EnCana generated $1.9 billion in first quarter cash flow, down 18% from the previous year. First quarter natural gas and oil production increased 3% to 4.7 billion cubic feet equivalent per day. EnCana remains focused on high return projects and aligning investments with low commodity prices through a modest $1.5 billion capital program. Operating and administrative costs decreased 31% to $1.06 per thousand cubic feet of gas equivalent due to a weaker Canadian dollar and lower fuel and incentive costs.
Sanjiv Khattri, Executive Vice President and CFO of GMAC Financial finance8
- GM reported adjusted net income of $529 million for Q3 2006, an improvement of $1.643 billion from Q3 2005. This was driven by strong performance in GMNA and improvements in GME and GMLAAM.
- In North America, cost reductions led to an adjusted net income improvement of over $1.3 billion versus Q3 2005. Launch vehicles delivered favorable contribution margins despite rising material costs.
- Europe reported an adjusted net income improvement of $105 million versus Q3 2005 due to ongoing restructuring benefits, while Latin America, Africa & Middle East saw a $153 million improvement due to volume growth and mix improvements.
This document provides a summary of DPL Inc.'s financial results for the first quarter of 2009. It discusses earnings per share, operational highlights, regulatory updates, and liquidity. Key points include diluted EPS of $0.61 or $0.54 adjusted for deferred RTO costs, lower wholesale revenue and industrial sales, a planned Zimmer outage, gains from coal sales, hedged coal costs, and total 2009-2011 capital expenditures estimated at $475 million. Guidance for 2009 EPS of $2.00-$2.30 was also reaffirmed.
The document is Lockheed Martin's 1995 Annual Report. It summarizes the company's strong financial and operational performance in its first year after merging with Martin Marietta. Key points include record net earnings of $1.12 billion, excluding merger charges, and meeting over 96% of major program milestones. Lockheed Martin also captured over 60% of competitive bids pursued and maintained a $41 billion backlog. The report highlights the company positioning itself as a total systems provider across various sectors.
1) Lennar Corporation had another record year in 1999, growing total revenues to $3.1 billion, a 29% increase, and growing net earnings by 20% to $173 million.
2) The company maintained a simple four-tiered strategy of operating model, expansion, diversification, and conservative fiscal policy while focusing on maintaining a strong balance sheet, diversifying earnings, and maximizing returns.
3) Lennar's "Everything's Included" program and Zero Defects policy aim to maximize home value for customers through standard luxury features and a streamlined production process.
Lennox International reported financial results for the first quarter of 2009, with revenue down 23% from the prior year quarter to $585 million due to weak global market conditions. The company reported an adjusted loss per share from continuing operations of $0.23 and a GAAP loss per share of $0.33. In response to weaker market conditions, Lennox lowered its full-year 2009 revenue and earnings guidance and announced additional cost reduction measures of $55 million in SG&A expenses and a 12% reduction in salaried headcount.
This document provides reconciliations between Duke Energy Corporation's ("Duke Energy") non-GAAP financial measures and the most directly comparable GAAP measures for various periods. It discusses Duke Energy's use of "ongoing" measures which exclude special items that management believes are not recurring, such as gains, losses and impairment charges. The document also references Duke Energy's expectation to achieve ongoing EPS targets and segment earnings growth rates through 2012.
Leggett & Platt reported first quarter 2009 earnings of $0.06 per share, down from $0.23 per share in Q1 2008. Sales were $718 million, a 28% decrease from the prior year due to weak demand. Cash flow from operations was $115 million, up 116% from prior year due to working capital reductions. For 2009, the company estimates EPS of $0.60-$0.90 on $2.9-3.3 billion in sales, down from prior guidance due to continued weak demand.
FMS operating revenue was up 5% year-over-year to $747.6 million due to 6% growth in contractual revenue including full service lease and contract maintenance revenue. FMS net before tax earnings increased 13% to $91.4 million and the net before tax earnings percent of operating revenue increased 90 basis points to 12.2%. FMS earnings benefited from improved contractual business performance, lower sales and marketing costs, and acquisitions.
Sanjiv Khattri, Executive Vice President and CFO of GMAC Financial finance8
- GM reported adjusted net income of $529 million for Q3 2006, an improvement of $1.643 billion from Q3 2005. This was driven by strong performance in GMNA and improvements in GME and GMLAAM.
- In North America, cost reductions led to an adjusted net income improvement of over $1.3 billion versus Q3 2005. Launch vehicles delivered favorable contribution margins despite rising material costs.
- Europe reported an adjusted net income improvement of $105 million versus Q3 2005 due to ongoing restructuring benefits, while Latin America, Africa & Middle East saw a $153 million improvement due to volume growth and mix improvements.
This document provides a summary of DPL Inc.'s financial results for the first quarter of 2009. It discusses earnings per share, operational highlights, regulatory updates, and liquidity. Key points include diluted EPS of $0.61 or $0.54 adjusted for deferred RTO costs, lower wholesale revenue and industrial sales, a planned Zimmer outage, gains from coal sales, hedged coal costs, and total 2009-2011 capital expenditures estimated at $475 million. Guidance for 2009 EPS of $2.00-$2.30 was also reaffirmed.
The document is Lockheed Martin's 1995 Annual Report. It summarizes the company's strong financial and operational performance in its first year after merging with Martin Marietta. Key points include record net earnings of $1.12 billion, excluding merger charges, and meeting over 96% of major program milestones. Lockheed Martin also captured over 60% of competitive bids pursued and maintained a $41 billion backlog. The report highlights the company positioning itself as a total systems provider across various sectors.
1) Lennar Corporation had another record year in 1999, growing total revenues to $3.1 billion, a 29% increase, and growing net earnings by 20% to $173 million.
2) The company maintained a simple four-tiered strategy of operating model, expansion, diversification, and conservative fiscal policy while focusing on maintaining a strong balance sheet, diversifying earnings, and maximizing returns.
3) Lennar's "Everything's Included" program and Zero Defects policy aim to maximize home value for customers through standard luxury features and a streamlined production process.
Lennox International reported financial results for the first quarter of 2009, with revenue down 23% from the prior year quarter to $585 million due to weak global market conditions. The company reported an adjusted loss per share from continuing operations of $0.23 and a GAAP loss per share of $0.33. In response to weaker market conditions, Lennox lowered its full-year 2009 revenue and earnings guidance and announced additional cost reduction measures of $55 million in SG&A expenses and a 12% reduction in salaried headcount.
This document provides reconciliations between Duke Energy Corporation's ("Duke Energy") non-GAAP financial measures and the most directly comparable GAAP measures for various periods. It discusses Duke Energy's use of "ongoing" measures which exclude special items that management believes are not recurring, such as gains, losses and impairment charges. The document also references Duke Energy's expectation to achieve ongoing EPS targets and segment earnings growth rates through 2012.
Leggett & Platt reported first quarter 2009 earnings of $0.06 per share, down from $0.23 per share in Q1 2008. Sales were $718 million, a 28% decrease from the prior year due to weak demand. Cash flow from operations was $115 million, up 116% from prior year due to working capital reductions. For 2009, the company estimates EPS of $0.60-$0.90 on $2.9-3.3 billion in sales, down from prior guidance due to continued weak demand.
FMS operating revenue was up 5% year-over-year to $747.6 million due to 6% growth in contractual revenue including full service lease and contract maintenance revenue. FMS net before tax earnings increased 13% to $91.4 million and the net before tax earnings percent of operating revenue increased 90 basis points to 12.2%. FMS earnings benefited from improved contractual business performance, lower sales and marketing costs, and acquisitions.
Duke Energy Corporation provided reconciliations of non-GAAP financial measures (ongoing earnings) to the most directly comparable GAAP measures (reported earnings) for the second quarter and first half of 2006 and 2007. Special items were excluded from ongoing earnings and included in total adjustments to reconcile to reported earnings. Management believes special items will not recur regularly.
This annual report summarizes Tech Data Corporation's fiscal year 1998. It saw record financial results, with net sales of $7.1 billion and net income of $89.5 million. Tech Data expanded internationally through the acquisition of Macrotron AG, making it a leader in the German market. It also grew its presence in Canada, Latin America, and Europe. The company increased its market share in the U.S. through new product offerings and innovative services like e-commerce and custom assembly. Tech Data attributed its success to its 5,000 employees worldwide and strategic partnerships with customers and vendors.
The document discusses Duke Energy Corporation's use of non-GAAP financial measures in its First Quarter 2007 Earnings Review presentation. Specifically, it discusses measures such as ongoing diluted EPS, ongoing segment EBIT, and expected ongoing diluted EPS growth rates which exclude special items that management believes are not recurring. It provides reconciliations of these non-GAAP measures to the most directly comparable GAAP measures for previous periods to facilitate understanding of the non-GAAP information.
