BFH FY 2010 Earnings Report — Bread Financial Holdings, Inc. Revenue & Financial Results | Market Cap Arena

Bread Financial Holdings, Inc.BFH

FY 2010 Earnings

Reported February 28, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$2.8B	—	$2.0B	—	42.1%
Op. Income	$629M	—	$408M	—	54.3%
Gross Margin	33.2%	—	23.7%	—	9.5pp
Net Margin	6.9%	—	7.3%	—	-0.4pp
EPS (Diluted)	$3.48	—	$2.49	—	39.8%
Free Cash Flow	$834M	—	$305M	—	173.0%

Revenue Flow

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.9B
GROSS PROFIT	$928M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$86M
SG&A Expenses	$86M
Other Expenses	$213M
Operating Expenses	$298M
Cost & Expenses	$2.2B
OPERATING INCOME	$629M
Interest Income	$0
Interest Expense	$134M
Other Income/Expenses	-$318M
INCOME BEFORE TAX	$311M
Income Tax Expense	$115M
Net Income from Continuing Ops	$196M
Net Income from Discontinued Ops	-$2M
Other Adjustments	$0
NET INCOME	$194M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$194M
D&A	$143M
EBIT	$311M
EBITDA	$454M
EPS	$4
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.9B
GROSS PROFIT	$928M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$86M
SG&A Expenses	$86M
Other Expenses	$213M
Operating Expenses	$298M
Cost & Expenses	$2.2B
OPERATING INCOME	$629M
Interest Income	$0
Interest Expense	$134M
Other Income/Expenses	-$318M
INCOME BEFORE TAX	$311M
Income Tax Expense	$115M
Net Income from Continuing Ops	$196M
Net Income from Discontinued Ops	-$2M
Other Adjustments	$0
NET INCOME	$194M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$194M
D&A	$143M
EBIT	$311M
EBITDA	$454M
EPS	$4
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$194M
Depreciation & Amortization	$143M
Stock-Based Compensation	$50M
Deferred Income Tax	$19M
Other Non-Cash Items	$426M
Change in Working Capital	$71M
OPERATING CASH FLOW	$903M
Capital Expenditure	-$69M
Acquisitions (Net)	-$117M
Purchases of Investments	-$239M
Sales/Maturities of Investments	$52M
Other Investing Activities	$32M
NET CASH FROM INVESTING	-$341M
Net Debt Issuance	-$614M
Common Stock Repurchased	-$149M
Common Dividends Paid	$0
Other Financing Activities	$13M
NET CASH FROM FINANCING	-$716M
FREE CASH FLOW	$834M
Net Change in Cash	-$74M

Balance Sheet

Item	Amount
Cash & Equivalents	$139M
Short-Term Investments	$0
Net Receivables	$5.1B
Inventory	$0
Other Current Assets	$891M
TOTAL CURRENT ASSETS	$6.1B
PP&E (Net)	$171M
Goodwill	$1.2B
Intangible Assets	$314M
Long-Term Investments	$0
Tax Assets	$46M
Other Non-Current Assets	$390M
TOTAL NON-CURRENT ASSETS	$2.1B
TOTAL ASSETS	$8.3B
Account Payables	$122M
Short-Term Debt	$256M
Deferred Revenue	$1.0B
Other Current Liabilities	$2.3B
TOTAL CURRENT LIABILITIES	$3.9B
Long-Term Debt	$1.6B
Deferred Revenue NC	$177M
Deferred Tax Liabilities	$83M
Other Non-Current Liabilities	$2.5B
TOTAL NON-CURRENT LIABILITIES	$4.4B
TOTAL LIABILITIES	$8.2B
Common Stock	$928.0K
Additional Paid-In Capital	$1.3B
Retained Earnings	$816M
Treasury Stock	-$2.1B
Accum. Other Comp. Income	-$35M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$23M
Minority Interest	$0
TOTAL EQUITY	$23M
TOTAL LIABILITIES & EQUITY	$8.3B
Total Debt	$1.9B
Net Debt	$1.7B