BMO FY 2009 Earnings Report — Bank of Montreal Revenue & Financial Results | Market Cap Arena

Bank of MontrealBMO

FY 2009 Earnings

Reported December 14, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$11.7B	—	$14.5B	—	-19.1%
Op. Income	$1.5B	—	$1.4B	—	5.0%
Gross Margin	58.9%	—	44.7%	—	14.2pp
Net Margin	11.1%	—	10.0%	—	1.2pp
EPS (Diluted)	$2.25	—	$2.75	—	-18.1%
Free Cash Flow	$9.1B	—	$2.8B	—	226.9%

Revenue Flow

Item	Amount
REVENUE	$11.7B
Cost of Revenue	$4.8B
GROSS PROFIT	$6.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$3.1B
SG&A Expenses	$3.1B
Other Expenses	$2.3B
Operating Expenses	$5.4B
Cost & Expenses	$10.2B
OPERATING INCOME	$1.5B
Interest Income	$7.7B
Interest Expense	$3.7B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$159M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$345M
EBIT	$1.5B
EBITDA	$1.9B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$11.7B
Cost of Revenue	$4.8B
GROSS PROFIT	$6.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$3.1B
SG&A Expenses	$3.1B
Other Expenses	$2.3B
Operating Expenses	$5.4B
Cost & Expenses	$10.2B
OPERATING INCOME	$1.5B
Interest Income	$7.7B
Interest Expense	$3.7B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$159M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$345M
EBIT	$1.5B
EBITDA	$1.9B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.3B
Depreciation & Amortization	$345M
Stock-Based Compensation	$0
Deferred Income Tax	$136M
Other Non-Cash Items	$775M
Change in Working Capital	$6.8B
OPERATING CASH FLOW	$9.3B
Capital Expenditure	-$278M
Acquisitions (Net)	-$240M
Purchases of Investments	-$30.0B
Sales/Maturities of Investments	$21.7B
Other Investing Activities	$878M
NET CASH FROM INVESTING	-$7.8B
Net Debt Issuance	-$102M
Common Stock Repurchased	$0
Common Dividends Paid	-$959M
Other Financing Activities	-$200M
NET CASH FROM FINANCING	-$46M
FREE CASH FLOW	$9.1B
Net Change in Cash	$600M

Balance Sheet

Item	Amount
Cash & Equivalents	$9.7B
Short-Term Investments	$36.7B
Net Receivables	$5.3B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$51.7B
PP&E (Net)	$1.2B
Goodwill	$1.1B
Intangible Assets	$482M
Long-Term Investments	$153.2B
Tax Assets	$0
Other Non-Current Assets	$76.2B
TOTAL NON-CURRENT ASSETS	$232.1B
TOTAL ASSETS	$283.9B
Account Payables	$5.1B
Short-Term Debt	$33.8B
Deferred Revenue	$0
Other Current Liabilities	$181.4B
TOTAL CURRENT LIABILITIES	$220.3B
Long-Term Debt	$3.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$45.7B
TOTAL NON-CURRENT LIABILITIES	$48.8B
TOTAL LIABILITIES	$269.1B
Common Stock	$4.5B
Additional Paid-In Capital	$58M
Retained Earnings	$8.6B
Treasury Stock	$0
Accum. Other Comp. Income	-$292M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$14.8B
Minority Interest	$0
TOTAL EQUITY	$14.8B
TOTAL LIABILITIES & EQUITY	$283.9B
Total Debt	$36.9B
Net Debt	$27.2B