This document provides reconciliations between Duke Energy Corporation's ongoing (non-GAAP) earnings per share and reported (GAAP) earnings per share for the second quarter of 2005 and year-to-date 2005. It identifies special items excluded from ongoing EPS, including mark-to-market changes on hedges and gains/losses from sales of assets, and reconciles their impact. Segment earnings before interest and taxes are also reconciled from ongoing to reported figures.
- The document provides a summary of the company's 4th quarter 2008 and full year 2008 financial results and forecasts for 2009.
- 4th quarter earnings per share were $0.19 compared to $1.24 in 4Q07 due to restructuring charges. Excluding charges, earnings were $1.09 compared to $1.18.
- For the full year, earnings per share were $3.52 compared to $4.24 in 2007. Excluding items, earnings were $4.49 compared to $4.21.
southern 2000 Financial Section, color typefinance17
This document contains financial information for Southern Company and its subsidiaries for the years 1996-2000. It includes earnings per share from operations, market value, and return on average common equity for each year. The document also includes consolidated financial statements and notes. Key information includes:
- Earnings per share from operations increased from $1.65 in 1996 to $2.13 in 2000.
- Market value increased from $17.9 billion in 1996 to $22.6 billion in 2000.
- Return on average common equity increased from 10.3% in 1996 to 13.43% in 2000.
coca cola Reconciliation of Q3 and YTD 2007 Non-GAAP Financial Measuresfinance9
The document provides a reconciliation of the company's GAAP financial measures to non-GAAP financial measures for the third quarter and first nine months of 2007 and 2006. Some key points:
- Management believes the non-GAAP measures provide a meaningful comparison of underlying business trends by excluding certain items that impact comparability.
- For Q3 2007, items impacting comparability include asset impairments/restructuring charges and gains/losses, resulting in operating income 12% higher than reported on a non-GAAP basis.
- For the first nine months of 2007, items include similar adjustment items, resulting in operating income 13% higher than reported on a non-GAAP basis.
- By
- El Paso Corporation reported financial results for the third quarter of 2006 with EBIT of $359 million compared to a loss of $92 million in the third quarter of 2005.
- The Pipelines segment continued its strong performance with EBIT up 12% from the third quarter of 2005, driven by increased throughput. Exploration and Production also had a solid quarter with production volumes up.
- Significant progress was made on legacy issues, including exiting the domestic power business and downsizing the gas trading book. Debt was also reduced by $3.1 billion through the end of the third quarter.
1) Global Financial Review reported that EBIT rose 11% from 1999 to 2000 due to strong sales growth and cost-cutting initiatives. EBIT also increased 10% from 1998 to 1999.
2) Gross profit margin increased to 54.4% in 2000, above both 1999 and 1998 levels, reflecting the company's strategy to improve its supply chain and focus on higher margin products.
3) Selling, general and administrative expenses declined slightly as a percentage of sales due to continued expense containment efforts, though this was offset by higher advertising costs.
coca cola Reconciliation of Q2 and YTD 2008 Non-GAAP Financial Measuresfinance9
This document provides both GAAP and non-GAAP financial measures for The Coca-Cola Company for the three months ended June 27, 2008 and June 29, 2007. Management believes non-GAAP measures allow for additional meaningful comparisons between periods by excluding certain items that impact comparability. The tables show reconciliations between reported GAAP measures and non-GAAP measures which exclude items like asset impairments and equity investee gains or losses. Management uses non-GAAP measures to make financial, operating and planning decisions.
Texas Eastern Transmission reported financial results for the third quarter and first nine months of 2005. Revenues for the quarter were $230 million compared to $205 million for the same period in 2004. Net income for the quarter was $72 million compared to $58 million in 2004. For the first nine months of the year, revenues were $664 million and net income was $201 million, increases from the prior year. The company continues to transport and store natural gas through its pipeline systems while managing costs and obligations related to environmental remediation and ongoing legal matters.
The document provides an overview of the company's third quarter 2005 earnings conference call, including highlights such as earnings per share increasing 20% compared to the prior year, business segment results with revenue and earnings increases across all segments, and debt to equity ratios remaining below long-term targets while supporting continued growth.
The document discusses Duke Energy's use of non-GAAP financial measures to evaluate performance, including ongoing earnings per share, ongoing segment EBIT, and other measures adjusted for special items. It provides context for these measures and notes that special items represent charges and credits that are not expected to recur regularly. It also states that reconciliations to the most directly comparable GAAP measures are not possible due to the inability to forecast future special items.
The document is an 8-K filing by Xilinx Inc. reporting their financial results for the first quarter of fiscal year 2010:
- Sales were $376 million, down 5% sequentially and 23% from the prior year.
- Net income was $38 million, or $0.14 per diluted share.
- For the second quarter, Xilinx expects sales to increase 2-6% and gross margin to be around 61%.
- The company continues to invest in new FPGA development to drive future growth.
- Yahoo reported first quarter 2009 results, with revenues of $1.58 billion, a 13% decrease from the first quarter of 2008. However, operating cash flow of $409 million exceeded expectations.
- Net income was $118 million compared to $537 million in the first quarter of 2008. However, the prior year results benefited from a large non-cash gain.
- Yahoo expects to reduce its workforce by 5% to allow for strategic investments, while also implementing other cost reductions. The company expects second quarter revenues between $1.43-1.63 billion.
Hancock Holding Company announced its financial results for the third quarter of 2009. Net income increased 10.7% from the previous quarter to $15.2 million. Key factors were lower loan loss provisions and an expanded net interest margin. Non-performing assets rose slightly while net charge-offs decreased. Total assets declined 3.4% but the company remained well capitalized, with tangible equity ratio rising to 8.71%.
MB Financial reported its results for the second quarter of 2009. Net income was $4.3 million, down from $22 million in the second quarter of 2008. Credit quality deteriorated, with non-performing loans decreasing slightly to $227.7 million but non-performing assets increasing to $245 million. The allowance for loan losses was increased to 2.86% of total loans. Net interest income increased by $3.3 million due to an improved net interest margin from loan repricing and lower funding costs. Other income decreased by $3.6 million primarily due to lower gains on the sale of investment securities.
- Kennametal Inc. filed an 8-K form with the SEC on April 24, 2009 regarding its financial results for the fiscal third quarter ended March 31, 2009.
- The filing included a press release containing non-GAAP financial measures and definitions of those measures, including adjusted gross profit, operating expenses, EBIT, and free operating cash flow.
- Reconciliations of the non-GAAP measures to the most comparable GAAP measures were provided in the press release or compiled as required by Regulation G.
How your very large databases can work in the cloud computing world?Moshe Kaplan
How your very large databases can work in the cloud computing world?
Presented by Moshe Kaplan from RockeTier, a performance expert and scale out architect at the IGT Cloud Computing work group at April 20, 2009
Cloud computing is famous for its flexibility, dynamic nature and ability to infinite growth. However, infinite growth means very large databases with billions of records in it. This leads us to a paradox: "How can weak servers support very large databases which usually require several CPUs and dedicated hardware?"
The Internet industry proved it can be done. These days many of the Internet giants, processing billions of events every day, are based on cloud computing architecture such and sharding. What is Sharding ? What kinds of Sharding can you implement? What are the best practices?
RockeTier specializes in analyzing and boosting existing software
performance and developing efficient high-load systems
You can contact Mr. Kaplan at moshe.kaplan at rocketier.com, read his blog at http://top-performance.blogspot.com and visit RockeTier site at www.rocketier.com
MGIC Investment Corporation reported financial results for Q2 2009 with a net loss of $339.8 million compared to a net loss of $99.9 million in Q2 2008. Total revenues were $454.5 million. New insurance written was $5.9 billion, down from $14 billion in Q2 2008. The percentage of loans delinquent was 12.04% excluding bulk loans and 14.97% including bulk loans, both up significantly from the prior year. Losses incurred were $769.6 million, up from $688.1 million in the previous year.
Daimler reported its Q3 2009 results, with the automotive market continuing to experience a slump. Key points include:
- Group sales were €19.3 billion in Q3, with an EBIT of €0.5 billion excluding special items.
- Mercedes-Benz Cars achieved a positive EBIT of €355 million in Q3 due to the availability of new models and cost measures.
- Daimler Trucks reported an EBIT loss of €127 million in Q3 due to weak demand and charges from repositioning.
- Daimler aims to further improve earnings in Q4 through new models and ongoing efficiency programs.
Duke Energy Corporation provided reconciliations of non-GAAP financial measures (ongoing earnings) to the most directly comparable GAAP measures (reported earnings) for the second quarter and first half of 2006 and 2007. Special items were excluded from ongoing earnings and included in total adjustments to reconcile to reported earnings. Management believes special items will not recur regularly.
