- Adobe reported its financial results for the second quarter of fiscal year 2009, with total revenue of $704.7 million, down 20% from the same quarter last year.
- Net income was $126.1 million, down 41% from the prior year. Diluted earnings per share were $0.24.
- For the third quarter of fiscal 2009, Adobe estimates non-GAAP diluted earnings per share to be between $0.30 to $0.37.
This document is an SEC Form 10-Q quarterly report filed by HSBC Finance Corporation. It provides financial statements and disclosures for the quarter ending June 30, 2008, including:
- Consolidated statements of income, balance sheets, cash flows, and changes in shareholders' equity.
- Notes to the financial statements providing details on accounting policies, segment information, credit quality, liquidity, and other disclosures.
- Management's discussion and analysis of financial condition, results of operations, credit quality, liquidity, risk management, and reconciliations to GAAP measures.
goldman sachs Second Quarter 2008 Form 10-Q finance2
The document is Goldman Sachs' quarterly report filed with the SEC for the fiscal quarter ended May 30, 2008. It includes Goldman Sachs' condensed consolidated financial statements such as statements of earnings, financial condition, changes in shareholders' equity, and cash flows for the relevant periods. The report also provides details on Goldman Sachs' business segments, revenues, expenses, assets, liabilities, and shareholder information for the quarter.
goldman sachs First Quarter 2008 Form 10-Q finance2
This document is Goldman Sachs' quarterly report filed with the SEC for the quarter ended February 29, 2008. It includes Goldman Sachs' condensed consolidated financial statements such as statements of earnings, financial condition, changes in shareholders' equity, and cash flows. It also includes notes to the financial statements and sections for management discussion/analysis of financial results, market risk disclosures, and certifications of internal controls. The report provides key financial information on Goldman Sachs' performance, position, and activities during the reported quarter to shareholders and regulators.
This document provides an overview of the Indian treasury bond market and interest rate futures. It discusses key concepts such as treasury bills, dated government securities, and the zero coupon yield curve. It also describes the history and features of interest rate futures in India, contract specifications, clearing and settlement processes, major market participants, and benefits of interest rate futures for hedging and trading. The document also notes some impediments to growth in the Indian bond futures market such as patchy liquidity.
- The document is a quarterly report filed by the Federal National Mortgage Association (Fannie Mae) with the United States Securities and Exchange Commission for the quarterly period ended September 30, 2007.
- It includes Fannie Mae's condensed consolidated financial statements and notes for the period, as well as management's discussion and analysis of financial condition and results of operations.
- The report provides information on Fannie Mae's business segments, financial position and performance for the period in compliance with SEC reporting requirements.
This document is Fannie Mae's annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2006. It provides an overview of Fannie Mae's business operations, including its role in the residential mortgage market, business segments, customers, risk management practices, and regulation. It also addresses various legal proceedings, selected financial data, management's discussion and analysis of financial condition and results of operations, controls and procedures, and other required disclosures.
This document is the quarterly report filed by the Federal National Mortgage Association (Fannie Mae) with the United States Securities and Exchange Commission for the quarterly period ended March 31, 2007. It includes Fannie Mae's unaudited condensed consolidated financial statements and notes, as well as management's discussion and analysis of financial condition and results of operations. The report provides information on Fannie Mae's business segments, financial position and performance, liquidity and capital resources, risk management, and accounting policies.
This document is an SEC Form 10-Q quarterly report filed by HSBC Finance Corporation. It provides financial statements and disclosures for the quarter ending June 30, 2008, including:
- Consolidated statements of income, balance sheets, cash flows, and changes in shareholders' equity.
- Notes to the financial statements providing details on accounting policies, segment information, credit quality, liquidity, and other disclosures.
- Management's discussion and analysis of financial condition, results of operations, credit quality, liquidity, risk management, and reconciliations to GAAP measures.
goldman sachs Second Quarter 2008 Form 10-Q finance2
The document is Goldman Sachs' quarterly report filed with the SEC for the fiscal quarter ended May 30, 2008. It includes Goldman Sachs' condensed consolidated financial statements such as statements of earnings, financial condition, changes in shareholders' equity, and cash flows for the relevant periods. The report also provides details on Goldman Sachs' business segments, revenues, expenses, assets, liabilities, and shareholder information for the quarter.
goldman sachs First Quarter 2008 Form 10-Q finance2
This document is Goldman Sachs' quarterly report filed with the SEC for the quarter ended February 29, 2008. It includes Goldman Sachs' condensed consolidated financial statements such as statements of earnings, financial condition, changes in shareholders' equity, and cash flows. It also includes notes to the financial statements and sections for management discussion/analysis of financial results, market risk disclosures, and certifications of internal controls. The report provides key financial information on Goldman Sachs' performance, position, and activities during the reported quarter to shareholders and regulators.
This document provides an overview of the Indian treasury bond market and interest rate futures. It discusses key concepts such as treasury bills, dated government securities, and the zero coupon yield curve. It also describes the history and features of interest rate futures in India, contract specifications, clearing and settlement processes, major market participants, and benefits of interest rate futures for hedging and trading. The document also notes some impediments to growth in the Indian bond futures market such as patchy liquidity.
- The document is a quarterly report filed by the Federal National Mortgage Association (Fannie Mae) with the United States Securities and Exchange Commission for the quarterly period ended September 30, 2007.
- It includes Fannie Mae's condensed consolidated financial statements and notes for the period, as well as management's discussion and analysis of financial condition and results of operations.
- The report provides information on Fannie Mae's business segments, financial position and performance for the period in compliance with SEC reporting requirements.
This document is Fannie Mae's annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2006. It provides an overview of Fannie Mae's business operations, including its role in the residential mortgage market, business segments, customers, risk management practices, and regulation. It also addresses various legal proceedings, selected financial data, management's discussion and analysis of financial condition and results of operations, controls and procedures, and other required disclosures.
This document is the quarterly report filed by the Federal National Mortgage Association (Fannie Mae) with the United States Securities and Exchange Commission for the quarterly period ended March 31, 2007. It includes Fannie Mae's unaudited condensed consolidated financial statements and notes, as well as management's discussion and analysis of financial condition and results of operations. The report provides information on Fannie Mae's business segments, financial position and performance, liquidity and capital resources, risk management, and accounting policies.
