COLB FY 2008 Earnings Report — Columbia Banking System, Inc. Revenue & Financial Results | Market Cap Arena

Columbia Banking System, Inc.COLB

FY 2008 Earnings

Reported February 27, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$550M	—	$553M	—	-0.6%
Op. Income	$73M	—	$95M	—	-22.9%
Gross Margin	52.7%	—	55.9%	—	-3.2pp
Net Margin	9.3%	—	11.4%	—	-2.1pp
EPS (Diluted)	$0.82	—	$1.05	—	-21.9%
Free Cash Flow	$136M	—	$80M	—	70.5%

Revenue Flow

Item	Amount
REVENUE	$550M
Cost of Revenue	$260M
GROSS PROFIT	$290M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$143M
SG&A Expenses	$148M
Other Expenses	$69M
Operating Expenses	$217M
Cost & Expenses	$476M
OPERATING INCOME	$73M
Interest Income	$442M
Interest Expense	$152M
Other Income/Expenses	$0
INCOME BEFORE TAX	$73M
Income Tax Expense	$22M
Net Income from Continuing Ops	$51M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$51M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$49M
D&A	$7M
EBIT	$73M
EBITDA	$80M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$550M
Cost of Revenue	$260M
GROSS PROFIT	$290M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$143M
SG&A Expenses	$148M
Other Expenses	$69M
Operating Expenses	$217M
Cost & Expenses	$476M
OPERATING INCOME	$73M
Interest Income	$442M
Interest Expense	$152M
Other Income/Expenses	$0
INCOME BEFORE TAX	$73M
Income Tax Expense	$22M
Net Income from Continuing Ops	$51M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$51M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$49M
D&A	$7M
EBIT	$73M
EBITDA	$80M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$51M
Depreciation & Amortization	$7M
Stock-Based Compensation	$4M
Deferred Income Tax	$10M
Other Non-Cash Items	$71M
Change in Working Capital	$3M
OPERATING CASH FLOW	$147M
Capital Expenditure	-$11M
Acquisitions (Net)	$0
Purchases of Investments	-$816M
Sales/Maturities of Investments	$641M
Other Investing Activities	-$191M
NET CASH FROM INVESTING	-$378M
Net Debt Issuance	$133M
Common Stock Repurchased	-$129.0K
Common Dividends Paid	-$46M
Other Financing Activities	-$45M
NET CASH FROM FINANCING	$244M
FREE CASH FLOW	$136M
Net Change in Cash	$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$205M
Short-Term Investments	$0
Net Receivables	$12M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$205M
PP&E (Net)	$105M
Goodwill	$0
Intangible Assets	$766M
Long-Term Investments	$7.3B
Tax Assets	$0
Other Non-Current Assets	$210M
TOTAL NON-CURRENT ASSETS	$8.4B
TOTAL ASSETS	$8.6B
Account Payables	$0
Short-Term Debt	$254M
Deferred Revenue	$0
Other Current Liabilities	$6.6B
TOTAL CURRENT LIABILITIES	$6.8B
Long-Term Debt	$196M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$71M
TOTAL NON-CURRENT LIABILITIES	$267M
TOTAL LIABILITIES	$7.1B
Common Stock	$1.0B
Additional Paid-In Capital	$0
Retained Earnings	$265M
Treasury Stock	$0
Accum. Other Comp. Income	$14M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$8.6B
Total Debt	$450M
Net Debt	$246M