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WAL-MART STORES, INC.
|FOR IMMEDIATE RELEASE||Investor Relations Contacts|
|Media Relations Contact|| |
Carol Schumacher 479-277-1498
Mike Beckstead 479-277-9558
|John Simley 800-331-0085|
|Pre-recorded Conference Call|
Wal-Mart Reports Financial Results for Fiscal Year and Fourth Quarter
Q4 Reported EPS was $0.96, Exceeding Recent Guidance
Underlying EPS was $1.03, Exceeding First Call Consensus Estimate
FY09 Reported EPS was $3.35; Underlying EPS was $3.42
Record Full-Year Free Cash Flow of $11.6 Billion
BENTONVILLE, Ark., Feb. 17, 2009 Wal-Mart Stores, Inc. (NYSE: WMT) today reported sales and earnings for the quarter and the year ended Jan. 31, 2009. Net sales for the fourth quarter of fiscal year 2009 were $107.996 billion, an increase of 1.7 percent from $106.208 billion in the fourth quarter last year. Income from continuing operations for the quarter was $3.792 billion, a decrease of 7.7 percent from $4.110 billion in the fourth quarter last year. Without a litigation settlement charge and the effect of unfavorable currency exchange rates, income from continuing operations would have been positive on a comparable basis.
Reported diluted earnings per share from continuing operations (reported EPS) for the fourth quarter of fiscal year 2009 were $0.96, exceeding the companys most recent guidance of $0.91 to $0.94. The underlying diluted earnings per share from continuing operations (underlying EPS) were $1.03. Underlying EPS represents reported EPS in accordance with GAAP, adjusted for charges from the settlement of 63 U.S. class action wage and hour lawsuits (the litigation charge) of approximately $255 million on an after-tax basis for the fourth quarter. A reconciliation of reported and underlying EPS (a non-GAAP measure) for the full year and fourth quarter is provided in a schedule at the end of this release.
Last year, Wal-Mart earned $1.03 per share from continuing operations in the fourth quarter, which included a net charge of approximately $0.02 per share for real estate transactions and certain restructuring of its Japanese operations.
Net sales for the fiscal year were $401.244 billion, an increase of 7.2 percent over fiscal year 2008. Income from continuing operations increased 3.0 percent to $13.254 billion, up from $12.863 billion in the prior year. Reported EPS for fiscal year 2009 was $3.35, up 6.0 percent from $3.16 in the prior year. Underlying EPS was $3.42, excluding the litigation charge.
Wal-Mart recorded the strongest sales result in its history in the fourth quarter, with $108 billion in sales, said Mike Duke, Wal-Mart Stores, Inc. president and chief executive officer. We achieved this through the hard work of our associates, helping our customers save money so they can live better.
Our performance relative to competitors was exceptionally strong in the fourth quarter and throughout the year. We expect this momentum to continue, Duke said. We finished the year with a strong balance sheet, record free cash flow of $11.6 billion and great inventory management. Our company created approximately 63,000 jobs worldwide this year, including more than 33,000 in the United States. In addition, Wal-Mart remains
The following information was filed by Walmart Inc. (WMT) on Tuesday, February 17, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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