WST Q2 2016 Earnings Report — West Pharmaceutical Services, Inc. Revenue & Financial Results | Market Cap Arena

West Pharmaceutical Services, Inc.WST

Q2 2016 Earnings

Reported August 1, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2016	Q1 2016	Q2 2015	QoQ Change	YoY Change
Revenue	$388M	$362M	—	7.2%	—
Op. Income	$61M	$30M	—	104.0%	—
Gross Margin	34.4%	34.1%	—	0.3pp	—
Net Margin	11.5%	6.1%	—	5.4pp	—
EPS (Diluted)	$0.60	$0.30	—	100.0%	—
Free Cash Flow	$41M	-$36M	—	214.4%	—

Revenue Flow

Item	Amount
REVENUE	$388M
Cost of Revenue	$255M
GROSS PROFIT	$133M
R&D Expenses	$9M
Selling & Marketing	$0
General & Administrative	$63M
SG&A Expenses	$63M
Other Expenses	$800.0K
Operating Expenses	$72M
Cost & Expenses	$326M
OPERATING INCOME	$61M
Interest Income	$300.0K
Interest Expense	$2M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$60M
Income Tax Expense	$17M
Net Income from Continuing Ops	$45M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$45M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$45M
D&A	$23M
EBIT	$62M
EBITDA	$84M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$388M
Cost of Revenue	$255M
GROSS PROFIT	$133M
R&D Expenses	$9M
Selling & Marketing	$0
General & Administrative	$63M
SG&A Expenses	$63M
Other Expenses	$800.0K
Operating Expenses	$72M
Cost & Expenses	$326M
OPERATING INCOME	$61M
Interest Income	$300.0K
Interest Expense	$2M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$60M
Income Tax Expense	$17M
Net Income from Continuing Ops	$45M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$45M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$45M
D&A	$23M
EBIT	$62M
EBITDA	$84M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$45M
Depreciation & Amortization	$23M
Stock-Based Compensation	$5M
Deferred Income Tax	$0
Other Non-Cash Items	$4M
Change in Working Capital	-$500.0K
OPERATING CASH FLOW	$76M
Capital Expenditure	-$35M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$8M
NET CASH FROM INVESTING	-$43M
Net Debt Issuance	-$600.0K
Common Stock Repurchased	-$8M
Common Dividends Paid	-$9M
Other Financing Activities	$10M
NET CASH FROM FINANCING	-$7M
FREE CASH FLOW	$41M
Net Change in Cash	$25M

Balance Sheet

Item	Amount
Cash & Equivalents	$203M
Short-Term Investments	$0
Net Receivables	$219M
Inventory	$198M
Other Current Assets	$40M
TOTAL CURRENT ASSETS	$659M
PP&E (Net)	$741M
Goodwill	$105M
Intangible Assets	$25M
Long-Term Investments	$78M
Tax Assets	$75M
Other Non-Current Assets	$23M
TOTAL NON-CURRENT ASSETS	$1.0B
TOTAL ASSETS	$1.7B
Account Payables	$107M
Short-Term Debt	$3M
Deferred Revenue	$0
Other Current Liabilities	$65M
TOTAL CURRENT LIABILITIES	$239M
Long-Term Debt	$229M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$15M
Other Non-Current Liabilities	$113M
TOTAL NON-CURRENT LIABILITIES	$356M
TOTAL LIABILITIES	$596M
Common Stock	$18M
Additional Paid-In Capital	$241M
Retained Earnings	$1.0B
Treasury Stock	-$13M
Accum. Other Comp. Income	-$150M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$1.7B
Total Debt	$231M
Net Debt	$29M