CBU FY 2007 Earnings Report — Community Bank System, Inc. Revenue & Financial Results | Market Cap Arena

Community Bank System, Inc.CBU

FY 2007 Earnings

Reported March 13, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$310M	—	$281M	—	10.1%
Op. Income	$45M	—	$50M	—	-10.2%
Gross Margin	60.5%	—	63.1%	—	-2.6pp
Net Margin	13.9%	—	13.6%	—	0.2pp
EPS (Diluted)	$1.42	—	$1.26	—	12.7%
Free Cash Flow	$41M	—	$67M	—	-38.7%

Revenue Flow

Item	Amount
REVENUE	$310M
Cost of Revenue	$122M
GROSS PROFIT	$187M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$76M
SG&A Expenses	$81M
Other Expenses	$61M
Operating Expenses	$142M
Cost & Expenses	$264M
OPERATING INCOME	$45M
Interest Income	$256M
Interest Expense	$120M
Other Income/Expenses	$0
INCOME BEFORE TAX	$45M
Income Tax Expense	$2M
Net Income from Continuing Ops	$43M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$43M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$43M
D&A	$9M
EBIT	$45M
EBITDA	$54M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$310M
Cost of Revenue	$122M
GROSS PROFIT	$187M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$76M
SG&A Expenses	$81M
Other Expenses	$61M
Operating Expenses	$142M
Cost & Expenses	$264M
OPERATING INCOME	$45M
Interest Income	$256M
Interest Expense	$120M
Other Income/Expenses	$0
INCOME BEFORE TAX	$45M
Income Tax Expense	$2M
Net Income from Continuing Ops	$43M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$43M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$43M
D&A	$9M
EBIT	$45M
EBITDA	$54M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$43M
Depreciation & Amortization	$9M
Stock-Based Compensation	$0
Deferred Income Tax	$742.0K
Other Non-Cash Items	-$2M
Change in Working Capital	$120.0K
OPERATING CASH FLOW	$51M
Capital Expenditure	-$10M
Acquisitions (Net)	-$12M
Purchases of Investments	-$711M
Sales/Maturities of Investments	$593M
Other Investing Activities	-$67M
NET CASH FROM INVESTING	-$206M
Net Debt Issuance	$119M
Common Stock Repurchased	-$12M
Common Dividends Paid	-$24M
Other Financing Activities	-$33M
NET CASH FROM FINANCING	$54M
FREE CASH FLOW	$41M
Net Change in Cash	-$101M

Balance Sheet

Item	Amount
Cash & Equivalents	$131M
Short-Term Investments	$0
Net Receivables	$26M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$156M
PP&E (Net)	$70M
Goodwill	$0
Intangible Assets	$256M
Long-Term Investments	$4.2B
Tax Assets	$0
Other Non-Current Assets	$39M
TOTAL NON-CURRENT ASSETS	$4.5B
TOTAL ASSETS	$4.7B
Account Payables	$61M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$3.2B
TOTAL CURRENT LIABILITIES	$3.3B
Long-Term Debt	$929M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$929M
TOTAL LIABILITIES	$4.2B
Common Stock	$33M
Additional Paid-In Capital	$208M
Retained Earnings	$310M
Treasury Stock	-$74M
Accum. Other Comp. Income	$702.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$479M
Minority Interest	$0
TOTAL EQUITY	$479M
TOTAL LIABILITIES & EQUITY	$4.7B
Total Debt	$929M
Net Debt	$799M