Qwest Communications International Inc. reported financial results for the quarter ended March 31, 2008. Total operating revenue for Qwest was $3.4 billion for the quarter. Net income was $157 million, with basic earnings per share of $0.09. Total assets as of March 31, 2008 were $21.9 billion, with current assets of $3.2 billion. Cash provided by operating activities for the quarter was $388 million.
This document provides financial and operating reports for TXU Corp. and subsidiaries for the first quarter of 2001 and full year 2000. It includes statements of consolidated income, operating revenues and expenses, net income, earnings per share, and statements of consolidated cash flows. Some key details are revenues for the first quarter of 2001 were $8.4 billion, a 75% increase from the same period in 2000. Net income for the full year 2000 was $907 million, an 9% decrease from 1999. Cash provided by operating activities for 2000 was $2.5 billion.
fannie mae 2007 Year-End Earnings/Annual Reportfinance6
This document is Fannie Mae's annual report on Form 10-K for the fiscal year ended December 31, 2007 filed with the United States Securities and Exchange Commission. It summarizes Fannie Mae's business operations, financial results, risks, legal proceedings, and other required disclosures. Specifically, it provides an overview of Fannie Mae's mission and role in the housing and mortgage markets, describes its business segments and activities, reviews its financial results for 2007 including net income of $11.8 billion, and identifies various legal, regulatory and operational risks facing the company. The report was filed to comply with SEC reporting requirements for publicly traded companies.
This document summarizes research conducted on SME access to finance in the North East of England. Interviews and surveys were conducted with banks, business angels, and SMEs to understand challenges on both the demand and supply sides of SME financing. Key findings include a more cautious approach to lending from banks post-2008, information asymmetry problems in lending decisions, and insufficient high-quality investment opportunities for business angels in the region. Recommendations focus on improving guidance, support, and flow of opportunities to address financing constraints faced by SMEs.
This document is Fannie Mae's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2008. It includes Fannie Mae's unaudited condensed consolidated financial statements and notes, as well as management's discussion and analysis of financial condition and results of operations. Some key details include:
- Fannie Mae reported a net loss of $1.5 billion for the first quarter of 2008, compared to net income of $1.6 billion for the same period in 2007.
- Net interest income decreased by $0.4 billion compared to the first quarter of 2007, primarily due to higher debt funding costs and lower yields on mortgage loans and investments.
- Credit-
This document provides the table of contents for the Statements of Statutory Accounting Principles (SSAPs) - Volume I manual as of March 2010. It lists 100 SSAPs covering various accounting topics for areas such as assets, liabilities, income, expenses, and other financial statement items. It also includes excerpts of NAIC model laws and 26 interpretations of emerging accounting issues. The table of contents provides the SSAP number, title, and page number for each pronouncement as well as the number, title, and page for items in the appendices and interpretations.
This document is an industry agents' handbook that provides information and guidelines on various topics for travel agents. It includes sections on airline participants in the ARC settlement plan, ARC financial instruments like bonds and letters of credit required for agents, how to use the My ARC portal, ticketing procedures, and interactive agent reporting. The handbook outlines terms of use, data usage, contact resources, and provides tips for agents. It is a comprehensive reference for travel sellers on ARC programs, policies, and transaction processing.
This document provides a year-end tax guide for 2011, outlining key tax law changes and opportunities for individuals and businesses. Some highlights include:
- The individual income tax rates were extended through 2012. The alternative minimum tax exemption was increased for 2011 to help mitigate the impact.
- Payroll taxes were reduced for 2011 only. Medical expense deductions were tightened.
- Opportunities exist to maximize deductions, accelerate or defer income/losses, and make charitable donations of appreciated assets.
- Estate tax laws were changed, increasing the lifetime gift and estate tax exemption through 2012. Planning techniques like lifetime gifts can help take advantage.
This document is a financial supplement providing quarterly financial results for Genworth Financial, Inc. for 3Q 2008. It includes sections on net income, net operating income by business segment, balance sheets, investment portfolio details, and non-GAAP financial measures reconciliations. New metrics were added this quarter to provide more transparency into financial trends for the International and U.S. Mortgage Insurance segments.
This document is the annual report filed by Federal National Mortgage Association (Fannie Mae) with the United States Securities and Exchange Commission for the fiscal year ended December 31, 2004. It summarizes Fannie Mae's business operations, financial performance, accounting policies, legal proceedings, risk factors, and corporate leadership. Specifically, it discusses Fannie Mae's core business of securitizing mortgages in the secondary market, its four business segments, the competitive landscape, and its regulation as a government-sponsored enterprise. It also reports on Fannie Mae's financial restatement, investigations into accounting irregularities, and its internal controls and procedures.
This document provides condensed financial statements for Qwest Communications International Inc. as of June 30, 2008. It includes statements of operations, balance sheets, and cash flows. For the six months ended June 30, 2008, Qwest reported total operating revenues of $3,382 million and net income of $188 million. Total assets as of June 30, 2008 were $21,894 million, with total liabilities of $21,391 million resulting in total stockholders' equity of $503 million. For the six months ended June 30, 2008, cash provided by operating activities was $1,297 million and cash used for investing activities, primarily capital expenditures, was $950 million.
City of Chillicothe Comprehensive Annual Financial Report for 2011tomspetnagel
This document is the Comprehensive Annual Financial Report for the City of Chillicothe, Ohio for the year ended December 31, 2011. It was prepared by City Auditor Thomas M. Spetnagel Jr. and contains the city's audited financial statements and notes. The report includes information on the city's finances, demographics, economic outlook, and operations. It is intended to provide citizens with information on the city's financial position and activities for 2011.
This document provides an overview of the key features and functionality of QuickBooks Enterprise Solutions 13.0. It describes the enhanced reporting, inventory management, productivity, and user control capabilities available in Enterprise Solutions. Specifically, it highlights improvements to reporting customization, inventory management, multi-user access, and industry-specific editions for contractors, manufacturers, nonprofits, and other sectors. The document is intended to demonstrate to potential customers how Enterprise Solutions can help businesses adapt to changing needs.
This document is Fannie Mae's Form 10-Q quarterly report filed with the SEC for the quarter ended September 30, 2008. It provides financial statements and notes for the quarter, as well as management's discussion and analysis of the company's financial condition and results of operations for the period. Key details include:
- Condensed consolidated balance sheets, statements of operations, cash flows, and changes in stockholders' equity for the quarter.