This annual report summarizes Tech Data Corporation's fiscal year 1998. It saw record financial results, with net sales of $7.1 billion and net income of $89.5 million. Tech Data expanded internationally through the acquisition of Macrotron AG, making it a leader in the German market. It also grew its presence in Canada, Latin America, and Europe. The company increased its market share in the U.S. through new product offerings and innovative services like e-commerce and custom assembly. Tech Data attributed its success to its 5,000 employees worldwide and strategic partnerships with customers and vendors.
The document discusses Duke Energy Corporation's use of non-GAAP financial measures in its First Quarter 2007 Earnings Review presentation. Specifically, it discusses measures such as ongoing diluted EPS, ongoing segment EBIT, and expected ongoing diluted EPS growth rates which exclude special items that management believes are not recurring. It provides reconciliations of these non-GAAP measures to the most directly comparable GAAP measures for previous periods to facilitate understanding of the non-GAAP information.
This document provides reconciliations between Duke Energy Corporation's ongoing (non-GAAP) earnings per share and reported (GAAP) earnings per share for the second quarter of 2005 and year-to-date 2005. It identifies special items excluded from ongoing EPS, including mark-to-market changes on hedges and gains/losses from sales of assets, and reconciles their impact. Segment earnings before interest and taxes are also reconciled from ongoing to reported figures.
- The document provides a summary of the company's 4th quarter 2008 and full year 2008 financial results and forecasts for 2009.
- 4th quarter earnings per share were $0.19 compared to $1.24 in 4Q07 due to restructuring charges. Excluding charges, earnings were $1.09 compared to $1.18.
- For the full year, earnings per share were $3.52 compared to $4.24 in 2007. Excluding items, earnings were $4.49 compared to $4.21.
southern 2000 Financial Section, color typefinance17
This document contains financial information for Southern Company and its subsidiaries for the years 1996-2000. It includes earnings per share from operations, market value, and return on average common equity for each year. The document also includes consolidated financial statements and notes. Key information includes:
- Earnings per share from operations increased from $1.65 in 1996 to $2.13 in 2000.
- Market value increased from $17.9 billion in 1996 to $22.6 billion in 2000.
- Return on average common equity increased from 10.3% in 1996 to 13.43% in 2000.
coca cola Reconciliation of Q3 and YTD 2007 Non-GAAP Financial Measuresfinance9
The document provides a reconciliation of the company's GAAP financial measures to non-GAAP financial measures for the third quarter and first nine months of 2007 and 2006. Some key points:
- Management believes the non-GAAP measures provide a meaningful comparison of underlying business trends by excluding certain items that impact comparability.
- For Q3 2007, items impacting comparability include asset impairments/restructuring charges and gains/losses, resulting in operating income 12% higher than reported on a non-GAAP basis.
- For the first nine months of 2007, items include similar adjustment items, resulting in operating income 13% higher than reported on a non-GAAP basis.
- By
- El Paso Corporation reported financial results for the third quarter of 2006 with EBIT of $359 million compared to a loss of $92 million in the third quarter of 2005.
- The Pipelines segment continued its strong performance with EBIT up 12% from the third quarter of 2005, driven by increased throughput. Exploration and Production also had a solid quarter with production volumes up.
- Significant progress was made on legacy issues, including exiting the domestic power business and downsizing the gas trading book. Debt was also reduced by $3.1 billion through the end of the third quarter.
1) Global Financial Review reported that EBIT rose 11% from 1999 to 2000 due to strong sales growth and cost-cutting initiatives. EBIT also increased 10% from 1998 to 1999.
2) Gross profit margin increased to 54.4% in 2000, above both 1999 and 1998 levels, reflecting the company's strategy to improve its supply chain and focus on higher margin products.
3) Selling, general and administrative expenses declined slightly as a percentage of sales due to continued expense containment efforts, though this was offset by higher advertising costs.
coca cola Reconciliation of Q2 and YTD 2008 Non-GAAP Financial Measuresfinance9
This document provides both GAAP and non-GAAP financial measures for The Coca-Cola Company for the three months ended June 27, 2008 and June 29, 2007. Management believes non-GAAP measures allow for additional meaningful comparisons between periods by excluding certain items that impact comparability. The tables show reconciliations between reported GAAP measures and non-GAAP measures which exclude items like asset impairments and equity investee gains or losses. Management uses non-GAAP measures to make financial, operating and planning decisions.
Texas Eastern Transmission reported financial results for the third quarter and first nine months of 2005. Revenues for the quarter were $230 million compared to $205 million for the same period in 2004. Net income for the quarter was $72 million compared to $58 million in 2004. For the first nine months of the year, revenues were $664 million and net income was $201 million, increases from the prior year. The company continues to transport and store natural gas through its pipeline systems while managing costs and obligations related to environmental remediation and ongoing legal matters.
The document provides an overview of the company's third quarter 2005 earnings conference call, including highlights such as earnings per share increasing 20% compared to the prior year, business segment results with revenue and earnings increases across all segments, and debt to equity ratios remaining below long-term targets while supporting continued growth.
The document discusses Duke Energy's use of non-GAAP financial measures to evaluate performance, including ongoing earnings per share, ongoing segment EBIT, and other measures adjusted for special items. It provides context for these measures and notes that special items represent charges and credits that are not expected to recur regularly. It also states that reconciliations to the most directly comparable GAAP measures are not possible due to the inability to forecast future special items.
The document is an 8-K filing by Xilinx Inc. reporting their financial results for the first quarter of fiscal year 2010:
- Sales were $376 million, down 5% sequentially and 23% from the prior year.
- Net income was $38 million, or $0.14 per diluted share.
- For the second quarter, Xilinx expects sales to increase 2-6% and gross margin to be around 61%.
- The company continues to invest in new FPGA development to drive future growth.
- Yahoo reported first quarter 2009 results, with revenues of $1.58 billion, a 13% decrease from the first quarter of 2008. However, operating cash flow of $409 million exceeded expectations.
- Net income was $118 million compared to $537 million in the first quarter of 2008. However, the prior year results benefited from a large non-cash gain.
- Yahoo expects to reduce its workforce by 5% to allow for strategic investments, while also implementing other cost reductions. The company expects second quarter revenues between $1.43-1.63 billion.
Hancock Holding Company announced its financial results for the third quarter of 2009. Net income increased 10.7% from the previous quarter to $15.2 million. Key factors were lower loan loss provisions and an expanded net interest margin. Non-performing assets rose slightly while net charge-offs decreased. Total assets declined 3.4% but the company remained well capitalized, with tangible equity ratio rising to 8.71%.
MB Financial reported its results for the second quarter of 2009. Net income was $4.3 million, down from $22 million in the second quarter of 2008. Credit quality deteriorated, with non-performing loans decreasing slightly to $227.7 million but non-performing assets increasing to $245 million. The allowance for loan losses was increased to 2.86% of total loans. Net interest income increased by $3.3 million due to an improved net interest margin from loan repricing and lower funding costs. Other income decreased by $3.6 million primarily due to lower gains on the sale of investment securities.
- Kennametal Inc. filed an 8-K form with the SEC on April 24, 2009 regarding its financial results for the fiscal third quarter ended March 31, 2009.
- The filing included a press release containing non-GAAP financial measures and definitions of those measures, including adjusted gross profit, operating expenses, EBIT, and free operating cash flow.
- Reconciliations of the non-GAAP measures to the most comparable GAAP measures were provided in the press release or compiled as required by Regulation G.
How your very large databases can work in the cloud computing world?Moshe Kaplan
How your very large databases can work in the cloud computing world?
Presented by Moshe Kaplan from RockeTier, a performance expert and scale out architect at the IGT Cloud Computing work group at April 20, 2009
Cloud computing is famous for its flexibility, dynamic nature and ability to infinite growth. However, infinite growth means very large databases with billions of records in it. This leads us to a paradox: "How can weak servers support very large databases which usually require several CPUs and dedicated hardware?"
The Internet industry proved it can be done. These days many of the Internet giants, processing billions of events every day, are based on cloud computing architecture such and sharding. What is Sharding ? What kinds of Sharding can you implement? What are the best practices?
RockeTier specializes in analyzing and boosting existing software
performance and developing efficient high-load systems
You can contact Mr. Kaplan at moshe.kaplan at rocketier.com, read his blog at http://top-performance.blogspot.com and visit RockeTier site at www.rocketier.com
MGIC Investment Corporation reported financial results for Q2 2009 with a net loss of $339.8 million compared to a net loss of $99.9 million in Q2 2008. Total revenues were $454.5 million. New insurance written was $5.9 billion, down from $14 billion in Q2 2008. The percentage of loans delinquent was 12.04% excluding bulk loans and 14.97% including bulk loans, both up significantly from the prior year. Losses incurred were $769.6 million, up from $688.1 million in the previous year.
Daimler reported its Q3 2009 results, with the automotive market continuing to experience a slump. Key points include:
- Group sales were €19.3 billion in Q3, with an EBIT of €0.5 billion excluding special items.
