BKU FY 2010 Earnings Report — BankUnited, Inc. Revenue & Financial Results | Market Cap Arena

BankUnited, Inc.BKU

FY 2010 Earnings

Reported March 31, 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	$792M	—	$557M	—	42.1%
Op. Income	$313M	—	$199M	—	56.7%
Gross Margin	72.3%	—	80.9%	—	-8.6pp
Net Margin	23.3%	—	21.4%	—	2.0pp
EPS (Diluted)	$1.91	—	$1.29	—	48.1%
Free Cash Flow	-$476M	—	-$358M	—	-32.8%

Revenue Flow

Item	Amount
REVENUE	$792M
Cost of Revenue	$220M
GROSS PROFIT	$572M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$133M
SG&A Expenses	$133M
Other Expenses	$127M
Operating Expenses	$260M
Cost & Expenses	$479M
OPERATING INCOME	$313M
Interest Income	$558M
Interest Expense	$168M
Other Income/Expenses	$0
INCOME BEFORE TAX	$313M
Income Tax Expense	$128M
Net Income from Continuing Ops	$185M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$185M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$185M
D&A	$3M
EBIT	$313M
EBITDA	$316M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$792M
Cost of Revenue	$220M
GROSS PROFIT	$572M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$133M
SG&A Expenses	$133M
Other Expenses	$127M
Operating Expenses	$260M
Cost & Expenses	$479M
OPERATING INCOME	$313M
Interest Income	$558M
Interest Expense	$168M
Other Income/Expenses	$0
INCOME BEFORE TAX	$313M
Income Tax Expense	$128M
Net Income from Continuing Ops	$185M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$185M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$185M
D&A	$3M
EBIT	$313M
EBITDA	$316M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$185M
Depreciation & Amortization	$3M
Stock-Based Compensation	$1M
Deferred Income Tax	$24M
Other Non-Cash Items	-$576M
Change in Working Capital	-$86M
OPERATING CASH FLOW	-$448M
Capital Expenditure	-$28M
Acquisitions (Net)	-$50M
Purchases of Investments	-$1.5B
Sales/Maturities of Investments	$914M
Other Investing Activities	$1.6B
NET CASH FROM INVESTING	$965M
Net Debt Issuance	$198M
Common Stock Repurchased	$0
Common Dividends Paid	-$20M
Other Financing Activities	-$489M
NET CASH FROM FINANCING	-$309M
FREE CASH FLOW	-$476M
Net Change in Cash	$209M

Balance Sheet

Item	Amount
Cash & Equivalents	$560M
Short-Term Investments	$0
Net Receivables	$11M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$571M
PP&E (Net)	$36M
Goodwill	$67M
Intangible Assets	$2M
Long-Term Investments	$6.8B
Tax Assets	$0
Other Non-Current Assets	$3.4B
TOTAL NON-CURRENT ASSETS	$10.3B
TOTAL ASSETS	$10.9B
Account Payables	$0
Short-Term Debt	$492.0K
Deferred Revenue	$0
Other Current Liabilities	$7.2B
TOTAL CURRENT LIABILITIES	$7.2B
Long-Term Debt	$2.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$5M
Other Non-Current Liabilities	$192M
TOTAL NON-CURRENT LIABILITIES	$2.5B
TOTAL LIABILITIES	$9.6B
Common Stock	$930.0K
Additional Paid-In Capital	$951M
Retained Earnings	$270M
Treasury Stock	$0
Accum. Other Comp. Income	$32M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$10.9B
Total Debt	$2.3B
Net Debt	$1.7B