- Notes covering the company's accounting policies, loan portfolio, investments, debt, derivatives, taxes and other financial details.
- Discussion and analysis of the company's business segments, consolidated results of operations, critical accounting policies, balance sheet, liquidity, risk management and
This document provides an overview of trading on the National Stock Exchange (NSE) of India. It discusses the NEAT trading system, different market types, corporate hierarchy, market phases, logging on/off procedures, various inquiry screens for viewing market data and placing orders, order management processes like order entry, modification and cancellation, trade management, the auction market, and downloading trading information. It also describes functions like limited physical market, retail debt market, internet broking and contains sample questions.
Home BancShares reported first quarter 2009 net income of $6.2 million, or $0.28 per share, compared to $7.3 million, or $0.36 per share in first quarter 2008. Excluding a gain in 2008, earnings increased 78% year-over-year. Net interest income grew 4.7% to $21.8 million while net interest margin expanded. Non-interest income and expenses also increased. Loans grew 5.3% to $1.97 billion while deposits declined slightly to $1.84 billion and nonperforming assets rose. The company opened a new branch and is consolidating six banks under one charter as Centennial Bank.
Petsec Energy is an independent oil and gas exploration and production company with operations in the Gulf of Mexico and Louisiana, USA, and offshore China. In 2008, the company achieved record production levels and sales revenue despite a challenging market environment. Looking ahead, the company will focus on acquiring producing properties in the US Gulf of Mexico to leverage existing infrastructure and pursue a strategy of capital conservation given current low oil and gas prices.
This document is a Form 10-Q quarterly report filed by Chattem Inc. with the SEC for the quarter ended August 31, 2009. The report includes Chattem's consolidated financial statements and notes. It discusses financial results for the quarter including revenues of $115.2 million, net income of $23.4 million, and earnings per share of $1.23. The report also provides an analysis of Chattem's financial condition, results of operations, market risks, and controls and procedures.
This document is RPM International Inc.'s quarterly report filed with the SEC for the quarter ended August 31, 2009. It includes RPM's consolidated financial statements and notes. The financial statements show that for the quarter, RPM reported net sales of $915.9 million, net income of $73 million, and basic earnings per share of $0.57. The balance sheet indicates total assets of $3.4 billion as of August 31, 2009, including $255.8 million of cash and cash equivalents. The cash flow statement shows that for the quarter, RPM generated $52.1 million of cash from operating activities.
Whitney Holding Corporation reported a net loss of $11.1 million for the first quarter of 2009 compared to a profit of $8.2 million in the previous quarter. The loss was attributed to lower net interest income from margin compression, higher credit costs from rising delinquencies, and increased expenses. Total loans declined by $129 million from the previous quarter due to weak demand. However, the company's capital position remained strong with a tangible common equity ratio of 6.68% at the end of the first quarter.
- Philips reported an 11% decline in comparable sales for Q3 2009, driven by declines in Consumer Lifestyle and Lighting. EBITA margins improved due to cost reductions.
- Healthcare sales grew 1% in Q3, while Consumer Lifestyle and Lighting sales declined 20% and 11% respectively. Emerging markets sales declined 11% overall.
- Emerging markets now represent 35% of total sales, with double-digit growth in Healthcare emerging markets partially offsetting declines in mature markets. Philips continues investing and expanding in emerging markets to drive future growth.
Qwest Communications International Inc. reported financial results for the quarter ended March 31, 2008. Total operating revenue for Qwest was $3.4 billion for the quarter. Net income was $157 million, with basic earnings per share of $0.09. Total assets as of March 31, 2008 were $21.9 billion, with current assets of $3.2 billion. Cash provided by operating activities for the quarter was $388 million.
This document provides financial and operating reports for TXU Corp. and subsidiaries for the first quarter of 2001 and full year 2000. It includes statements of consolidated income, operating revenues and expenses, net income, earnings per share, and statements of consolidated cash flows. Some key details are revenues for the first quarter of 2001 were $8.4 billion, a 75% increase from the same period in 2000. Net income for the full year 2000 was $907 million, an 9% decrease from 1999. Cash provided by operating activities for 2000 was $2.5 billion.
fannie mae 2007 Year-End Earnings/Annual Reportfinance6
This document is Fannie Mae's annual report on Form 10-K for the fiscal year ended December 31, 2007 filed with the United States Securities and Exchange Commission. It summarizes Fannie Mae's business operations, financial results, risks, legal proceedings, and other required disclosures. Specifically, it provides an overview of Fannie Mae's mission and role in the housing and mortgage markets, describes its business segments and activities, reviews its financial results for 2007 including net income of $11.8 billion, and identifies various legal, regulatory and operational risks facing the company. The report was filed to comply with SEC reporting requirements for publicly traded companies.
This document summarizes research conducted on SME access to finance in the North East of England. Interviews and surveys were conducted with banks, business angels, and SMEs to understand challenges on both the demand and supply sides of SME financing. Key findings include a more cautious approach to lending from banks post-2008, information asymmetry problems in lending decisions, and insufficient high-quality investment opportunities for business angels in the region. Recommendations focus on improving guidance, support, and flow of opportunities to address financing constraints faced by SMEs.
This document is Fannie Mae's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2008. It includes Fannie Mae's unaudited condensed consolidated financial statements and notes, as well as management's discussion and analysis of financial condition and results of operations. Some key details include:
- Fannie Mae reported a net loss of $1.5 billion for the first quarter of 2008, compared to net income of $1.6 billion for the same period in 2007.
- Net interest income decreased by $0.4 billion compared to the first quarter of 2007, primarily due to higher debt funding costs and lower yields on mortgage loans and investments.
- Credit-
This document provides the table of contents for the Statements of Statutory Accounting Principles (SSAPs) - Volume I manual as of March 2010. It lists 100 SSAPs covering various accounting topics for areas such as assets, liabilities, income, expenses, and other financial statement items. It also includes excerpts of NAIC model laws and 26 interpretations of emerging accounting issues. The table of contents provides the SSAP number, title, and page number for each pronouncement as well as the number, title, and page for items in the appendices and interpretations.
This document is an industry agents' handbook that provides information and guidelines on various topics for travel agents. It includes sections on airline participants in the ARC settlement plan, ARC financial instruments like bonds and letters of credit required for agents, how to use the My ARC portal, ticketing procedures, and interactive agent reporting. The handbook outlines terms of use, data usage, contact resources, and provides tips for agents. It is a comprehensive reference for travel sellers on ARC programs, policies, and transaction processing.
