BANR FY 2017 Earnings Report — Banner Corporation Revenue & Financial Results | Market Cap Arena

Banner CorporationBANR

FY 2017 Earnings

Reported February 23, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$488M	—	$472M	—	3.4%
Op. Income	$151M	—	$130M	—	16.7%
Gross Margin	94.4%	—	95.2%	—	-0.8pp
Net Margin	12.4%	—	18.1%	—	-5.6pp
EPS (Diluted)	$1.84	—	$2.52	—	-27.0%
Free Cash Flow	$334M	—	-$92M	—	463.3%

Revenue Flow

Item	Amount
REVENUE	$488M
Cost of Revenue	$27M
GROSS PROFIT	$461M
R&D Expenses	$0
Selling & Marketing	$9M
General & Administrative	$197M
SG&A Expenses	$205M
Other Expenses	$104M
Operating Expenses	$310M
Cost & Expenses	$337M
OPERATING INCOME	$151M
Interest Income	$412M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$151M
Income Tax Expense	$90M
Net Income from Continuing Ops	$61M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$61M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$61M
D&A	$21M
EBIT	$151M
EBITDA	$172M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$488M
Cost of Revenue	$27M
GROSS PROFIT	$461M
R&D Expenses	$0
Selling & Marketing	$9M
General & Administrative	$197M
SG&A Expenses	$205M
Other Expenses	$104M
Operating Expenses	$310M
Cost & Expenses	$337M
OPERATING INCOME	$151M
Interest Income	$412M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$151M
Income Tax Expense	$90M
Net Income from Continuing Ops	$61M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$61M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$61M
D&A	$21M
EBIT	$151M
EBITDA	$172M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$61M
Depreciation & Amortization	$21M
Stock-Based Compensation	$6M
Deferred Income Tax	$53M
Other Non-Cash Items	$202M
Change in Working Capital	$4M
OPERATING CASH FLOW	$347M
Capital Expenditure	-$12M
Acquisitions (Net)	$113M
Purchases of Investments	-$845M
Sales/Maturities of Investments	$721M
Other Investing Activities	-$371M
NET CASH FROM INVESTING	-$393M
Net Debt Issuance	-$64M
Common Stock Repurchased	-$31M
Common Dividends Paid	-$66M
Other Financing Activities	$221M
NET CASH FROM FINANCING	$60M
FREE CASH FLOW	$334M
Net Change in Cash	$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$261M
Short-Term Investments	$919M
Net Receivables	$31M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$155M
Goodwill	$243M
Intangible Assets	$23M
Long-Term Investments	$7.8B
Tax Assets	$71M
Other Non-Current Assets	$249M
TOTAL NON-CURRENT ASSETS	$8.6B
TOTAL ASSETS	$9.8B
Account Payables	$0
Short-Term Debt	$96M
Deferred Revenue	$0
Other Current Liabilities	$8.2B
TOTAL CURRENT LIABILITIES	$8.4B
Long-Term Debt	$99M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$41M
TOTAL NON-CURRENT LIABILITIES	$140M
TOTAL LIABILITIES	$8.5B
Common Stock	$1.2B
Additional Paid-In Capital	$0
Retained Earnings	$91M
Treasury Stock	$0
Accum. Other Comp. Income	-$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$9.8B
Total Debt	$195M
Net Debt	-$66M