BANR FY 2012 Earnings Report — Banner Corporation Revenue & Financial Results | Market Cap Arena

Banner CorporationBANR

FY 2012 Earnings

Reported March 14, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$216M	—	$232M	—	-6.8%
Op. Income	$40M	—	$5M	—	634.8%
Gross Margin	84.9%	—	70.7%	—	14.3pp
Net Margin	30.1%	—	2.4%	—	27.7pp
EPS (Diluted)	$3.16	—	$-0.15	—	2206.7%
Free Cash Flow	$76M	—	$98M	—	-22.4%

Revenue Flow

Item	Amount
REVENUE	$216M
Cost of Revenue	$33M
GROSS PROFIT	$183M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$82M
SG&A Expenses	$90M
Other Expenses	$54M
Operating Expenses	$143M
Cost & Expenses	$176M
OPERATING INCOME	$40M
Interest Income	$187M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$40M
Income Tax Expense	-$25M
Net Income from Continuing Ops	$65M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$65M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$59M
D&A	$10M
EBIT	$40M
EBITDA	$50M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$216M
Cost of Revenue	$33M
GROSS PROFIT	$183M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$82M
SG&A Expenses	$90M
Other Expenses	$54M
Operating Expenses	$143M
Cost & Expenses	$176M
OPERATING INCOME	$40M
Interest Income	$187M
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$40M
Income Tax Expense	-$25M
Net Income from Continuing Ops	$65M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$65M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$59M
D&A	$10M
EBIT	$40M
EBITDA	$50M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$65M
Depreciation & Amortization	$10M
Stock-Based Compensation	$440.0K
Deferred Income Tax	-$34M
Other Non-Cash Items	$38M
Change in Working Capital	$2M
OPERATING CASH FLOW	$81M
Capital Expenditure	-$6M
Acquisitions (Net)	$0
Purchases of Investments	-$436M
Sales/Maturities of Investments	$415M
Other Investing Activities	$80M
NET CASH FROM INVESTING	$52M
Net Debt Issuance	-$76M
Common Stock Repurchased	-$122M
Common Dividends Paid	-$6M
Other Financing Activities	$82M
NET CASH FROM FINANCING	-$85M
FREE CASH FLOW	$76M
Net Change in Cash	$49M

Balance Sheet

Item	Amount
Cash & Equivalents	$181M
Short-Term Investments	$473M
Net Receivables	$14M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$668M
PP&E (Net)	$89M
Goodwill	$0
Intangible Assets	$14M
Long-Term Investments	$3.2B
Tax Assets	$35M
Other Non-Current Assets	$224M
TOTAL NON-CURRENT ASSETS	$3.6B
TOTAL ASSETS	$4.3B
Account Payables	$0
Short-Term Debt	$77M
Deferred Revenue	$0
Other Current Liabilities	$3.6B
TOTAL CURRENT LIABILITIES	$3.7B
Long-Term Debt	$83M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$14M
TOTAL NON-CURRENT LIABILITIES	$98M
TOTAL LIABILITIES	$3.8B
Common Stock	$568M
Additional Paid-In Capital	$0
Retained Earnings	-$61M
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	-$2M
TOTAL STOCKHOLDERS' EQUITY	$507M
Minority Interest	$0
TOTAL EQUITY	$507M
TOTAL LIABILITIES & EQUITY	$4.3B
Total Debt	$160M
Net Debt	-$21M