BANR FY 2016 Earnings Report — Banner Corporation Revenue & Financial Results | Market Cap Arena

Banner CorporationBANR

FY 2016 Earnings

Reported February 27, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$472M	—	$315M	—	50.1%
Op. Income	$130M	—	$68M	—	90.7%
Gross Margin	95.2%	—	96.1%	—	-0.9pp
Net Margin	18.1%	—	14.4%	—	3.7pp
EPS (Diluted)	$2.52	—	$1.89	—	33.3%
Free Cash Flow	-$92M	—	$4M	—	-2320.9%

Revenue Flow

Item	Amount
REVENUE	$472M
Cost of Revenue	$22M
GROSS PROFIT	$450M
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$185M
SG&A Expenses	$195M
Other Expenses	$125M
Operating Expenses	$320M
Cost & Expenses	$343M
OPERATING INCOME	$130M
Interest Income	$391M
Interest Expense	$16M
Other Income/Expenses	$0
INCOME BEFORE TAX	$130M
Income Tax Expense	$44M
Net Income from Continuing Ops	$85M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$85M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$85M
D&A	$21M
EBIT	$130M
EBITDA	$150M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$472M
Cost of Revenue	$22M
GROSS PROFIT	$450M
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$185M
SG&A Expenses	$195M
Other Expenses	$125M
Operating Expenses	$320M
Cost & Expenses	$343M
OPERATING INCOME	$130M
Interest Income	$391M
Interest Expense	$16M
Other Income/Expenses	$0
INCOME BEFORE TAX	$130M
Income Tax Expense	$44M
Net Income from Continuing Ops	$85M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$85M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$85M
D&A	$21M
EBIT	$130M
EBITDA	$150M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$85M
Depreciation & Amortization	$21M
Stock-Based Compensation	$4M
Deferred Income Tax	$6M
Other Non-Cash Items	-$195M
Change in Working Capital	$3M
OPERATING CASH FLOW	-$76M
Capital Expenditure	-$16M
Acquisitions (Net)	$0
Purchases of Investments	-$303M
Sales/Maturities of Investments	$572M
Other Investing Activities	-$106M
NET CASH FROM INVESTING	$146M
Net Debt Issuance	-$71M
Common Stock Repurchased	-$51M
Common Dividends Paid	-$28M
Other Financing Activities	$65M
NET CASH FROM FINANCING	-$85M
FREE CASH FLOW	-$92M
Net Change in Cash	-$14M

Balance Sheet

Item	Amount
Cash & Equivalents	$248M
Short-Term Investments	$806M
Net Receivables	$30M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$166M
Goodwill	$245M
Intangible Assets	$30M
Long-Term Investments	$7.9B
Tax Assets	$128M
Other Non-Current Assets	$261M
TOTAL NON-CURRENT ASSETS	$8.7B
TOTAL ASSETS	$9.8B
Account Payables	$0
Short-Term Debt	$106M
Deferred Revenue	$0
Other Current Liabilities	$8.1B
TOTAL CURRENT LIABILITIES	$8.3B
Long-Term Debt	$149M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$40M
TOTAL NON-CURRENT LIABILITIES	$189M
TOTAL LIABILITIES	$8.5B
Common Stock	$1.2B
Additional Paid-In Capital	$0
Retained Earnings	$95M
Treasury Stock	$0
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$9.8B
Total Debt	$255M
Net Debt	$7M