CHCO FY 2010 Earnings Report — City Holding Company Revenue & Financial Results | Market Cap Arena

City Holding CompanyCHCO

FY 2010 Earnings

Reported March 8, 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	$169M	—	$189M	—	-10.8%
Op. Income	$57M	—	$63M	—	-9.1%
Gross Margin	79.4%	—	77.0%	—	2.5pp
Net Margin	23.1%	—	22.5%	—	0.5pp
EPS (Diluted)	$2.47	—	$2.68	—	-7.8%
Free Cash Flow	$63M	—	$16M	—	292.0%

Revenue Flow

Item	Amount
REVENUE	$169M
Cost of Revenue	$35M
GROSS PROFIT	$134M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$42M
SG&A Expenses	$46M
Other Expenses	$31M
Operating Expenses	$77M
Cost & Expenses	$111M
OPERATING INCOME	$57M
Interest Income	$122M
Interest Expense	$28M
Other Income/Expenses	$0
INCOME BEFORE TAX	$57M
Income Tax Expense	$18M
Net Income from Continuing Ops	$39M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$39M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$39M
D&A	$6M
EBIT	$57M
EBITDA	$63M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$169M
Cost of Revenue	$35M
GROSS PROFIT	$134M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$42M
SG&A Expenses	$46M
Other Expenses	$31M
Operating Expenses	$77M
Cost & Expenses	$111M
OPERATING INCOME	$57M
Interest Income	$122M
Interest Expense	$28M
Other Income/Expenses	$0
INCOME BEFORE TAX	$57M
Income Tax Expense	$18M
Net Income from Continuing Ops	$39M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$39M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$39M
D&A	$6M
EBIT	$57M
EBITDA	$63M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$39M
Depreciation & Amortization	$6M
Stock-Based Compensation	$830.0K
Deferred Income Tax	-$1M
Other Non-Cash Items	$11M
Change in Working Capital	$13M
OPERATING CASH FLOW	$68M
Capital Expenditure	-$5M
Acquisitions (Net)	$0
Purchases of Investments	-$980M
Sales/Maturities of Investments	$1.0B
Other Investing Activities	-$85M
NET CASH FROM INVESTING	-$32M
Net Debt Issuance	-$6M
Common Stock Repurchased	-$13M
Common Dividends Paid	-$21M
Other Financing Activities	$8M
NET CASH FROM FINANCING	-$32M
FREE CASH FLOW	$63M
Net Change in Cash	$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$55M
Short-Term Investments	$0
Net Receivables	$7M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$63M
PP&E (Net)	$65M
Goodwill	$55M
Intangible Assets	$2M
Long-Term Investments	$2.3B
Tax Assets	$29M
Other Non-Current Assets	$124M
TOTAL NON-CURRENT ASSETS	$2.6B
TOTAL ASSETS	$2.6B
Account Payables	$0
Short-Term Debt	$113M
Deferred Revenue	$0
Other Current Liabilities	$2.2B
TOTAL CURRENT LIABILITIES	$2.3B
Long-Term Debt	$16M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$22M
TOTAL NON-CURRENT LIABILITIES	$38M
TOTAL LIABILITIES	$2.3B
Common Stock	$46M
Additional Paid-In Capital	$103M
Retained Earnings	$271M
Treasury Stock	-$103M
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$315M
Minority Interest	$0
TOTAL EQUITY	$315M
TOTAL LIABILITIES & EQUITY	$2.6B
Total Debt	$129M
Net Debt	$74M