This document provides a year-end tax guide for 2011, outlining key tax law changes and opportunities for individuals and businesses. Some highlights include:
- The individual income tax rates were extended through 2012. The alternative minimum tax exemption was increased for 2011 to help mitigate the impact.
- Payroll taxes were reduced for 2011 only. Medical expense deductions were tightened.
- Opportunities exist to maximize deductions, accelerate or defer income/losses, and make charitable donations of appreciated assets.
- Estate tax laws were changed, increasing the lifetime gift and estate tax exemption through 2012. Planning techniques like lifetime gifts can help take advantage.
This document is a financial supplement providing quarterly financial results for Genworth Financial, Inc. for 3Q 2008. It includes sections on net income, net operating income by business segment, balance sheets, investment portfolio details, and non-GAAP financial measures reconciliations. New metrics were added this quarter to provide more transparency into financial trends for the International and U.S. Mortgage Insurance segments.
This document is the annual report filed by Federal National Mortgage Association (Fannie Mae) with the United States Securities and Exchange Commission for the fiscal year ended December 31, 2004. It summarizes Fannie Mae's business operations, financial performance, accounting policies, legal proceedings, risk factors, and corporate leadership. Specifically, it discusses Fannie Mae's core business of securitizing mortgages in the secondary market, its four business segments, the competitive landscape, and its regulation as a government-sponsored enterprise. It also reports on Fannie Mae's financial restatement, investigations into accounting irregularities, and its internal controls and procedures.
This document provides condensed financial statements for Qwest Communications International Inc. as of June 30, 2008. It includes statements of operations, balance sheets, and cash flows. For the six months ended June 30, 2008, Qwest reported total operating revenues of $3,382 million and net income of $188 million. Total assets as of June 30, 2008 were $21,894 million, with total liabilities of $21,391 million resulting in total stockholders' equity of $503 million. For the six months ended June 30, 2008, cash provided by operating activities was $1,297 million and cash used for investing activities, primarily capital expenditures, was $950 million.
City of Chillicothe Comprehensive Annual Financial Report for 2011tomspetnagel
This document is the Comprehensive Annual Financial Report for the City of Chillicothe, Ohio for the year ended December 31, 2011. It was prepared by City Auditor Thomas M. Spetnagel Jr. and contains the city's audited financial statements and notes. The report includes information on the city's finances, demographics, economic outlook, and operations. It is intended to provide citizens with information on the city's financial position and activities for 2011.
This document provides an overview of the key features and functionality of QuickBooks Enterprise Solutions 13.0. It describes the enhanced reporting, inventory management, productivity, and user control capabilities available in Enterprise Solutions. Specifically, it highlights improvements to reporting customization, inventory management, multi-user access, and industry-specific editions for contractors, manufacturers, nonprofits, and other sectors. The document is intended to demonstrate to potential customers how Enterprise Solutions can help businesses adapt to changing needs.
This document is Fannie Mae's Form 10-Q quarterly report filed with the SEC for the quarter ended September 30, 2008. It provides financial statements and notes for the quarter, as well as management's discussion and analysis of the company's financial condition and results of operations for the period. Key details include:
- Condensed consolidated balance sheets, statements of operations, cash flows, and changes in stockholders' equity for the quarter.
- Notes covering the company's accounting policies, loan portfolio, investments, debt, derivatives, taxes and other financial details.
- Discussion and analysis of the company's business segments, consolidated results of operations, critical accounting policies, balance sheet, liquidity, risk management and
This document provides an overview of trading on the National Stock Exchange (NSE) of India. It discusses the NEAT trading system, different market types, corporate hierarchy, market phases, logging on/off procedures, various inquiry screens for viewing market data and placing orders, order management processes like order entry, modification and cancellation, trade management, the auction market, and downloading trading information. It also describes functions like limited physical market, retail debt market, internet broking and contains sample questions.
Home BancShares reported first quarter 2009 net income of $6.2 million, or $0.28 per share, compared to $7.3 million, or $0.36 per share in first quarter 2008. Excluding a gain in 2008, earnings increased 78% year-over-year. Net interest income grew 4.7% to $21.8 million while net interest margin expanded. Non-interest income and expenses also increased. Loans grew 5.3% to $1.97 billion while deposits declined slightly to $1.84 billion and nonperforming assets rose. The company opened a new branch and is consolidating six banks under one charter as Centennial Bank.
Petsec Energy is an independent oil and gas exploration and production company with operations in the Gulf of Mexico and Louisiana, USA, and offshore China. In 2008, the company achieved record production levels and sales revenue despite a challenging market environment. Looking ahead, the company will focus on acquiring producing properties in the US Gulf of Mexico to leverage existing infrastructure and pursue a strategy of capital conservation given current low oil and gas prices.
This document is a Form 10-Q quarterly report filed by Chattem Inc. with the SEC for the quarter ended August 31, 2009. The report includes Chattem's consolidated financial statements and notes. It discusses financial results for the quarter including revenues of $115.2 million, net income of $23.4 million, and earnings per share of $1.23. The report also provides an analysis of Chattem's financial condition, results of operations, market risks, and controls and procedures.
This document is RPM International Inc.'s quarterly report filed with the SEC for the quarter ended August 31, 2009. It includes RPM's consolidated financial statements and notes. The financial statements show that for the quarter, RPM reported net sales of $915.9 million, net income of $73 million, and basic earnings per share of $0.57. The balance sheet indicates total assets of $3.4 billion as of August 31, 2009, including $255.8 million of cash and cash equivalents. The cash flow statement shows that for the quarter, RPM generated $52.1 million of cash from operating activities.
Whitney Holding Corporation reported a net loss of $11.1 million for the first quarter of 2009 compared to a profit of $8.2 million in the previous quarter. The loss was attributed to lower net interest income from margin compression, higher credit costs from rising delinquencies, and increased expenses. Total loans declined by $129 million from the previous quarter due to weak demand. However, the company's capital position remained strong with a tangible common equity ratio of 6.68% at the end of the first quarter.
- Philips reported an 11% decline in comparable sales for Q3 2009, driven by declines in Consumer Lifestyle and Lighting. EBITA margins improved due to cost reductions.
- Healthcare sales grew 1% in Q3, while Consumer Lifestyle and Lighting sales declined 20% and 11% respectively. Emerging markets sales declined 11% overall.