- Mercedes-Benz Cars achieved a positive EBIT of €355 million in Q3 due to the availability of new models and cost measures.
- Daimler Trucks reported an EBIT loss of €127 million in Q3 due to weak demand and charges from repositioning.
- Daimler aims to further improve earnings in Q4 through new models and ongoing efficiency programs.
- Marathon Oil Corporation reported a net income of $2.064 billion for Q3 2008, more than double the $1.021 billion in Q3 2007. Revenues increased to $23.446 billion from $16.954 billion.
- Exploration and Production segment income nearly doubled to $939 million due to higher liquid hydrocarbon prices and sales volumes. Oil Sands Mining reported income of $288 million.
- Refining, Marketing and Transportation segment income increased to $771 million due to higher refining margins and crude oil differentials. Integrated Gas income was $65 million.
- Production averaged 379,000 barrels of oil equivalent per day, up from 371,000 in Q3 2007.
- The company reported higher earnings per share for the first quarter of 2008 than the first quarter of 2007, though total revenue was down due to a change in how a supply chain customer's transportation revenue was reported.
- Revenue for the Fleet Management Solutions segment grew due to increased contractual revenue and commercial rental revenue, as well as favorable foreign exchange rates.
- Supply Chain Solutions revenue declined from a change in revenue reporting for a transportation customer, though operating revenue increased due to foreign exchange and new business. Earnings declined due to various cost increases and reduced activity with some customers.
- Dedicated Contract Carriage revenue was slightly lower due to non-renewed contracts but earnings increased with lower insurance costs and better performance.
FMS operating revenue was up 5% year-over-year to $747.6 million due to 6% growth in contractual revenue including full service lease and contract maintenance revenue. FMS net before tax earnings increased 13% to $91.4 million and the net before tax earnings percent of operating revenue increased 90 basis points to 12.2%. FMS earnings benefited from improved contractual business performance, lower sales and marketing costs, and acquisitions.
- Marathon Oil Corporation reported Q4 2006 net income of $1.079 billion compared to $1.265 billion in Q4 2005. Full year 2006 net income was $5.234 billion compared to $3.032 billion in 2005.
- Upstream segment income decreased in Q4 2006 due to lower natural gas prices and volumes as well as higher costs, but increased for the full year due to higher oil volumes and prices.
- Downstream segment income decreased in Q4 2006 but increased for the full year due to Marathon's acquisition of a minority interest in 2005.
This document is Burlington Northern Santa Fe Corporation's Investors' Report for the first quarter of 2005. It includes:
- Record first quarter earnings of $0.83 per share, a 60% increase over the same period last year. Freight revenues increased 18% to $2.9 billion, also a record.
- Operating income increased 55% to $634 million due to 18% revenue growth and a 5 point reduction in operating ratio to 78.1%.
- Revenues increased double-digits across all business groups, especially consumer products which grew 22% due to international and trucking volume increases.
- The company transported a record number of cars/units and revenue ton miles
- Fleet Management Solutions operating revenue increased 2% to $713.9 million driven by a 6% increase in contractual revenue, while commercial rental revenue declined 13% and fuel services revenue declined 3%.
- Net before tax earnings for FMS increased 8% to $80.8 million, with earnings as a percentage of operating revenue increasing to 11.3% from 10.7% in the prior year.
- The company reaffirmed its full year 2007 earnings forecast of $4.30 to $4.40 per share, with second quarter earnings forecasted at $1.04 to $1.07 per share.
- Fleet Management Solutions operating revenue increased 2% to $713.9 million driven by a 6% increase in contractual revenue, while commercial rental revenue declined 13% and fuel services revenue declined 3%.
- Net before tax earnings for FMS increased 8% to $80.8 million and net before tax earnings as a percentage of operating revenue increased to 11.3% from 10.7% in the prior year.
- The company reaffirmed its full year 2007 earnings forecast of $4.30 to $4.40 per share, with second quarter earnings forecasted to be $1.04 to $1.07 per share.
Marathon Oil Corporation reported strong financial results for the fourth quarter and full year of 2005. Net income for Q4 2005 was $1.265 billion, up significantly from $429 million in Q4 2004. For the full year, net income was $3.032 billion compared to $1.261 billion in 2004. The company reinvested over 95% of its net income back into capital projects. Key events and achievements in 2005 included acquiring full ownership of its downstream business, progress on major projects like the Equatorial Guinea LNG expansion, and setting a new safety record.
This document provides comparative highlights and financial data for Omnicom for 1999 and 1998. It summarizes that worldwide billings increased 19% to $35.7 billion in 1999. Net income increased 30% to $362.9 million and earnings per share increased 29% to $2.07. It also provides an overview of the strong performance of Omnicom's advertising and marketing services brands in 1999.
1) Burlington Northern Santa Fe reported record first quarter revenues and earnings per share that were 31% higher than the previous year. Freight revenues increased 16% to $3.37 billion due to volume growth and rate increases including fuel surcharges.
2) Operating income increased 25% to $792 million while the operating ratio improved to 76.5% from 78.1% the previous year.
3) All four business groups - Consumer Products, Industrial Products, Coal, and Agricultural Products - experienced double-digit revenue growth in the quarter.
- Ryder reported earnings per share of $1.08 for the fourth quarter of 2006, up 17% from $0.92 in the fourth quarter of 2005. Total revenue increased 3% to $1.594 billion.
- For the full year 2006, Ryder reported earnings per share of $4.04, up 15% from $3.52 in 2005. Total revenue increased 10% to $6.307 billion.
- Ryder's Fleet Management Solutions segment saw a 2% increase in operating revenue and a 3% increase in net before tax earnings for the fourth quarter. For the full year, FMS operating revenue increased 2% and net before tax earnings increased 4%.
- Ryder reported earnings per share of $1.08 for the fourth quarter of 2006, up 17% from $0.92 in the fourth quarter of 2005. Revenue increased 3% to $1.594 billion.
- For the full year 2006, Ryder reported earnings per share of $4.04, up 15% from $3.52 in 2005. Revenue increased 10% to $6.307 billion.
- Ryder's Fleet Management Solutions segment saw a 2% increase in operating revenue and a 3% increase in net earnings before tax for the fourth quarter. For the full year, FMS operating revenue rose 2% and net earnings before tax increased 4%.
1) Amazon reported Q3 2008 financial results with net sales growing 31% year-over-year to $4.3 billion.
2) Operating income increased 26% to $154 million and net income grew 48% to $118 million.
3) International sales grew 46% year-over-year while electronics and other general merchandise sales increased 51%.
Marathon Oil Corporation reported strong financial results for the third quarter of 2006, with net income of $1.623 billion compared to $770 million in the third quarter of 2005. Segment income for exploration and production was $572 million, an increase from $373 million due to higher oil and gas prices and volumes. Refining, marketing, and transportation segment income was $1.026 billion, up significantly from $473 million, driven by higher refining margins. The integrated gas segment had a loss of $2 million compared to income of $22 million a year earlier. Marathon continued progress on major projects such as Alvheim in Norway and Neptune in the Gulf of Mexico and repurchased $1.146 billion of
Hexion reported financial results for Q4 2008 and fiscal year 2008. Q4 revenue declined 20% to $1.18 billion due to weak market conditions and inventory destocking by customers. The operating loss was $876 million compared to an operating income of $21 million in the prior year, reflecting $800 million in costs related to the terminated Huntsman merger. Segment EBITDA declined 63% to $46 million. For the full year, revenue increased 5% to $6.09 billion while the operating loss was $893 million compared to operating income of $302 million in 2007. Hexion is pursuing additional cost reduction programs and actions to improve cash flow and liquidity.
Marathon Oil Corporation reported financial results for the third quarter of 2005, with net income of $770 million compared to $222 million in the third quarter of 2004. Revenues increased to $17.2 billion from $12.3 billion. Exploration and production income increased due to higher oil and gas prices, though production was slightly below guidance due to Gulf of Mexico hurricanes. Refining and marketing income also increased due to strong performance despite hurricane impacts. The company continued major investments across all segments and production is recovering from the hurricanes.
Hexion reported financial results for Q4 2008 and fiscal year 2008. Q4 revenue declined 20% year-over-year to $1.18 billion due to weak market conditions and inventory destocking by customers amid the global recession. The company reported an operating loss of $876 million for Q4, which included $800 million in costs related to the terminated Huntsman merger. For the full year, revenues increased 5% to $6.09 billion but the company reported an operating loss of $893 million. Hexion is taking aggressive actions to reduce costs and enhance liquidity to address challenges in this difficult market environment.
DTE Energy reported strong financial results for the first quarter of 2002, with net income of $200 million, a 44% increase over the previous year. Earnings per share increased 27% to $1.24. The company benefited from contributions from its non-regulated businesses and its gas distribution utility, which was acquired in 2001. However, mild winter weather reduced gas sales. The company reaffirmed its 2002 earnings target range of $3.70 to $4.00 per share despite challenges from the economy, weather, and electric customer choice programs.
