BKU FY 2011 Earnings Report — BankUnited, Inc. Revenue & Financial Results | Market Cap Arena

BankUnited, Inc.BKU

FY 2011 Earnings

Reported February 28, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$665M	—	$792M	—	-16.0%
Op. Income	$193M	—	$313M	—	-38.3%
Gross Margin	77.0%	—	72.3%	—	4.8pp
Net Margin	9.5%	—	23.3%	—	-13.8pp
EPS (Diluted)	$0.62	—	$1.91	—	-67.5%
Free Cash Flow	-$291M	—	-$476M	—	38.8%

Revenue Flow

Item	Amount
REVENUE	$665M
Cost of Revenue	$153M
GROSS PROFIT	$513M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$170M
SG&A Expenses	$170M
Other Expenses	$150M
Operating Expenses	$320M
Cost & Expenses	$473M
OPERATING INCOME	$193M
Interest Income	$638M
Interest Expense	$139M
Other Income/Expenses	$0
INCOME BEFORE TAX	$193M
Income Tax Expense	$130M
Net Income from Continuing Ops	$63M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$63M
Net Income Deductions	$3M
BOTTOM LINE NET INCOME	$60M
D&A	$8M
EBIT	$193M
EBITDA	$201M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$665M
Cost of Revenue	$153M
GROSS PROFIT	$513M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$170M
SG&A Expenses	$170M
Other Expenses	$150M
Operating Expenses	$320M
Cost & Expenses	$473M
OPERATING INCOME	$193M
Interest Income	$638M
Interest Expense	$139M
Other Income/Expenses	$0
INCOME BEFORE TAX	$193M
Income Tax Expense	$130M
Net Income from Continuing Ops	$63M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$63M
Net Income Deductions	$3M
BOTTOM LINE NET INCOME	$60M
D&A	$8M
EBIT	$193M
EBITDA	$201M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$63M
Depreciation & Amortization	$8M
Stock-Based Compensation	$145M
Deferred Income Tax	-$15M
Other Non-Cash Items	-$506M
Change in Working Capital	$57M
OPERATING CASH FLOW	-$249M
Capital Expenditure	-$43M
Acquisitions (Net)	$0
Purchases of Investments	-$2.1B
Sales/Maturities of Investments	$897M
Other Investing Activities	$984M
NET CASH FROM INVESTING	-$236M
Net Debt Issuance	-$25M
Common Stock Repurchased	$0
Common Dividends Paid	-$56M
Other Financing Activities	$206M
NET CASH FROM FINANCING	$223M
FREE CASH FLOW	-$291M
Net Change in Cash	-$261M

Balance Sheet

Item	Amount
Cash & Equivalents	$301M
Short-Term Investments	$4.2B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.5B
PP&E (Net)	$71M
Goodwill	$67M
Intangible Assets	$1M
Long-Term Investments	$4.2B
Tax Assets	$19M
Other Non-Current Assets	$2.4B
TOTAL NON-CURRENT ASSETS	$6.8B
TOTAL ASSETS	$11.3B
Account Payables	$0
Short-Term Debt	$206.0K
Deferred Revenue	$0
Other Current Liabilities	$7.4B
TOTAL CURRENT LIABILITIES	$7.4B
Long-Term Debt	$2.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$186M
TOTAL NON-CURRENT LIABILITIES	$2.4B
TOTAL LIABILITIES	$9.8B
Common Stock	$977.0K
Additional Paid-In Capital	$1.2B
Retained Earnings	$276M
Treasury Stock	$0
Accum. Other Comp. Income	$18M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$11.3B
Total Debt	$2.2B
Net Debt	$1.9B