- Emerging markets now represent 35% of total sales, with double-digit growth in Healthcare emerging markets partially offsetting declines in mature markets. Philips continues investing and expanding in emerging markets to drive future growth.
This document is a Form 10-Q quarterly report filed by HSBC Finance Corporation with the US Securities and Exchange Commission. It provides financial statements and disclosures for the quarter ended September 30, 2008. Specifically, it includes an unaudited consolidated statement of income, balance sheet, and cash flows. It shows a net loss of $271 million for the quarter due to a high provision for credit losses of $3.8 billion. Total assets were $131.5 billion as of September 30, 2008, with receivables, net making up 86% of total assets. The report provides additional details on financial results, credit quality, liquidity, and risk management.
This document is a Form 10-Q quarterly report filed by HSBC Finance Corporation with the US Securities and Exchange Commission. It provides financial statements and disclosures for the quarter ended September 30, 2008. Specifically, it includes an unaudited consolidated statement of income, balance sheet, cash flows, and notes to the financial statements. It discloses a net loss of $271 million for the quarter due to a $3.8 billion provision for credit losses, as well as a goodwill impairment charge of $71 million. Total assets were $131.5 billion as of September 30, 2008, with receivables, net making up 86% of total assets.
This document is an SEC Form 10-Q quarterly report filed by Xcel Energy Inc. for the quarter ended June 30, 2004. It includes Xcel Energy's consolidated financial statements and notes. The financial statements show operating revenues of $1.8 billion for the quarter and $4.1 billion for the six months. Net income was $86 million for the quarter and $236 million for the six months. Assets totaled $19.7 billion as of June 30, 2004, with current assets of $2 billion and property, plant and equipment of $13.9 billion.
This document is an SEC Form 10-Q quarterly report filed by Xcel Energy Inc. for the quarter ended June 30, 2004. It includes Xcel Energy's consolidated financial statements and notes. The financial statements show operating revenues of $1.8 billion for the quarter and $4.1 billion for the six months. Net income was $86 million for the quarter and $236 million for the six months. Assets totaled $19.7 billion as of June 30, 2004, with current assets of $2 billion and property, plant and equipment of $13.9 billion.
Xcel Energy Inc. filed a quarterly report with the SEC for the period ending March 31, 2001. The report includes consolidated statements of income and cash flows. For the quarter, Xcel Energy reported net income of $209 million on revenues of $4.2 billion. Operating income was $493 million. Cash provided by operating activities was $260 million, while cash used in investing activities was $1.7 billion, consisting largely of nonregulated capital expenditures and utility construction costs. Cash from financing activities was $1.6 billion, including proceeds from debt and equity issuances.
Xcel Energy Inc. filed a quarterly report with the SEC for the period ending March 31, 2001. The report includes consolidated statements of income and cash flows. For the quarter, Xcel Energy reported net income of $209 million on revenues of $4.2 billion. Operating income was $493 million. Cash provided by operating activities was $260 million, while cash used in investing activities was $1.7 billion, consisting largely of nonregulated capital expenditures and utility construction costs. Cash from financing activities was $1.6 billion, including proceeds from debt and equity issuances.
Danaher Corporation reported its fourth quarter and full year 2001 results. For the fourth quarter, net earnings excluding restructuring charges were $76.6 million compared to $87.8 million in 2000. Full year 2001 net earnings excluding restructuring charges were $341.2 million, a 5% increase over 2000. However, Danaher recorded a $69.7 million restructuring charge in the fourth quarter related to manufacturing facility consolidations. For the full year, net earnings including restructuring charges were $297.7 million. Despite difficult economic conditions, Danaher was able to grow earnings in 2001 through aggressive cost reductions and restructuring actions.
This document is an SEC filing by Xcel Energy Inc. for the quarterly period ending June 30, 2001. It includes Xcel Energy's consolidated statement of income for the three and six month periods ended June 30, 2001 and 2000. The filing shows that Xcel Energy reported operating income of $436.9 million and net income of $167.9 million for the quarter. For the six month period, Xcel Energy reported operating income of $930.2 million and net income of $377.2 million. The document provides detailed financial information on Xcel Energy's revenues, expenses, taxes and earnings for the periods in a standardized SEC filing format.
This document is an SEC Form 10-Q filing by Xcel Energy Inc. for the quarter ended June 30, 2001. It includes Xcel Energy's consolidated statements of income and cash flows for the quarter and year-to-date. The filing shows that for the quarter, Xcel Energy reported net income of $167.9 million and earnings per share of $0.49. For the six months ended June 30, 2001, Xcel Energy reported net income of $377.2 million and earnings per share of $1.10. The filing also provides details on Xcel Energy's revenues, expenses, assets, liabilities and cash flows for the periods reported.
This document is Berkshire Hathaway's interim shareholders report for the third quarter of 2004. It includes consolidated balance sheets, statements of earnings, and condensed statements of cash flows for the periods ended September 30, 2004 and 2003. The report provides key financial information on Berkshire's insurance, utilities, manufacturing, and services businesses. It summarizes revenues, costs, earnings, cash flows, and financial positions for the periods. The management discussion and analysis section provides additional context regarding Berkshire's financial condition and operating results.
This annual report summarizes the financial performance of Circuit City Stores, Inc. and its subsidiaries Circuit City and CarMax for the fiscal year 2000. Some key highlights include:
- Circuit City Stores saw net sales of $12.6 billion in 2000, up from $10.8 billion in 1999. Earnings from continuing operations were $327.8 million.
- The Circuit City Group, which includes Circuit City retail stores and CarMax, had net sales of $10.6 billion in 2000, up from $9.3 billion in 1999. Earnings from continuing operations before interest in CarMax were $326.7 million.
- CarMax operated 40 used car superstores and franchises
This annual report summarizes the financial performance of Circuit City Stores, Inc. and its subsidiaries Circuit City and CarMax for the fiscal year 2000. Some key highlights include:
- Circuit City Stores saw net sales of $10.8 billion in fiscal year 2000, up from $8.87 billion in 1999. Earnings from continuing operations were $211 million.
- The Circuit City Group, which includes Circuit City retail stores and CarMax, had net sales of $9.34 billion in 2000, up from $8 billion in 1999. Earnings from continuing operations before interest in CarMax were $235 million.