DTE Energy reported strong financial results for the first quarter of 2002, with net income of $200 million, a 44% increase over the previous year. Earnings per share increased 27% to $1.24. The results were driven by higher earnings from non-regulated businesses and the addition of DTE Energy's gas distribution business. Despite challenges like a mild winter and slow economic recovery, the company reaffirmed its full-year earnings target of $3.70 to $4.00 per share due to the diversity of its businesses.
Bank of America reported third quarter 2005 results with the following key points:
1) Diluted EPS was up 12% year-over-year but down 4% quarter-over-quarter due to higher credit costs and lower securities gains.
2) Revenue grew 16% year-over-year and 4% quarter-over-quarter driven by strong growth across all business segments.
3) Credit costs increased from very low levels in previous quarters as charge-offs moved off recent lows.
Similar to Q1 2009 Earning Report of Encana Corp. (20)
A. Schulman reported fiscal fourth-quarter and full-year 2009 results, with strong margins and excellent liquidity. For the quarter, gross margins reached 16.3% compared to 12.1% last year. North America approached break-even despite lower volumes. Cash on hand exceeded $228 million with over $300 million available in credit lines. For the full year, net sales were $1.28 billion, down 35.5% from last year. Gross margins increased to 13.3% from 11.8% last year, and income from continuing operations was $11.2 million.
BB&T Corporation presented its fourth quarter 2009 investor presentation. The presentation highlighted BB&T's strategic acquisition of Colonial Bank, which enhanced its franchise in key Southeastern markets. The Colonial transaction was deemed financially attractive and expected to be accretive to earnings, exceeding BB&T's merger criteria. BB&T has a proven track record of successfully integrating acquisitions and anticipated achieving annual cost savings of $170 million from the Colonial deal.
Brown & Brown Inc. reported a 1% increase in net income for the third quarter of 2009 compared to the same period in 2008. Total revenue decreased 1% for the quarter. Net income for the first nine months of 2009 was up slightly compared to the same period last year, while total revenue increased slightly. The company stated that results reflected a challenging operating environment with declines in insurable exposure units and soft market rates.
Boston Scientific reported financial results for the third quarter of 2009. Net sales increased 3% to $2.025 billion and adjusted EPS was $0.19. Reported GAAP EPS was $0.13. The company maintained its leadership in the worldwide DES market with a 41% share. Worldwide CRM product sales increased 8% and Endosurgery sales increased 8%. Guidance for Q4 2009 estimates net sales of $2.025-$2.125 billion and adjusted EPS of $0.17-$0.21. Full year 2009 guidance estimates net sales of $8.134-$8.234 billion and adjusted EPS of $0.75-$0.79.
Boston Scientific reported financial results for the third quarter of 2009. Net sales increased 3% to $2.025 billion and adjusted EPS was $0.19. Reported GAAP EPS was $0.13. The company maintained its leadership in the worldwide DES market with a 41% share. Worldwide CRM product sales increased 8% and Endosurgery sales increased 8%. Guidance for Q4 2009 estimates net sales of $2.025-$2.125 billion and adjusted EPS of $0.17-$0.21. Full year 2009 guidance estimates net sales of $8.134-$8.234 billion and adjusted EPS of $0.75-$0.79.
This document is Atheros Communications' quarterly report filed with the SEC for the quarter ended September 30, 2009. It includes Atheros' condensed consolidated financial statements, with assets of $676 million and liabilities of $103 million. It also provides management's discussion of the company's financial condition and operating results, and discusses risks including the economic downturn and competition in the wireless LAN market. The report includes certifications of the CEO and CFO regarding financial controls.
- The document is Apple Inc.'s Form 10-Q quarterly report filed with the SEC for the quarter ended June 27, 2009.
- It provides Apple's condensed consolidated financial statements and notes to the financial statements for the quarter.
- The financial statements show that Apple's net sales increased 12% to $8.3 billion for the quarter compared to $7.5 billion in the same quarter the previous year, while net income increased 15% to $1.2 billion from $1.1 billion.
This document provides an agenda and highlights for Walgreen Co.'s 4th quarter and fiscal year 2009 conference call with investors. It includes introductions, a discussion of 4Q and FY performance and strategies, financial results, and a Q&A session. Key metrics highlighted are 7.6% sales growth and a 1.5% decline in net earnings for 4Q, and 7.3% sales growth and a 7% decline in net earnings for FY2009. The document also outlines Walgreen's strategies around healthcare reform, the flu season, and expanding their business model.
1) Infosys Technologies reported financial results for the quarter ending September 30, 2009, with revenues of $1.154 billion, a 5.1% decline from the previous year. Net income was $317 million, a 0.9% decline.
2) For the quarter ending December 31, 2009, Infosys expects revenues between $1.155-1.165 billion, a 1.4-0.5% decline from the previous year, and earnings per share of $0.50, a 13.8% decline.
3) For the full fiscal year ending March 31, 2010, Infosys expects revenues between $4.60-4.62 billion, a 1
Marriott International reported financial results for the third quarter of 2009. Key highlights include:
- Revenue declined to $2.5 billion compared to $3 billion in Q3 2008 due to weaker demand.
- Net income declined 57% to $53 million compared to the prior year.
- REVPAR declined 23.5% worldwide and 20.6% in North America.
- The company added 79 new properties and expects to open over 33,000 new rooms in 2009.
PepsiCo held its 2009 Q3 earnings call on October 8, 2009. In the call, PepsiCo reaffirmed its guidance for 2009 of mid-to-high single digit constant currency net revenue and core EPS growth. PepsiCo also set a 2010 target of 11-13% core constant currency EPS growth, assuming the closing of acquisitions of PBG and PAS in early 2010. PepsiCo reported 5% constant currency net revenue growth and 8% core constant currency EPS growth in Q3 2009. PepsiCo highlighted investments planned for 2010 in areas such as R&D, emerging markets, brands, IT infrastructure, sustainability, and developing its employees.
- Alcoa held its 3rd quarter 2009 earnings conference call on October 7, 2009
- The call discussed Alcoa's financial results for the 3rd quarter of 2009 as well as the current state and outlook of the aluminum market
- Key highlights included income from continuing operations of $73 million, revenue up 9% sequentially, and initiatives offsetting currency and energy headwinds
The Pepsi Bottling Group reported third quarter 2009 results. Comparable diluted EPS was $1.06 and reported diluted EPS was $1.14. Currency neutral operating income grew 10% compared to the prior year on a comparable basis, while reported operating income declined 4% due to foreign exchange impacts. The company remains on track to achieve full-year 2009 guidance of $2.30-$2.40 diluted EPS at the high end of the range and has raised operating free cash flow guidance to approximately $550 million.
- Jean Coutu Group reported an increase in sales and revenues for the second quarter of 2010 compared to the same period last year. Total sales increased 7.7% to $549 million while revenues from franchising increased 7.3% to $608.7 million.
- Net earnings for the quarter were $14.9 million compared to a net loss of $39.1 million in the previous year. Earnings per share were $0.07 compared to a loss per share of $0.16 last year.
- Rite Aid also reported financial results for the second quarter, with revenues of $6.3 billion and a net loss of $116 million. Rite Aid revised its guidance
Minerva plc presented preliminary results for the year ended 30 June 2009. Key points included successfully restructuring and extending £750 million in loan facilities with no scheduled maturities in the current or next fiscal year. Development projects such as The Walbrook and St. Botolphs were on time and on budget. Tenant interest was improving for office developments in London's financial district despite a difficult real estate market.
This document is Worthington Industries' quarterly report filed with the SEC for the quarter ended August 31, 2009. It includes financial statements and notes for the quarter, as well as a discussion of financial results by management. Some key details include:
- Net sales for the quarter were $417.5 million, down from $913.2 million in the prior year quarter. The company reported a net loss of $4.5 million compared to net income of $79.7 million in the previous year.
- Inventories totaled $232.9 million as of August 31, 2009, down from $270.6 million as of May 31, 2009 as the company worked to reduce inventory levels.
The document provides the agenda and highlights from Walgreen Co.'s 4th quarter and fiscal year 2009 conference call with analysts held on September 29, 2009. It discusses 4th quarter and fiscal year financial results including net sales growth of 7.6% and 7.3% respectively, adjusted earnings per share of $0.44 and $2.02, and prescription sales growth. The document also summarizes Walgreen's strategies around healthcare reform, the H1N1 flu pandemic, expanding health services and 90-day prescriptions to lower costs.
This document is TRC Companies Inc's annual report on Form 10-K for the fiscal year ending June 30, 2009. It provides an overview of the company's business operations, financial highlights, services offered, clients, competition, backlog, employees, contracts with government agencies, regulatory matters, properties, legal proceedings, and financial data. Key information includes descriptions of TRC's engineering, environmental and construction management services, major clients in transportation, energy and development sectors, and discussions of financial results, market risks, and legal cases.
