BANR FY 2018 Earnings Report — Banner Corporation Revenue & Financial Results | Market Cap Arena

Banner CorporationBANR

FY 2018 Earnings

Reported February 25, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$550M	—	$488M	—	12.7%
Op. Income	$165M	—	$151M	—	9.2%
Gross Margin	92.5%	—	94.4%	—	-1.9pp
Net Margin	24.8%	—	12.4%	—	12.4pp
EPS (Diluted)	$4.15	—	$1.84	—	125.5%
Free Cash Flow	$8M	—	$334M	—	-97.7%

Revenue Flow

Item	Amount
REVENUE	$550M
Cost of Revenue	$41M
GROSS PROFIT	$509M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$207M
SG&A Expenses	$215M
Other Expenses	$128M
Operating Expenses	$344M
Cost & Expenses	$385M
OPERATING INCOME	$165M
Interest Income	$464M
Interest Expense	$33M
Other Income/Expenses	$0
INCOME BEFORE TAX	$165M
Income Tax Expense	$29M
Net Income from Continuing Ops	$137M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$137M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$137M
D&A	$21M
EBIT	$165M
EBITDA	$186M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$550M
Cost of Revenue	$41M
GROSS PROFIT	$509M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$207M
SG&A Expenses	$215M
Other Expenses	$128M
Operating Expenses	$344M
Cost & Expenses	$385M
OPERATING INCOME	$165M
Interest Income	$464M
Interest Expense	$33M
Other Income/Expenses	$0
INCOME BEFORE TAX	$165M
Income Tax Expense	$29M
Net Income from Continuing Ops	$137M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$137M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$137M
D&A	$21M
EBIT	$165M
EBITDA	$186M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$137M
Depreciation & Amortization	$21M
Stock-Based Compensation	$7M
Deferred Income Tax	$440.0K
Other Non-Cash Items	-$135M
Change in Working Capital	$1M
OPERATING CASH FLOW	$31M
Capital Expenditure	-$23M
Acquisitions (Net)	-$2M
Purchases of Investments	-$924M
Sales/Maturities of Investments	$421M
Other Investing Activities	-$449M
NET CASH FROM INVESTING	-$976M
Net Debt Issuance	$548M
Common Stock Repurchased	-$34M
Common Dividends Paid	-$59M
Other Financing Activities	$502M
NET CASH FROM FINANCING	$956M
FREE CASH FLOW	$8M
Net Change in Cash	$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$272M
Short-Term Investments	$1.6B
Net Receivables	$39M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.9B
PP&E (Net)	$172M
Goodwill	$339M
Intangible Assets	$33M
Long-Term Investments	$9.0B
Tax Assets	$75M
Other Non-Current Assets	$312M
TOTAL NON-CURRENT ASSETS	$9.9B
TOTAL ASSETS	$11.9B
Account Payables	$0
Short-Term Debt	$119M
Deferred Revenue	$0
Other Current Liabilities	$9.5B
TOTAL CURRENT LIABILITIES	$9.7B
Long-Term Debt	$654M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$40M
TOTAL NON-CURRENT LIABILITIES	$695M
TOTAL LIABILITIES	$10.4B
Common Stock	$1.3B
Additional Paid-In Capital	$0
Retained Earnings	$134M
Treasury Stock	$0
Accum. Other Comp. Income	$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$11.9B
Total Debt	$773M
Net Debt	$501M