- CarMax operated 40 used car superstores and franchises in 2000, up
- SLM Corporation reported a net loss of $159 million for the quarter ended September 30, 2008 compared to net income of $266 million for the previous quarter and a net loss of $344 million for the same quarter last year.
- "Core earnings", which excludes certain one-time items, were $117 million for the quarter compared to $156 million for the previous quarter and $259 million for the same quarter last year.
- Total assets increased slightly to $165 billion from $164 billion at the end of the previous quarter.
- Qwest Communications International Inc. reported financial results for the second quarter and first half of 2008. Total operating revenue decreased 2.3% for the quarter and 1.9% for the first half compared to the same periods in 2007.
- Net income decreased 23.6% for the quarter and 29.0% for the first half versus the prior year. Earnings per share also declined for both periods compared to 2007.
- Several key operating metrics such as total access lines, consumer ARPU, and wholesale minutes of use declined compared to the second quarter of 2007.
This document contains condensed consolidated financial statements for Qwest Communications International Inc. as of September 30, 2008. It includes statements of operations, balance sheets, and cash flows for quarterly and annual periods between 2006 and 2008. The statements show that in 2007 Qwest reported a net income of $2.9 billion compared to $593 million in 2006, driven largely by a one-time $2.1 billion tax benefit recognized in the third quarter of 2007. Total operating revenues have remained relatively steady between $13-14 billion annually over this period.
The document provides condensed consolidated financial statements for Qwest Communications International Inc. as of June 30, 2007. It includes statements of operations, balance sheets, and cash flows. For the quarter ending June 30, 2007:
- Operating revenue was $3.463 billion and net income was $246 million.
- Total current assets were $3.087 billion including $869 million in cash and cash equivalents. Total assets were $20.389 billion.
- Total current liabilities were $4.350 billion including $1.304 billion in current portion of long-term debt. Total liabilities were $21.945 billion.
- Net cash provided by operating activities for the six months ending June 30,
- The document is Northern States Power Company's (NSP-Minnesota) quarterly report filed with the SEC for the quarter ended September 30, 2008.
- It provides financial statements including income statements, cash flow statements, and balance sheets for that quarter and year-to-date as well as notes to the financial statements.
- Key details include operating revenues of $1.1 billion for the quarter and $3.4 billion year-to-date, and net income of $110 million for the quarter and $223 million year-to-date.
This document is Northern States Power Company's (NSP-Minnesota) quarterly report filed with the SEC for the quarter ended September 30, 2008. It summarizes NSP-Minnesota's financial results including operating revenues of $1.1 billion, operating expenses of $884.8 million, net income of $110.3 million. Additionally, it discloses that NSP-Minnesota has 1,000,000 shares of common stock outstanding and meets the conditions to file a reduced disclosure Form 10-Q.
- Qwest Communications International Inc. reported financial results for the third quarter and first nine months of 2008. Total operating revenue declined 1.6% in the third quarter compared to the same period in 2007.
- Net income was $151 million in the third quarter of 2008 compared to $2.065 billion in the third quarter of 2007. The decline was largely due to a $2.149 billion income tax benefit in 2007.
- EBITDA (earnings before interest, taxes, depreciation and amortization) was $1.053 billion in the third quarter of 2008 compared to $798 million in the same period of 2007.
Genmo CorporationOn the night of February 27, 2012, certain recor.pdfsolimankellymattwe60
Genmo Corporation*
On the night of February 27, 2012, certain records of the Genmo Corporation were accidentally
destroyed by fire. Two days after that the principal owner had an appointment with an investor to
discuss the possible sale of the company. The owner needed as much information as could be
gathered for this purpose, recognizing that over a longer period of time a more complete
reconstruction would be possible.
On the morning of February 28, the following were available: (1) A balance sheet as of
December 31, 2010, and an income statement for 2010 (Exhibit 1) and (2) certain fragmentary
data and ratios that had been calculated from the current financial statements (Exhibit 2). The
statements themselves had been destroyed in the fire. (In ratios involving balance sheet amounts,
Genmo used yearend amounts rather than an average.) And (3) the following data (in thousands):
2011 revenues.............................................................. $10,281
Current liabilities, December 31, 2011 ......................... 2,285
EXHIBIT 1 Genmo Corporation Financial Statements
(thousands of dollars)
BALANCE SHEET
As of December 31, 2010
Assets
Current assets: Cash................................................................ $ 18
Marketable securities..................................... 494
Accounts receivable...................................... 728
Inventories...................................................... 972
Prepaid expenses........................................... 214
Total current assets..................................... 2,426
Investments……………………………………………. 898
Real estate, plant, and equipment........................... $4,727
Less: Accumulated depreciation..................... 2,433 2,294
Special tools............................................................. 171
Goodwill................................................................... 594
Total assets.............................................................. $6,383
Liabilities and Shareholders’ Equity
Current liabilities: Accounts payable............................................. $ 732
Loans payable.................................................. 266
Accrued liabilities.............................................. 1,232
Total current liabilities............................. 2,230
Long-term debt.......................................................... 250
Other noncurrent liabilities......................................... 951
Total liabilities............................................................ 3,431
Shareholders’ equity: Preferred stock................................................. 25
Common stock................................................. 54
Additional paid-in capital.................................. 667
Retained earnings............................................ 2,206
Total shareholders’ equity....................... 2,952
Total liabilities and shareholders’ equity.................... $6,383
Income Statement, 2010
Total revenu.
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.
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.
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%.
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.
Cleades Robinson, a respected leader in Philadelphia's police force, is known for his diplomatic and tactful approach, fostering a strong community rapport.
The E-Way Bill revolutionizes logistics by digitizing the documentation of goods transport, ensuring transparency, tax compliance, and streamlined processes. This mandatory, electronic system reduces delays, enhances accountability, and combats tax evasion, benefiting businesses and authorities alike. Embrace the E-Way Bill for efficient, reliable transportation operations.
UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
June 12, 2024 UnityNet International (#UNI) World Environment Day Abraham Project 2024 Press Release from Markham / Mississauga, Ontario in the, Greater Tkaronto Bioregion, Canada in the North American Great Lakes Watersheds of North America (Turtle Island).