Mosaic reported its 1st quarter fiscal 2010 earnings. Net sales were $1.5 billion, down from $4.3 billion in the prior year. Net earnings were $100.6 million compared to $1.2 billion last year. Mosaic expects global economic recovery to drive increased demand for grains and fertilizers. It is pursuing potash and phosphate expansion projects and maintaining competitive production to position itself for recovery. The presentation reviewed Mosaic's strategic priorities and outlook across its business segments.
- Sensient Technologies Corporation reported diluted earnings per share of $0.47 for Q3 2009, equal to the prior year when adjusting for currency fluctuations. Revenue was $303.2 million, down 4.2% from Q3 2008 due to currency impacts.
- Cash flow from operations increased 55% to $43.1 million in Q3 2009 compared to $27.8 million in Q3 2008. Total debt was reduced to $444.5 million as of September 30, 2009.
- The Flavors & Fragrances Group saw a 1% decline in local currency revenue and stable local currency operating income compared to Q3 2008. The Color Group saw a 2.7% decline in local currency
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Q1 2009 Earning Report of Encana Corp.
1. EnCana generates first quarter cash flow of US$1.9 billion,
or $2.59 per share – down 18 percent
Calgary, Alberta, (April 22, 2009) – EnCana Corporation (TSX & NYSE: ECA) continued to deliver strong financial
and operating performance in the first quarter of 2009. Cash flow was US$1.9 billion, or $2.59 per share and operating
earnings were $948 million, or $1.26 per share – down 18 and 9 percent respectively on a per share basis compared to the
first quarter of 2008. These results are on track with 2009 guidance and were achieved during a quarter when benchmark
natural gas prices fell about 39 percent and oil prices were down about 56 percent compared to the same period in 2008.
First quarter natural gas and oil production increased 3 percent compared to the same period in 2008 to 4.7 billion cubic
feet equivalent per day (Bcfe/d). In addition, this production level is higher than EnCana’s first quarter production
expectations largely due to the impact of price-sensitive royalty rates in Alberta, which are reduced at lower prices and
increased at higher prices. EnCana reports production on an after-royalties basis. Before any price-related royalty impacts,
EnCana expects 2009 production to be at levels similar to the volumes produced in 2008.
“Operational excellence in our portfolio of low-cost, low-risk resource plays helped EnCana achieve cost-effective
production across North America. Underpinning our strong financial performance was close to $700 million in realized
after-tax gains from our natural gas hedges during the first quarter,” said Randy Eresman, EnCana’s President & Chief
Executive Officer.
Modest capital program aligned to economic conditions
“With continued economic uncertainty and low prices, particularly for natural gas, we remain focused on directing our
capital investment to only our highest return projects. For 2009, we set a modest capital program with the flexibility to
align investments with the industry conditions. Our North American resource play business model and our conservative
investment approach will help EnCana generate strong performance through 2009 and withstand the prevailing economic
downturn.
“EnCana’s financial position is strong. Our debt ratios remain below our targeted ranges and we have hedged about two-
thirds of our total expected natural gas production through October of this year at an average price of $9.13 per thousand
cubic feet (Mcf), which is about two and a half times the current spot price. Our hedging strategy is aimed at providing an
increased level of certainty to our cash flows so that we can efficiently manage our capital programs,” Eresman said.
Industry costs starting to drop
“In the first quarter, operating and administrative costs decreased about 31 percent compared with the same period the
year before, to $1.06 per thousand cubic feet of gas equivalent (Mcfe), due primarily to a weaker Canadian dollar, lower
fuel prices and lower long-term incentive costs. Substantially reduced field activity across North America is starting to
result in lower supply and services pricing and, by the end of 2009, we anticipate price reductions could reach more than
20 percent from 2008 average costs, if current trends continue. So far in 2009, we’re tracking lower on capital investment
and operating and administrative costs, and by mid-year we expect to know how much this will impact our overall
expenditures for 2009,” Eresman said.
IMPORTANT NOTE: EnCana reports in U.S. dollars unless otherwise noted and follows U.S. protocols, which
report gas and oil production, sales and reserves on an after-royalties basis. The company’s financial statements
are prepared in accordance with Canadian generally accepted accounting principles (GAAP). Per share amounts
for cash flow and earnings are on a diluted basis.
EnCana Corporation 1
2. First Quarter 2009 Highlights
(all year-over-year comparisons are to the first quarter of 2008)
Financial
• Cash flow decreased 18 percent per share to $2.59, or $1.9 billion
• Operating earnings were down 9 percent per share to $1.26, or $948 million
• Net earnings increased to $1.28 per share, or $962 million, primarily due to an after-tax unrealized mark-to-market
hedging gain of $89 million in the first quarter of 2009 compared to an after-tax loss of $737 million in the first
quarter of 2008
• Capital investment, excluding acquisitions and divestitures, was down 18 percent to $1.5 billion
• Free cash flow was $436 million, down 19 percent (Free cash flow is defined in Note 1 on page 6)
• EnCana’s integrated oil business venture with ConocoPhillips generated $116 million in operating cash flow,
comprised of $57 million from the company’s Foster Creek and Christina Lake upstream projects, and $59 million
from the downstream business. Operating cash flow was down $54 million due largely to lower oil prices
• Realized natural gas prices were down 10 percent to $7.22 per Mcf and realized liquids prices decreased 51 percent to
$34.24 per barrel (bbl). These prices include financial hedges
• At the end of the quarter, debt to capitalization was 29 percent and debt to adjusted EBITDA was 0.7 times.
Operating – Upstream
• Key resource play production was up 8 percent, with an 8 percent increase in natural gas production and oil
production increasing 7 percent
• Total natural gas production increased 4 percent to 3.87 billion cubic feet per day (Bcf/d), up 4 percent per share
• Total oil and natural gas liquids (NGLs) production decreased 2 percent to 134,280 barrels per day (bbls/d), down
2 percent per share
• Foster Creek and Christina Lake oil production grew 18 percent to 34,729 bbls/d net to EnCana
• Operating and administrative costs of $1.06 per Mcfe decreased from $1.53 per Mcfe in the first quarter of 2008,
primarily due to a weaker Canadian dollar, lower fuel costs and lower long-term incentive costs as a result of a
declining share price.
Operating – Downstream
• Refined products averaged 421,000 bbls/d (210,500 bbls/d net to EnCana), down 3 percent
• Refinery crude utilization of 88 percent or 398,000 bbls/d crude throughput (199,000 bbls/d net to EnCana), down
2 percent.
Majority of net earnings year-over-year increase related to unrealized mark-to-market accounting gains
EnCana’s net earnings in the first quarter were $962 million, an increase of $869 million from the first quarter of 2008.
First quarter 2009 net earnings included $89 million of after-tax unrealized gains due to mark-to-market accounting for
hedging contracts compared to an after-tax loss of $737 million in the first quarter of 2008, a swing of $826 million in net
earnings. It is because of these dramatic mark-to-market accounting swings in net earnings that EnCana focuses on
operating earnings as a better measure of quarter-over-quarter earnings performance.
Realized after-tax hedging gains for the first five months of the 2008-2009 natural gas year, which runs from November 1,
2008 to October 31, 2009, were $1.0 billion, and unrealized after-tax gains for the remainder of the gas year are currently
forecast to be $1.9 billion, for a total of $2.9 billion, after-tax.
EnCana Corporation 2
3. Financial Summary – Total Consolidated
Q1
Q1
(for the three months ended March 31)
2008 %∆
2009
($ millions, except per share amounts)
Cash flow 1 2,389 -19
1,944
Per share diluted 3.17 -18
2.59
Net earnings 93
962
Per share diluted 0.12
1.28
Operating earnings 1 1,045 -9
948
Per share diluted 1.39 -9
1.26
Earnings Reconciliation Summary – Total Consolidated
93
Net earnings 962
Add back (losses) & deduct gains
Unrealized mark-to-market hedging gain (loss), after-tax (737)
89
Non-operating foreign exchange gain (loss), after-tax (215)
(75)
