WWD FY 2008 Earnings Report — Woodward, Inc. Revenue & Financial Results | Market Cap Arena

Woodward, Inc.WWD

FY 2008 Earnings

Reported November 20, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.0B	—	20.7%
Op. Income	$180M	—	$129M	—	38.7%
Gross Margin	29.8%	—	30.1%	—	-0.3pp
Net Margin	9.7%	—	9.4%	—	0.3pp
EPS (Diluted)	$1.75	—	$1.40	—	25.0%
Free Cash Flow	$88M	—	$86M	—	2.5%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$883M
GROSS PROFIT	$375M
R&D Expenses	$73M
Selling & Marketing	$0
General & Administrative	$115M
SG&A Expenses	$115M
Other Expenses	$7M
Operating Expenses	$196M
Cost & Expenses	$1.1B
OPERATING INCOME	$180M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$182M
Income Tax Expense	$60M
Net Income from Continuing Ops	$122M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$122M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$122M
D&A	$35M
EBIT	$180M
EBITDA	$215M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$883M
GROSS PROFIT	$375M
R&D Expenses	$73M
Selling & Marketing	$0
General & Administrative	$115M
SG&A Expenses	$115M
Other Expenses	$7M
Operating Expenses	$196M
Cost & Expenses	$1.1B
OPERATING INCOME	$180M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$182M
Income Tax Expense	$60M
Net Income from Continuing Ops	$122M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$122M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$122M
D&A	$35M
EBIT	$180M
EBITDA	$215M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$122M
Depreciation & Amortization	$35M
Stock-Based Compensation	$0
Deferred Income Tax	$11M
Other Non-Cash Items	-$9M
Change in Working Capital	-$34M
OPERATING CASH FLOW	$125M
Capital Expenditure	-$38M
Acquisitions (Net)	$2M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$36M
Net Debt Issuance	-$18M
Common Stock Repurchased	-$40M
Common Dividends Paid	-$16M
Other Financing Activities	$15M
NET CASH FROM FINANCING	-$49M
FREE CASH FLOW	$88M
Net Change in Cash	$38M

Balance Sheet

Item	Amount
Cash & Equivalents	$110M
Short-Term Investments	$0
Net Receivables	$178M
Inventory	$208M
Other Current Assets	$42M
TOTAL CURRENT ASSETS	$538M
PP&E (Net)	$169M
Goodwill	$140M
Intangible Assets	$66M
Long-Term Investments	$0
Tax Assets	$6M
Other Non-Current Assets	$8M
TOTAL NON-CURRENT ASSETS	$389M
TOTAL ASSETS	$927M
Account Payables	$65M
Short-Term Debt	$16M
Deferred Revenue	$86M
Other Current Liabilities	$2M
TOTAL CURRENT LIABILITIES	$169M
Long-Term Debt	$33M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$28M
Other Non-Current Liabilities	$68M
TOTAL NON-CURRENT LIABILITIES	$129M
TOTAL LIABILITIES	$297M
Common Stock	$106.0K
Additional Paid-In Capital	$69M
Retained Earnings	$663M
Treasury Stock	-$128M
Accum. Other Comp. Income	$26M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$630M
Minority Interest	$0
TOTAL EQUITY	$630M
TOTAL LIABILITIES & EQUITY	$927M
Total Debt	$49M
Net Debt	-$61M