MEAD JOHNSON NUTRITI (MJN, Financial) filed Quarterly Report for the period ended 2010-03-31.
Mead Johnson Nutriti has a market cap of $10.31 billion; its shares were traded at around $50.42 with a P/E ratio of 22.8 and P/S ratio of 3.7. The dividend yield of Mead Johnson Nutriti stocks is 1.8%.MJN is in the portfolios of Paul Tudor Jones of The Tudor Group, Daniel Loeb of Third Point, LLC, Paul Tudor Jones of The Tudor Group, Lee Ainslie of Maverick Capital, Stanley Druckenmiller of Duquesne Capital Management, LLC, John Paulson of Paulson & Co., Edward Owens of Vanguard Health Care Fund, David Winters of Wintergreen Advisors, Steve Mandel of Lone Pine Capital, Chris Davis of Davis Selected Advisers, Louis Moore Bacon of Moore Capital Management, LP, Louis Moore Bacon of Moore Capital Management, LP, Louis Moore Bacon of Moore Capital Management, LP, Jean-Marie Eveillard of Arnhold & S. Bleichroeder Advisers, LLC, George Soros of Soros Fund Management LLC, Murray Stahl of Horizon Asset Management, RS Investment Management, Steven Cohen of SAC Capital Advisors, Jeremy Grantham of GMO LLC, Chuck Royce of Royce& Associates.
For the three months ended March 31, 2010, net earnings attributable to shareholders increased $22.1 million, or 21%, to $125.6 million compared to the three months ended March 31, 2009, due to continued revenue growth in our Asia/Latin America segment and a decrease in interest expense partially offset by increased investments in growth opportunities.
Our primary sources of liquidity are cash from operations and available borrowings under our $410.0 million Credit Facility. Cash flows from operating activities represent the inflow of cash from our customers and the outflow of cash for inventory purchases, manufacturing, operating expenses, interest and taxes. Cash flows used in investing activities primarily represent capital expenditures for equipment, buildings and computer software. For the three months ended March 31, 2009, cash flows from financing primarily represent activities related to the IPO and separation from BMS. For the three months ended March 31, 2010, cash flows from financing activities include repayments of short-term borrowings. On March 16, 2010, our board of directors declared a dividend of $0.225 per share for the quarter ending March 31, 2010. The dividend was paid on April 1, 2010, to shareholders of record on March 24, 2010. On January 15, 2010, we paid the cash dividend declared on December 18, 2009, to shareholders of record on December 31, 2009. There were no cash dividends paid during the three months ended March 31, 2009. On March 16, 2010, our board of directors authorized the repurchase of up to $300 million of the companys common stock. The repurchase program is primarily intended to offset the dilutive effect on earnings from equity based compensation over the next three to five years.
Cash flow used in financing activities was $178.0 million for the three months ended March 31, 2010, reflecting the repayment of $120.0 million short-term borrowing from the Credit Facility, $47.0 million payment for our Mexico capital lease termination and dividend payments. These uses were partially offset by the
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Mead Johnson Nutriti has a market cap of $10.31 billion; its shares were traded at around $50.42 with a P/E ratio of 22.8 and P/S ratio of 3.7. The dividend yield of Mead Johnson Nutriti stocks is 1.8%.MJN is in the portfolios of Paul Tudor Jones of The Tudor Group, Daniel Loeb of Third Point, LLC, Paul Tudor Jones of The Tudor Group, Lee Ainslie of Maverick Capital, Stanley Druckenmiller of Duquesne Capital Management, LLC, John Paulson of Paulson & Co., Edward Owens of Vanguard Health Care Fund, David Winters of Wintergreen Advisors, Steve Mandel of Lone Pine Capital, Chris Davis of Davis Selected Advisers, Louis Moore Bacon of Moore Capital Management, LP, Louis Moore Bacon of Moore Capital Management, LP, Louis Moore Bacon of Moore Capital Management, LP, Jean-Marie Eveillard of Arnhold & S. Bleichroeder Advisers, LLC, George Soros of Soros Fund Management LLC, Murray Stahl of Horizon Asset Management, RS Investment Management, Steven Cohen of SAC Capital Advisors, Jeremy Grantham of GMO LLC, Chuck Royce of Royce& Associates.
Highlight of Business Operations:
Interest expense for the three months ended March 31, 2010, primarily represented interest incurred on the three tranches of notes totaling $1.5 billion that were issued in a private placement in November 2009. For the three months ended March 31, 2009, interest expense primarily represented interest incurred on the $2.0 billion note payable to BMS issued in August 2008 and restructured into three senior unsecured notes of an aggregate principal amount of $1.7 billion on February 17, 2009. Our reduction in debt combined with lower interest rates on our refinanced debt and the benefit from fixed-to-floating interest rate swaps resulted in a decrease in interest expense of $15.9 million. The average interest rate on our long-term debt, including the impact of the swaps, was 3.5% for the three months ended March 31, 2010.For the three months ended March 31, 2010, net earnings attributable to shareholders increased $22.1 million, or 21%, to $125.6 million compared to the three months ended March 31, 2009, due to continued revenue growth in our Asia/Latin America segment and a decrease in interest expense partially offset by increased investments in growth opportunities.
Our primary sources of liquidity are cash from operations and available borrowings under our $410.0 million Credit Facility. Cash flows from operating activities represent the inflow of cash from our customers and the outflow of cash for inventory purchases, manufacturing, operating expenses, interest and taxes. Cash flows used in investing activities primarily represent capital expenditures for equipment, buildings and computer software. For the three months ended March 31, 2009, cash flows from financing primarily represent activities related to the IPO and separation from BMS. For the three months ended March 31, 2010, cash flows from financing activities include repayments of short-term borrowings. On March 16, 2010, our board of directors declared a dividend of $0.225 per share for the quarter ending March 31, 2010. The dividend was paid on April 1, 2010, to shareholders of record on March 24, 2010. On January 15, 2010, we paid the cash dividend declared on December 18, 2009, to shareholders of record on December 31, 2009. There were no cash dividends paid during the three months ended March 31, 2009. On March 16, 2010, our board of directors authorized the repurchase of up to $300 million of the companys common stock. The repurchase program is primarily intended to offset the dilutive effect on earnings from equity based compensation over the next three to five years.
Cash flow used in financing activities was $178.0 million for the three months ended March 31, 2010, reflecting the repayment of $120.0 million short-term borrowing from the Credit Facility, $47.0 million payment for our Mexico capital lease termination and dividend payments. These uses were partially offset by the
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