Operating earnings1 1,045 -9
948
Per share diluted 1.39 -9
1.26
1 Cash flow and operating earnings are non-GAAP measures as defined in Note 1 on Page 6 & 7.
Production & Drilling Summary
Total Consolidated
(for the three months ended March 31) Q1
Q1
(After royalties)
2008 %∆
2009
Natural gas (MMcf/d) 3,733 +4
3,869
Natural gas production per 1,000 shares (Mcf/d) 4.98 +4
5.16
Oil and NGLs (Mbbls/d) 137 -2
134
Oil and NGLs production per 1,000 shares (Mcfe/d) 1.10 -2
1.07
Total production (MMcfe/d) 4,557 +3
4,675
Total production per 1,000 shares (Mcfe/d) 6.08 +3
6.23
1,143 -23
Net wells drilled 883
Key resource play production increased in first quarter
Total production from key resource plays was 3.7 Bcfe/d compared to 3.4 Bcfe/d in the first quarter of 2008. This was led
by a 50 percent production increase in the East Texas key resource play due to ongoing success at the Deep Bossier
play. EnCana continued to drill prolific wells in the Amoruso field, where 30-day initial production rates averaged more
than 19 MMcf/d. The Charlene #1 well was completed in January and flowed during initial evaluation in excess of
50 MMcf/d.
EnCana encouraged by resource potential in Haynesville shale play
“While it is early days in the development of the Haynesville play in Louisiana and Texas, there have been some very
encouraging results from our program as well as from other producers in the region,” said Jeff Wojahn, EnCana’s
Executive Vice-President and President, USA Division. “Given the significant potential of our lands, we plan to re-
allocate $290 million of savings from other areas of the company into our Haynesville program this year. With a total
capital program of $580 million we will be drilling about 50 net wells which will enable us to continue to increase our
understanding of the play, further evaluate our lands, and retain prospective acreage.” In anticipation of increased future
production from the region and to facilitate unrestrained market access for the company’s expected production growth,
EnCana is advancing plans for midstream processing and gas transportation. This includes recent commitments of
150 million cubic feet per day of capacity on the proposed Gulf South pipeline expansion and 500 million cubic feet per
day of service on the proposed ETC Tiger pipeline.
EnCana Corporation 3
4. Development continues in promising Horn River shale play
EnCana remains optimistic about the production potential from its land holdings in the Horn River shale play in northeast
British Columbia. The company has adopted a more efficient way to develop the natural gas in this play by increasing the
number of fracture stimulations per long-reach horizontal well leg. EnCana and its partner Apache now expect to increase
their fracs per leg to as many as 14 from the originally-planned eight fracs. This could reduce the number of wells
required to recover the resource because more of the natural gas can be accessed from each well. The revised plan is to
drill 12 net wells this year, rather than the 20 initially scheduled. Public consultations are underway for the proposed
Cabin Gas Plant, to be built about 60 kilometres northeast of Fort Nelson, British Columbia. The proposed plant, in which
EnCana holds a 25 percent interest, is expected to have an initial processing capacity of 400 MMcf/d. Processing capacity
is expected to expand in stages in conjunction with production growth from the Horn River Basin. The first phase of the
project is expected to be commissioned in the third quarter of 2011. EnCana plans to construct the plant on behalf of
industry co-owners who are major land holders in the Horn River Basin.
Foster Creek and Christina Lake expansions increase capacity
The commissioning of recent expansions at Foster Creek, which are expected to increase plant capacity to 60,000 bbls/d
net to EnCana, is nearly complete and production is ramping up. First quarter production of approximately 28,000 bbls/d
is targeted to increase to more than 45,000 bbls/d by year-end. At Christina Lake, first quarter production was more than
6,500 bbls/d – a 152 percent increase over the first quarter of 2008 as a result of an expansion that was completed in mid-
2008. Construction continues on the next phase of expansion at Christina Lake, which is targeted to increase net plant
capacity to 29,000 bbls/d in 2011.
Growth from key North American resource plays
Daily Production
Resource Play 2008 2007
2009
Full Full
(After royalties) Q4 Q3 Q2 Q1
Q1
Year Year
Natural gas (MMcf/d)
Jonah 603 573 615 630 595 557
623
Piceance 385 377 407 383 372 348
386
East Texas 334 408 339 316 273 143
409
Fort Worth 142 143 148 137 140 124
149
Greater Sierra 220 228 228 219 205 211
215
Cutbank Ridge 296 311 322 280 271 258
323
Bighorn 167 165 185 170 146 126
156
CBM 304 308 309 303 298 259
309
Shallow Gas 700 683 691 712 715 726
673
Total natural gas
3,151 3,196 3,244 3,150 3,015 2,752
(MMcf/d) 3,243
Oil (Mbbls/d)
Foster Creek 26 29 27 21 27 24
28
Christina Lake 4 6 5 4 2 3
7
Pelican Lake 22 20 22 21 24 23
21
Weyburn 14 15 14 13 14 15
16
Total oil (Mbbls/d)1 66 71 67 59 67 65
72
Total (MMcfe/d)1 3,548 3,621 3,648 3,506 3,417 3,141
3,676
% change from prior
period +12.9
+13.0 -0.7 +4.1 +2.6 +2.7
+1.5
1 Totals may not add due to rounding.
EnCana Corporation 4
5. Drilling activity in key North American resource plays
Net Wells Drilled
2008 2007
2009
Resource Play
Full Full
Q4 Q3 Q2 Q1
Q1
Year Year
Natural gas
Jonah 175 40 43 49 43 135
35
Piceance 328 70 94 81 83 286
53
East Texas 78 23 22 22 11 35
15
Fort Worth 83 21 21 20 21 75
16
Greater Sierra 106 14 29 27 36 109
15
Cutbank Ridge 82 17 17 24 24 93
20
Bighorn 64 5 11 18 30 62
21
CBM 698 359 78 10 251 1,079
278
233 83
Shallow Gas 1,195 383 496 1,914
336
2,809 932 548 334 995 3,788
Total gas wells 789
Oil
Foster Creek 20 1 6 1 12 23
6
Christina Lake - - - - - 3
-
Pelican Lake - - - - - -
4
Weyburn 21 3 4 5 9 37
-
41 4 10 6 21 63
Total oil wells 10
2,850 936 558 340 1,016 3,851
Total 799
First quarter natural gas and oil prices
Q1
Q1
2008
Natural gas 2009 %∆
NYMEX ($/MMBtu) 8.03 -39
4.89
EnCana realized gas price1 ($/Mcf) 8.02 -10
7.22
Oil and NGLs ($/bbl)
WTI 97.82 -56
43.31
Western Canadian Select (WCS) 76.37 -55
34.38
Differential WTI/WCS 21.45 -58
8.93
EnCana realized liquids price1 69.59 -51
34.24
Chicago 3-2-1 crack spread ($/bbl) 7.69 +27
9.75
1 Realized prices include the impact of financial hedging.
Price risk management
Risk management positions at March 31, 2009 are presented in Note 16 to the unaudited Interim Consolidated Financial
Statements. In the first quarter of 2009, EnCana’s commodity price risk management measures resulted in realized gains
of approximately $699 million after-tax, composed of a $693 million after-tax gain on gas price and basis hedges and a
$6 million after-tax gain on other hedges.
Two-thirds of expected 2009 gas production hedged during first 10 months of 2009
EnCana has hedged about 2.6 Bcf/d of expected gas production through October 2009 at an average NYMEX equivalent
price of $9.13 per Mcf. This price hedging strategy increases certainty in cash flow to help ensure that EnCana can meet
its capital and dividend requirements without substantially adding to debt. EnCana continually assesses its hedging needs
and the opportunities available prior to establishing its capital program for the upcoming year.
EnCana Corporation 5
6. Corporate developments
Quarterly dividend of 40 cents per share declared
EnCana’s Board of Directors has declared a quarterly dividend of 40 cents per share payable on June 30, 2009 to common
shareholders of record as of June 15, 2009. Based on the April 21, 2009 closing share price on the New York Stock
Exchange of $42.94, this represents an annualized yield of about 3.7 percent.
EnCana’s corporate guidance is unchanged from the most recent update published February 12, 2009.
Financial strength
EnCana has a very strong balance sheet, with 78 percent of EnCana’s outstanding debt comprised of long-term, fixed-rate
debt with an average remaining term of more than 14 years. Upcoming debt maturities in 2009 are $250 million and
$200 million in 2010. At March 31, 2009, EnCana had $2.0 billion in unused committed credit facilities. EnCana targets a
debt to capitalization ratio between 30 and 40 percent and a debt to adjusted EBITDA ratio of 1.0 to 2.0 times. At March
31, 2009, the company’s debt to capitalization ratio was 29 percent and debt to adjusted EBITDA, on a trailing 12-month
basis, was 0.7 times.
In the first quarter of 2009, EnCana invested $1.5 billion in capital, excluding acquisitions and divestitures, with a focus
on continued development of the company’s key resource plays and expansion of downstream heavy crude oil refining
capacity.
EnCana invested about $79 million in land acquisitions in the first quarter and divested about $33 million of mature
properties in Western Canada. Depending on market conditions for the rest of this year, EnCana may divest between
$500 million and $1 billion of assets.
CONFERENCE CALL TODAY
10 a.m. Mountain Time (12 p.m. Eastern Time)
EnCana will host a conference call today Wednesday, April 22, 2009 starting at 10:00 a.m. MT
(12:00 p.m. ET). To participate, please dial (800) 731-6941 (toll-free in North America) or (416) 644-3417
approximately 10 minutes prior to the conference call. An archived recording of the call will be available from
approximately 2:00 p.m. MT on April 22 until midnight April 29, 2009 by dialling (877) 289-8525 or (416)
640-1917 and entering access code 21301123 followed by the pound (#) sign.
