Net)	$721M
Goodwill	$105M
Intangible Assets	$38M
Long-Term Investments	$61M
Tax Assets	$71M
Other Non-Current Assets	$26M
TOTAL NON-CURRENT ASSETS	$1.0B
TOTAL ASSETS	$1.7B
Account Payables	$120M
Short-Term Debt	$69M
Deferred Revenue	$14M
Other Current Liabilities	$13M
TOTAL CURRENT LIABILITIES	$314M
Long-Term Debt	$229M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$12M
Other Non-Current Liabilities	$116M
TOTAL NON-CURRENT LIABILITIES	$357M
TOTAL LIABILITIES	$671M
Common Stock	$18M
Additional Paid-In Capital	$208M
Retained Earnings	$965M
Treasury Stock	-$4M
Accum. Other Comp. Income	-$163M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.0B
Minority Interest	$0
TOTAL EQUITY	$1.0B
TOTAL LIABILITIES & EQUITY	$1.7B
Total Debt	$298M
Net Debt	$24M