World economy charts case study presented by a Big 4
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Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
ZKsync airdrop of 3.6 billion ZK tokens is scheduled by ZKsync for next week.pdfSOFTTECHHUB
The world of blockchain and decentralized technologies is about to witness a groundbreaking event. ZKsync, the pioneering Ethereum Layer 2 network, has announced the highly anticipated airdrop of its native token, ZK. This move marks a significant milestone in the protocol's journey, empowering the community to take the reins and shape the future of this revolutionary ecosystem.
4. Page 4 of 10
Adobe Reports Second Quarter Fiscal 2009 Results
Condensed Consolidated Statements of Income
(In thousands, except per share data; unaudited)
Three Months Ended Six Months Ended
May 29,
2009
May 30,
2008
May 29,
2009
May 30,
2008
Revenue:
Products ................................................................. $ 660,055 $ 841,301 $ 1,402,254 $ 1,693,263
Services and support.............................................. 44,618 45,585 88,809 84,068
Total revenue...................................................... 704,673 886,886 1,491,063 1,777,331
Total cost of revenue:
Products ................................................................. 55,758 58,229 114,676 118,034
Services and support.............................................. 16,250 24,637 34,685 47,307
Total cost of revenue .......................................... 72,008 82,866 149,361 165,341
Gross profit................................................................. 632,665 804,020 1,341,702 1,611,990
Operating expenses:
Research and development ................................... 138,470 170,300 288,387 338,785
Sales and marketing............................................... 243,209 279,365 492,700 541,960
General and administrative .................................... 70,818 77,078 144,869 160,007
Restructuring charges ............................................ 3,531 — 15,801 1,431
Amortization of purchased intangibles ................... 15,284 17,099 30,676 34,198
Total operating expenses ................................... 471,312 543,842 972,433 1,076,381
Operating income....................................................... 161,353 260,178 369,269 535,609
Non-operating income (expense):
Interest and other income, net................................ 4,802 12,150 18,086 25,440
Interest expense..................................................... (620) (3,828) (1,412) (5,637)
Investment gains (losses), net................................ (1,805) 9,506 (19,051) 18,238
Total non-operating income (expense), net........ 2,377 17,828 (2,377) 38,041
Income before income taxes...................................... 163,730 278,006 366,892 573,650
Provision for income taxes......................................... 37,659 63,096 84,386 139,361
Net income................................................................. $ 126,071 $ 214,910 $ 282,506 $ 434,289
Basic net income per share ....................................... $ 0.24 $ 0.40 $ 0.54 $ 0.79
Shares used in computing basic net income per
share .......................................................................... 524,159 533,391 527,324 547,996
Diluted net income per share..................................... $ 0.24 $ 0.40 $ 0.53 $ 0.78
Shares used in computing diluted net income per
share .......................................................................... 528,013 542,376 531,338 557,703
5. Page 5 of 10
Adobe Reports Second Quarter Fiscal 2009 Results
Condensed Consolidated Balance Sheets
(In thousands, except per share data; unaudited)
May 29, November 28,
2009 2008
ASSETS
Current assets:
Cash and cash equivalents............................................. $ 1,226,780 $ 886,450
Short-term investments................................................... 1,437,405 1,132,752
Trade receivables, net of allowances for doubtful
accounts of $6,474 and $4,128, respectively.............. 262,598 467,234
Deferred income taxes.................................................... 76,907 110,713
Prepaid expenses and other assets ............................... 84,079 137,954
Total current assets..................................................... 3,087,769 2,735,103
Property and equipment, net .............................................. 291,720 313,037
Goodwill.............................................................................. 2,134,997 2,134,730
Purchased and other intangibles, net................................. 148,507 214,960
Investment in lease receivable ........................................... 207,239 207,239
Other assets ....................................................................... 193,513 216,529
Total assets ................................................................. $ 6,063,745 $ 5,821,598
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Trade payables ............................................................... $ 42,258 $ 55,840
Accrued expenses .......................................................... 363,431 399,969
Accrued restructuring...................................................... 11,728 35,690
Income taxes payable..................................................... 11,024 27,136
Deferred revenue............................................................ 185,191 243,964
Total current liabilities.................................................. 613,632 762,599
Long-term liabilities:
Deferred revenue............................................................ 28,124 31,356
Debt................................................................................. 350,000 350,000
Income taxes payable..................................................... 137,240 123,182
Deferred income taxes.................................................... 104,490 117,328
Accrued restructuring...................................................... 6,559 6,214
Other liabilities ................................................................ 22,659 20,565
Total liabilities.............................................................. 1,262,704 1,411,244
Stockholders’ equity:
Preferred stock, $0.0001 par value; 2,000 shares
authorized....................................................................
— —
Common stock, $0.0001 par value................................. 61 61
Additional paid-in-capital................................................. 2,361,224 2,396,819
Retained earnings........................................................... 5,195,911 4,913,406
Accumulated other comprehensive income.................... 27,310 57,222
Treasury stock, at cost (76,304 and 74,723 shares,
respectively), net of reissuances................................ (2,783,465) (2,957,154)
Total stockholders’ equity............................................ 4,801,041 4,410,354
Total liabilities and stockholders’ equity...................... $ 6,063,745 $ 5,821,598
6. Page 6 of 10
Adobe Reports Second Quarter Fiscal 2009 Results
Condensed Consolidated Statements of Cash Flows
(In thousands; unaudited)
Three Months Ended
May 29,
2009
May 30,
2008
Cash flows from operating activities:
Net income................................................................................. $ 126,071 $ 214,910
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation, amortization and accretion................................... 64,725 68,656
Stock-based compensation expense, net of tax ........................ 40,959 48,387
Net investment losses................................................................ 714 914
Changes in deferred revenue .................................................... (11,971) 1,795
Changes in operating assets and liabilities................................ 41,031 (2,871)
Net cash provided by operating activities............................... 261,529 331,791
Cash flows from investing activities:
Purchases of short-term investments, net of sales and maturities (203,571) (27,100)
Purchases of property and equipment....................................... (10,312) (22,403)
Purchases of long-term investments and other assets, net of
sales ....................................................................................... (3,869) (19,599)
Net cash used for investing activities ..................................... (217,752) (69,102)
Cash flows from financing activities:
Purchases of treasury stock....................................................... — (150,161)
Reissuances of treasury stock................................................... 20,215 108,957
Repayment of borrowings under credit facility........................... — (100,000)
Excess tax benefits from stock-based compensation................ — 9,329
Net cash provided by (used for) financing activities............... 20,215 (131,875)
Effect of exchange rate changes on cash and cash equivalents .. 13,863 (1,094)
Net increase in cash and cash equivalents ................................... 77,855 129,720
Cash and cash equivalents at beginning of period........................ 1,148,925 1,032,733
Cash and cash equivalents at end of period ................................. $ 1,226,780 $ 1,162,453
7. Page 7 of 10
Adobe Reports Second Quarter Fiscal 2009 Results
Second Quarter Fiscal Year 2009 Non-GAAP Results
(In thousands, except per share data)
The following tables show Adobe’s non-GAAP results reconciled to GAAP results included in this release.
