BANR FY 2014 Earnings Report — Banner Corporation Revenue & Financial Results | Market Cap Arena

Banner CorporationBANR

FY 2014 Earnings

Reported March 16, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$237M	—	$223M	—	6.3%
Op. Income	$81M	—	$70M	—	15.2%
Gross Margin	95.4%	—	94.2%	—	1.3pp
Net Margin	22.8%	—	20.7%	—	2.1pp
EPS (Diluted)	$2.79	—	$2.38	—	17.2%
Free Cash Flow	$92M	—	$87M	—	5.7%

Revenue Flow

Item	Amount
REVENUE	$237M
Cost of Revenue	$11M
GROSS PROFIT	$226M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$92M
SG&A Expenses	$98M
Other Expenses	$46M
Operating Expenses	$145M
Cost & Expenses	$156M
OPERATING INCOME	$81M
Interest Income	$191M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$81M
Income Tax Expense	$27M
Net Income from Continuing Ops	$54M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$54M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$54M
D&A	$10M
EBIT	$81M
EBITDA	$91M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$237M
Cost of Revenue	$11M
GROSS PROFIT	$226M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$92M
SG&A Expenses	$98M
Other Expenses	$46M
Operating Expenses	$145M
Cost & Expenses	$156M
OPERATING INCOME	$81M
Interest Income	$191M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$81M
Income Tax Expense	$27M
Net Income from Continuing Ops	$54M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$54M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$54M
D&A	$10M
EBIT	$81M
EBITDA	$91M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$54M
Depreciation & Amortization	$10M
Stock-Based Compensation	$2M
Deferred Income Tax	$15M
Other Non-Cash Items	$16M
Change in Working Capital	$1M
OPERATING CASH FLOW	$98M
Capital Expenditure	-$6M
Acquisitions (Net)	$128M
Purchases of Investments	-$98M
Sales/Maturities of Investments	$128M
Other Investing Activities	-$316M
NET CASH FROM INVESTING	-$164M
Net Debt Issuance	-$879.0K
Common Stock Repurchased	$0
Common Dividends Paid	-$13M
Other Financing Activities	$69M
NET CASH FROM FINANCING	$55M
FREE CASH FLOW	$92M
Net Change in Cash	-$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$126M
Short-Term Investments	$411M
Net Receivables	$15M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$552M
PP&E (Net)	$91M
Goodwill	$0
Intangible Assets	$3M
Long-Term Investments	$3.9B
Tax Assets	$24M
Other Non-Current Assets	$164M
TOTAL NON-CURRENT ASSETS	$4.2B
TOTAL ASSETS	$4.7B
Account Payables	$0
Short-Term Debt	$77M
Deferred Revenue	$0
Other Current Liabilities	$3.9B
TOTAL CURRENT LIABILITIES	$4.0B
Long-Term Debt	$110M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$17M
TOTAL NON-CURRENT LIABILITIES	$127M
TOTAL LIABILITIES	$4.1B
Common Stock	$569M
Additional Paid-In Capital	$0
Retained Earnings	$14M
Treasury Stock	$0
Accum. Other Comp. Income	-$258.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$583M
Minority Interest	$0
TOTAL EQUITY	$583M
TOTAL LIABILITIES & EQUITY	$4.7B
Total Debt	$187M
Net Debt	$61M