BUSINESS HIGH SCHOOL

Mydeco Corp. 2009–2013 (All data as of fiscal year end; in $ million)
(All data as of fiscal year end; in $ million)
(All data as of fiscal year end; in $ million)
(All data as of fiscal year end; in $ million)
(All data as of fiscal year end; in $ million)

Income Statement

2009

2010

2011

2012

2013

Revenue

404.3

363.8

424.6

510.7
See Table 2.5 showing financial statement data and stock price data for Mydeco Corp. Suppose My-deco’s costs and expenses had been the same fraction of revenues in 2010–2013 as they were in 2009. What would My-deco’s EPS have been each year in this case?
Table 2.5

Mydeco Corp. 2009–2013

(All data as of fiscal year end; in $ million)
(All data as of fiscal year end; in $ million)
(All data as of fiscal year end; in $ million)
(All data as of fiscal year end; in $ million)
(All data as of fiscal year end; in $ million)

Income Statement

2009

2010

2011

2012

2013

Revenue

404.3

363.8

424.6

510.7

604.1

Cost of Goods Sold

(188.3)

(173.8)

(206.2)

(246.8)

(293.4)

Gross Profit

216.0

190.0

218.4

263.9

310.7

Sales and Marketing

(66.7)

(66.4)

(82.8)

(102.1)

(120.8)

Administration

(60.6)

(59.1)

(59.4)

(66.4)

(78.5)

Depreciation & Amortization

(27.3)

(27.0)

(34.3)

(38.4)

(38.6)

EBIT

61.4

37.5

41.9

57.0

72.8

Interest Income (Expense)

(33.7)

(32.9)

(32.2)

(37.4)

(39.4)

Pretax Income

27.7

4.6

9.7

19.6

33.4

Income Tax

(9.7)

(1.6)

(3.4)

(6.9)

(11.7)

Net Income

18.0

3.0

6.3

12.7

21.7

Shares outstanding (millions)

55.0

55.0

55.0

55.0

55.0

Earnings per share

$0.33

$0.05

$0.11

$0.23

$0.39

Balance Sheet

2009

2010

2011

2012

2013

Assets





Cash

48.8

68.9

86.3

77.5

85

Accounts Receivable

88.6

69.8

69.8

76.9

86.1

Inventory

33.7

30.9

28.4

31.7

35.3

Total Current Assets

171.1

169.6

184.5

186.1

206.4

Net Property, Plant & Equip.

245.3

243.3

309

345.6

347

Goodwill & Intangibles

361.7

361.7

361.7

361.7

361.7

Total Assets

778.1

774.6

855.2

893.4

915.1

Liabilities & Stockholders’ Equity





Accounts Payable

18.7

17.9

22

26.8

31.7

Accrued Compensation

6.7

6.4

7

8.1

9.7

Total Current Liabilities

25.4

24.3

29

34.9

41.4

Long-term Debt

500

500

575

600

600

Total Liabilities

525.4

524.3

604

634.9

641.4

Stockholders’ Equity

252.7

250.3

251.2

258.5

273.7

Total Liabilities & Stockholders’ Equity

778.1

774.6

855.2

893.4

915.1

Statement of Cash Flows

2009

2010

2011

2012

2013

Net Income

18

3

6.3

12.7

21.7

Depreciation & Amortization

27.3

27

34.3

38.4

38.6

Chg. in Accounts Receivable

3.9

18.8

0

-7.1

-9.2

Chg. in Inventory

-2.9

2.8

2.5

-3.3

-3.6

Chg. in Payables & Accrued Comp.

2.2

-1.1

4.7

5.9

6.5

Cash from Operations

48.5

50.5

47.8

46.6

54

Capital Expenditures

(25.0)

(25.0)

(100.0)

(75.0)

(40.0)

Cash from Investing Activities

(25.0)

(25.0)

(100.0)

(75.0)

(40.0)

Dividends Paid

(5.4)

(5.4)

(5.4)

(5.4)

(6.5)

Sale (or purchase) of stock

-

-

-

-

-

Debt Issuance (Pay Down)

-

-

75.0

25.0

-

Cash from Financing Activities

(5.4)

(5.4)

69.6

19.6

(6.5)

Change in Cash

18.1

20.1

17.4

(8.8)

7.5

Mydeco Stock Price

$7.92

$3.30

$5.25

$8.71

Answers

Answer 1
Answer: the answer is 2009 alright.

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