BMO FY 2010 Earnings Report — Bank of Montreal Revenue & Financial Results | Market Cap Arena

Bank of MontrealBMO

FY 2010 Earnings

Reported December 8, 2010

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	$11.3B	—	$11.7B	—	-3.8%
Op. Income	$2.6B	—	$1.5B	—	71.7%
Gross Margin	72.2%	—	58.9%	—	13.3pp
Net Margin	18.2%	—	11.1%	—	7.1pp
EPS (Diluted)	$3.47	—	$2.25	—	54.2%
Free Cash Flow	-$5.2B	—	$9.1B	—	-156.9%

Revenue Flow

Item	Amount
REVENUE	$11.3B
Cost of Revenue	$3.1B
GROSS PROFIT	$8.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$3.2B
SG&A Expenses	$3.2B
Other Expenses	$2.4B
Operating Expenses	$5.5B
Cost & Expenses	$8.7B
OPERATING INCOME	$2.6B
Interest Income	$6.9B
Interest Expense	$2.4B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.6B
Income Tax Expense	$502M
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.0B
D&A	$343M
EBIT	$2.6B
EBITDA	$3.0B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$11.3B
Cost of Revenue	$3.1B
GROSS PROFIT	$8.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$3.2B
SG&A Expenses	$3.2B
Other Expenses	$2.4B
Operating Expenses	$5.5B
Cost & Expenses	$8.7B
OPERATING INCOME	$2.6B
Interest Income	$6.9B
Interest Expense	$2.4B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.6B
Income Tax Expense	$502M
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.0B
D&A	$343M
EBIT	$2.6B
EBITDA	$3.0B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$2.1B
Depreciation & Amortization	$343M
Stock-Based Compensation	$0
Deferred Income Tax	-$45M
Other Non-Cash Items	$337M
Change in Working Capital	-$7.5B
OPERATING CASH FLOW	-$4.8B
Capital Expenditure	-$352M
Acquisitions (Net)	-$752M
Purchases of Investments	-$20.9B
Sales/Maturities of Investments	$21.3B
Other Investing Activities	-$4.7B
NET CASH FROM INVESTING	-$5.1B
Net Debt Issuance	$1.2B
Common Stock Repurchased	$0
Common Dividends Paid	-$859M
Other Financing Activities	$15.3B
NET CASH FROM FINANCING	$15.8B
FREE CASH FLOW	-$5.2B
Net Change in Cash	$5.4B

Balance Sheet

Item	Amount
Cash & Equivalents	$16.5B
Short-Term Investments	$33.6B
Net Receivables	$4.8B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$54.9B
PP&E (Net)	$1.1B
Goodwill	$1.2B
Intangible Assets	$593M
Long-Term Investments	$182.1B
Tax Assets	$788M
Other Non-Current Assets	$79.2B
TOTAL NON-CURRENT ASSETS	$264.9B
TOTAL ASSETS	$319.9B
Account Payables	$5.7B
Short-Term Debt	$30.0B
Deferred Revenue	$0
Other Current Liabilities	$193.4B
TOTAL CURRENT LIABILITIES	$229.0B
Long-Term Debt	$27.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$243M
Other Non-Current Liabilities	$47.4B
TOTAL NON-CURRENT LIABILITIES	$75.0B
TOTAL LIABILITIES	$304.0B
Common Stock	$5.1B
Additional Paid-In Capital	$67M
Retained Earnings	$7.4B
Treasury Stock	$0
Accum. Other Comp. Income	$301M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$14.7B
Minority Interest	$1.1B
TOTAL EQUITY	$15.8B
TOTAL LIABILITIES & EQUITY	$319.9B
Total Debt	$57.4B
Net Debt	$40.8B