Theragenics (FRA:THX) Operating Income : €0.80 Mil (TTM As of Jun. 2013)

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What is Theragenics Operating Income?

Theragenics's Operating Income for the three months ended in Jun. 2013 was €0.10 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2013 was €0.80 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Theragenics's Operating Income for the three months ended in Jun. 2013 was €0.10 Mil. Theragenics's Revenue for the three months ended in Jun. 2013 was €15.39 Mil. Therefore, Theragenics's Operating Margin % for the quarter that ended in Jun. 2013 was 0.64%.

Theragenics's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Theragenics's annualized ROC % for the quarter that ended in Jun. 2013 was -0.67%. Theragenics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2013 was 0.96%.

Theragenics Operating Income Historical Data

The historical data trend for Theragenics's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Theragenics Operating Income Chart

Theragenics Annual Data

Trend

Dec03

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Dec12

Operating Income

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-46.88

3.94

2.94

4.18

2.87

Theragenics Quarterly Data
	Sep08	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13
Operating Income	Get a 7-Day Free Trial															1.05	0.90	-0.22	0.01	0.10

Theragenics Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Jun. 2013 adds up the quarterly data reported by the company within the most recent 12 months, which was €0.80 Mil.

Theragenics (FRA:THX) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Theragenics's annualized ROC % for the quarter that ended in Jun. 2013 is calculated as:

	ROC % (Q: Jun. 2013 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2013 )	+	Invested Capital (Q: Jun. 2013 ))	/ count )
=	0.396 * ( 1 - 185.71% )	/	( (51.947	+	49.381)	/ 2 )
=	-0.3394116	/	50.664
=	-0.67 %

where

	Invested Capital		(Q: Mar. 2013 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	81.158	-	2.89	-	( 26.321	-	max(0, 3.673	-	47.879	+	26.321	))
=	51.947

	Invested Capital		(Q: Jun. 2013 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	80.934	-	3.377	-	( 28.176	-	max(0, 4.601	-	48.711	+	28.176	))
=	49.381

Note: The Operating Income data used here is four times the quarterly (Jun. 2013) data.

2. Joel Greenblatt's definition of Return on Capital:

Theragenics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2013 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2013 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2013		Q: Jun. 2013
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	0.396	/	( ( (24.585 + max(17.885, 0))	+	(24.093 + max(15.934, 0)) )	/	2 )
=	0.396	/	( ( 42.47	+	40.027 )	/	2 )
=	0.396	/	41.2485
=	0.96 %

where Working Capital is:

	Working Capital		(Q: Mar. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(7.924	+	12.034	+	1.6)	-	(2.89	+	0	+	0.783)
=	17.885

	Working Capital		(Q: Jun. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(7.795	+	11.342	+	1.398)	-	(3.377	+	0	+	1.224)
=	15.934

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2013) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Theragenics's Operating Margin % for the quarter that ended in Jun. 2013 is calculated as:

Operating Margin %	=	Operating Income (Q: Jun. 2013 )	/	Revenue (Q: Jun. 2013 )
	=	0.099	/	15.387
	=	0.64 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Theragenics Operating Income Related Terms

Thank you for viewing the detailed overview of Theragenics's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

Theragenics (FRA:THX) Business Description

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http://www.theragenics.com

Theragenics Corporation is a Delaware Corporation formed in 1981. It is a medical device company serving the surgical products and cancer treatment markets, operate in two business segments; the surgical products segment and the brachytherapy seed segment. The Company's surgical products business manufactures markets and sells disposable devices utilized in certain surgical procedures. Its brachytherapy seed business manufactures markets and sells radioactive 'seeds' utilized in the treatment of early stage prostate cancer. Its surgical products business was built through the acquisitions of CP Medical Corp. in May 2005, Galt Medical Corporation in August 2006, and NeedleTech Products, Inc. in July 2008. The Company manufactures almost 3,500 products in this business as part of three broad product platforms; wound closure, vascular access and specialty needles. It serves a number of markets and applications, including, among other areas, interventional cardiology, interventional radiology, vascular surgery, orthopedics, plastic surgery, dental surgery, urology, veterinary medicine, pain management, endoscopy, and spinal surgery. With the exception of veterinary sutures, its surgical products hold relatively small market shares. Its products include both finished goods and components. The Company's products are sold mainly to original equipment manufacturers and to a network of distributors. The Company's facilities and operations are subject to extensive environmental, nuclear, regulatory and occupational health and safety laws at the federal, state and local levels. It is also subject to similar foreign laws and regulations under certain circumstances when its products are distributed outside of the United States.

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