Three Months Ended
May 29,
2009
May 30,
2008
February 27,
2009
Operating income:
GAAP operating income...........................$ 161,353 $ 260,178 $ 207,916
Stock-based and deferred compensation
expense ................................................ 43,284 48,388 45,007
Restructuring charges.............................. 3,531 — 12,270
Amortization of purchased intangibles
and technology license arrangements.. 29,528 41,071 29,782
Non-GAAP operating income...................$ 237,696 $ 349,637 $ 294,975
Net income:
GAAP net income.....................................$ 126,071 $ 214,910 $ 156,435
Stock-based and deferred compensation
expense ................................................ 43,284 48,388 45,007
Restructuring charges.............................. 3,531 — 12,270
Amortization of purchased intangibles
and technology license arrangements.. 29,528 41,071 29,782
Investment loss (gain).............................. 1,805 (9,506) 17,246
Income tax adjustments ........................... (19,182) (22,125) (23,990)
Non-GAAP net income.............................$ 185,037 $ 272,738 $ 236,750
Diluted earnings per share:
GAAP diluted earnings per share ............$ 0.24 $ 0.40 $ 0.30
Stock-based and deferred compensation
expense ................................................ 0.08 0.09 0.09
Restructuring charges.............................. 0.01 — 0.02
Amortization of purchased intangibles
and technology license arrangements.. 0.06 0.08 0.06
Investment loss (gain).............................. — (0.02) 0.03
Income tax adjustments ........................... (0.04) (0.05) (0.05)
Non-GAAP diluted earnings per share.....$ 0.35 $ 0.50 $ 0.45
Shares used in computing diluted
earnings per share................................ 528,013 542,376 527,830
8. Page 8 of 10
Adobe Reports Second Quarter Fiscal 2009 Results
Three Months Ended
May 29,
2009
May 30,
2008
February 27,
2009
Operating expenses:
GAAP operating expenses..........................$ 471,312 $ 543,842 $ 501,121
Stock-based and deferred compensation
expense ................................................... (41,892) (47,200) (44,904)
Restructuring charges................................. (3,531) — (12,270)
Amortization of purchased intangibles........ (15,284) (17,099) (15,392)
Non-GAAP operating expenses..................$ 410,605 $ 479,543 $ 428,555
Three Months Ended
May 29,
2009
May 30,
2008
February 27,
2009
Operating margin:
GAAP operating margin .............................. 22.9% 29.3% 26.4%
Stock-based and deferred compensation
expense ................................................... 6.1 5.5 5.7
Restructuring charges................................. 0.5 — 1.6
Amortization of purchased intangibles and
technology license arrangements............ 4.2 4.6 3.8
Non-GAAP operating margin ...................... 33.7% 39.4% 37.5%
Effective income tax rate:
GAAP effective income tax rate .................. 23.0%
Stock-based and deferred compensation
expense....................................................... 0.3
Amortization of purchased intangibles........ 0.2
Non-GAAP effective income tax rate .......... 23.5%
9. Page 9 of 10
Adobe Reports Second Quarter Fiscal 2009 Results
Third Quarter Fiscal Year 2009 Non-GAAP Financial Targets
(In millions, except per share data)
The following tables show the Company’s third quarter fiscal year 2009 non-GAAP financial targets reconciled to
GAAP financial targets included in this release.
Third Quarter
Fiscal 2009
Low High
Operating margin:
GAAP operating margin ..................................................... 20.5% 25.5%
Stock-based and deferred compensation expense ........... 5.9 5.2
Restructuring charges........................................................ 0.1 0.1
Amortization of purchased intangibles ............................... 4.5 4.2
Non-GAAP operating margin ............................................. 31.0% 35.0%
Third Quarter
Fiscal 2009
Low High
Diluted earnings per share:
GAAP diluted earnings per share ...................................... $ 0.20 $ 0.27
Stock-based and deferred compensation expense ........... 0.07 0.07
Amortization of purchased intangibles ............................... 0.06 0.06
Income tax adjustments ..................................................... (0.03) (0.03)
Non-GAAP diluted earnings per share............................... $ 0.30 $ 0.37
Shares used in computing diluted earnings per share....... 531.0 529.0
Third
Quarter
Fiscal 2009
GAAP effective income tax rate ......................................... 22.5%
Stock-based and deferred compensation expense ........... 0.6
Amortization of purchased intangibles ............................... 0.4
Non-GAAP effective income tax rate ................................. 23.5%
Adobe continues to provide all information required in accordance with GAAP, but believes evaluating its ongoing
operating results may not be as useful if an investor is limited to reviewing only GAAP financial measures.
Accordingly, Adobe uses non-GAAP financial information to evaluate its ongoing operations and for internal
planning and forecasting purposes. Adobe’s management does not itself, nor does it suggest that investors
should, consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information
10. Page 10 of 10
Adobe Reports Second Quarter Fiscal 2009 Results
prepared in accordance with GAAP. Adobe presents such non-GAAP financial measures in reporting its financial
results to provide investors with an additional tool to evaluate Adobe’s operating results in a manner that focuses
on what Adobe believes to be its ongoing business operations. Adobe’s management believes it is useful for
itself and investors to review, as applicable, both GAAP information that includes the stock-based and deferred
compensation impact, restructuring charges, amortization of purchased intangibles and technology license
arrangements, investment gains and losses, and the related tax impact of all of these items, the income tax effect
of the non-GAAP pre-tax adjustments from the provision for income taxes, and the non-GAAP measures that
exclude such information in order to assess the performance of Adobe’s business and for planning and
forecasting in subsequent periods. Whenever Adobe uses such a non-GAAP financial measure, it provides a
reconciliation of the non-GAAP financial measure to the most closely applicable GAAP financial measure.
Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-
GAAP financial measures to their most directly comparable GAAP financial measure as detailed above.