A live audio webcast of the conference call will also be available via EnCana’s website, www.encana.com,
under Investor Relations. The webcast will be archived for approximately 90 days.
NOTE 1: Non-GAAP measures
This news release contains references to non-GAAP measures as follows:
• Cash flow is a non-GAAP measure defined as cash from operating activities excluding net change in other assets and
liabilities and net change in non-cash working capital, both of which are defined on the Consolidated Statement of
Cash Flows, in this news release and interim financial statements.
• Free cash flow is a non-GAAP measure that EnCana defines as cash flow in excess of capital investment, excluding
net acquisitions and divestitures, and is used to determine the funds available for other investing and/or financing
activities.
EnCana Corporation 6
7. • Operating earnings is a non-GAAP measure that shows net earnings excluding non-operating items such as the after-
tax impacts of a gain/loss on discontinuance, the after-tax gain/loss of unrealized mark-to-market accounting for
derivative instruments, the after-tax gain/loss on translation of U.S. dollar denominated debt issued from Canada and
the partnership contribution receivable, the after-tax foreign exchange gain/loss on settlement of intercompany
transactions, future income tax on foreign exchange related to U.S. dollar intercompany debt recognized for tax
purposes only and the effect of changes in statutory income tax rates. Management believes that these excluded items
reduce the comparability of the company’s underlying financial performance between periods. The majority of the
U.S. dollar debt issued from Canada has maturity dates in excess of five years.
• Capitalization is a non-GAAP measure defined as debt plus shareholders’ equity. Debt to capitalization and debt to
adjusted EBITDA are two ratios which management uses to steward the company’s overall debt position as measures
of the company’s overall financial strength.
• Adjusted EBITDA is a non-GAAP measure defined as net earnings before gains or losses on divestitures, income
taxes, foreign exchange gains or losses, interest net, accretion of asset retirement obligation, and depreciation,
depletion and amortization.
These measures have been described and presented in this news release in order to provide shareholders and potential
investors with additional information regarding EnCana’s liquidity and its ability to generate funds to finance its
operations.
EnCana Corporation
With an enterprise value of approximately $40 billion, EnCana is a leading North American unconventional natural gas
and integrated oil company. By partnering with employees, community organizations and other businesses, EnCana
contributes to the strength and sustainability of the communities where it operates. EnCana common shares trade on the
Toronto and New York stock exchanges under the symbol ECA.
ADVISORY REGARDING RESERVES DATA AND OTHER OIL AND GAS INFORMATION – EnCana's
disclosure of reserves data and other oil and gas information is made in reliance on an exemption granted to EnCana by
Canadian securities regulatory authorities which permits it to provide such disclosure in accordance with U.S. disclosure
requirements. The information provided by EnCana may differ from the corresponding information prepared in
accordance with Canadian disclosure standards under National Instrument 51-101 (NI 51-101). EnCana’s reserves
quantities represent net proved reserves calculated using the standards contained in Regulation S-X of the U.S. Securities
and Exchange Commission. Further information about the differences between the U.S. requirements and the NI 51-101
requirements is set forth under the heading quot;Note Regarding Reserves Data and Other Oil and Gas Informationquot; in
EnCana's Annual Information Form.
In this news release, certain crude oil and NGLs volumes have been converted to cubic feet equivalent (cfe) on the basis
of one barrel (bbl) to six thousand cubic feet (Mcf). Also, certain natural gas volumes have been converted to barrels of oil
equivalent (BOE) on the same basis. BOE and cfe may be misleading, particularly if used in isolation. A conversion ratio
of one bbl to six Mcf is based on an energy equivalency conversion method primarily applicable at the burner tip and does
not represent value equivalency at the well head.
ADVISORY REGARDING FORWARD-LOOKING STATEMENTS – In the interests of providing EnCana
shareholders and potential investors with information regarding EnCana, including management’s assessment of
EnCana’s and its subsidiaries’ future plans and operations, certain statements contained in this news release are forward-
looking statements or information within the meaning of applicable securities legislation, collectively referred to herein as
“forward-looking statements.” Forward-looking statements in this news release include, but are not limited to: future
economic and operating performance (including per share growth, debt to capitalization ratio, debt to adjusted EBITDA
ratio, sustainable growth and returns, cash flow, cash flow per share, operating earnings and increases in net asset value);
anticipated ability to meet the company’s guidance forecasts; anticipated life of proved reserves; anticipated growth and
success of resource plays and the expected characteristics of resource plays; anticipated production and drilling in the
Horn River and Haynesville areas; anticipated cost reductions and production efficiencies from fracture stimulations;
anticipated capacity and timing for the proposed Cabin Gas Plant; planned expansion of in-situ oil production; anticipated
crude oil and natural gas prices, including basis differentials for various regions; anticipated expansion and production at
Foster Creek and Christina Lake; anticipated divestitures; potential dividends; anticipated success of EnCana’s price risk
EnCana Corporation 7
8. management strategy; anticipated hedging gains; potential demand for natural gas; anticipated drilling; potential capital
expenditures and investment; potential oil, natural gas and NGLs production in 2009 and beyond; anticipated costs and
cost reductions; and references to potential exploration. Readers are cautioned not to place undue reliance on forward-
looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will
occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and
uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and
other forward-looking statements will not occur, which may cause the company’s actual performance and financial results
in future periods to differ materially from any estimates or projections of future performance or results expressed or
implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things:
volatility of and assumptions regarding oil and gas prices; assumptions based upon the company’s current guidance;
fluctuations in currency and interest rates; product supply and demand; market competition; risks inherent in the
company’s marketing operations, including credit risks; imprecision of reserves estimates and estimates of recoverable
quantities of oil, natural gas and liquids from resource plays and other sources not currently classified as proved reserves;
the ability of the company and ConocoPhillips to successfully manage and operate the integrated North American oil
business and the ability of the parties to obtain necessary regulatory approvals; refining and marketing margins; potential
disruption or unexpected technical difficulties in developing new products and manufacturing processes; potential failure
of new products to achieve acceptance in the market; unexpected cost increases or technical difficulties in constructing or
modifying manufacturing or refining facilities; unexpected difficulties in manufacturing, transporting or refining synthetic
crude oil; risks associated with technology; the company’s ability to replace and expand oil and gas reserves; its ability to
generate sufficient cash flow from operations to meet its current and future obligations; its ability to access external
sources of debt and equity capital; the timing and the costs of well and pipeline construction; the company’s ability to
secure adequate product transportation; changes in royalty, tax, environmental and other laws or regulations or the
interpretations of such laws or regulations; political and economic conditions in the countries in which the company
operates; the risk of war, hostilities, civil insurrection and instability affecting countries in which the company operates
and terrorist threats; risks associated with existing and potential future lawsuits and regulatory actions made against the
company; and other risks and uncertainties described from time to time in the reports and filings made with securities
regulatory authorities by EnCana. Although EnCana believes that the expectations represented by such forward-looking
statements are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned
that the foregoing list of important factors is not exhaustive.
Forward-looking information respecting anticipated 2009 cash flow for EnCana is based upon achieving average
production of oil and gas for 2009 of approximately 4.6 Bcfe/d, average commodity prices for 2009 based on a WTI price
of $55 - $75/bbl for oil, a NYMEX price of $5.50 - $7.50/Mcf for natural gas, an average U.S./Canadian dollar foreign
exchange rate of $0.75 - $0.85, an average Chicago 3-2-1 crack spread for 2009 of $5 - $10/bbl for refining margins, and
an average number of outstanding shares for EnCana of approximately 750 million. Assumptions relating to forward-
looking statements generally include EnCana’s current expectations and projections made by the company in light of, and
generally consistent with, its historical experience and its perception of historical trends, as well as expectations regarding
rates of advancement and innovation, generally consistent with and informed by its past experience, all of which are
subject to the risk factors identified elsewhere in this news release.
Furthermore, the forward-looking statements contained in this news release are made as of the date of this news release,
and, except as required by law, EnCana does not undertake any obligation to update publicly or to revise any of the
included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-
looking statements contained in this news release are expressly qualified by this cautionary statement.
EnCana Corporation 8
9. Further information on EnCana Corporation is available on the company’s website, www.encana.com, or by contacting:
FOR FURTHER INFORMATION:
Investor contact: Media contact:
EnCana Corporate Communications
Paul Gagne Alan Boras
Vice-President, Investor Relations Manager, Media Relations
(403) 645-4737 (403) 645-4747
Ryder McRitchie
Manager, Investor Relations
(403) 645-2007
Susan Grey
Manager, Investor Relations
(403) 645-4751
EnCana Corporation 9