MicroDrive Income Statement

MicroDrive Income Statement - MicroDrive Inc Income...

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MicroDrive Inc.: Income Statements for Years Ending December 31 (Millions of Dollars, Except for Per-Share Data) 2007 2006 Net sales $3,000.0 $2,850.0 Operating cost excluding depreciation and amortization 2,616.2 2,497.0 Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 383.8 $ 353.0 Depreciation 100.0 90.0 Amortization 0.0 0.0 Depreciation and amortization $ 100.0 $ 90.0 Earnings before interest and taxes (EBIT, or operating income) $ 283.8 $ 263.0 Less interest 88.0 60.0 Earnings before taxes (EBT) $ 195.8 $ 203.0 Taxes (40%) 78.3 81.2 Net income before preferred dividends $ 117.5 $ 121.8 Preferred dividends 4.0 4.0 Net income $ 113.5 $ 117.8 Common dividends $ 57.5 $ 53.0 Addition to retained earnings $ 56.0 $ 64.8 Per-Share Data Common stock price $23.00 $26.00 Earnings per share (EPS) a $ 2.27 $ 2.36 Dividends per share (DPS) a $ 1.15 $ 1.06 Book value per share (BVPS) a $17.92 $16.80 Cash flow per share (CFPS) a $ 4.27 $ 4.16 ______________________ a There are 50,000,000 shares of common stock outstanding. Note that EPS is based on earnings after preferred dividends—that is, on net income available to common stockholders. Calculations of EPS, DPS, BVPS, and CFPS for 2007 are as follows:
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  • Summer '10
  • JohnGonzales
  • Net Income, Generally Accepted Accounting Principles, Earnings before Interest, Dividends Preferred Dividends

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