CPF FY 2012 Earnings Report — Central Pacific Financial Corp. Revenue & Financial Results | Market Cap Arena

Central Pacific Financial Corp.CPF

FY 2012 Earnings

Reported February 28, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$189M	—	$193M	—	-2.3%
Op. Income	$47M	—	$37M	—	29.7%
Gross Margin	105.4%	—	111.4%	—	-6.0pp
Net Margin	25.1%	—	18.9%	—	6.2pp
EPS (Diluted)	$1.13	—	$3.31	—	-65.9%
Free Cash Flow	$36M	—	$22M	—	59.5%

Revenue Flow

Item	Amount
REVENUE	$189M
Cost of Revenue	-$10M
GROSS PROFIT	$199M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$77M
SG&A Expenses	$80M
Other Expenses	$71M
Operating Expenses	$151M
Cost & Expenses	$141M
OPERATING INCOME	$47M
Interest Income	$128M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$47M
Income Tax Expense	$0
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$17M
EBIT	$47M
EBITDA	$64M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$189M
Cost of Revenue	-$10M
GROSS PROFIT	$199M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$77M
SG&A Expenses	$80M
Other Expenses	$71M
Operating Expenses	$151M
Cost & Expenses	$141M
OPERATING INCOME	$47M
Interest Income	$128M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$47M
Income Tax Expense	$0
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$17M
EBIT	$47M
EBITDA	$64M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$47M
Depreciation & Amortization	$17M
Stock-Based Compensation	$4M
Deferred Income Tax	$0
Other Non-Cash Items	-$3M
Change in Working Capital	-$26M
OPERATING CASH FLOW	$39M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$791M
Sales/Maturities of Investments	$570M
Other Investing Activities	-$82M
NET CASH FROM INVESTING	-$306M
Net Debt Issuance	-$50M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$237M
NET CASH FROM FINANCING	$187M
FREE CASH FLOW	$36M
Net Change in Cash	-$80M

Balance Sheet

Item	Amount
Cash & Equivalents	$177M
Short-Term Investments	$1.5B
Net Receivables	$14M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.7B
PP&E (Net)	$49M
Goodwill	$0
Intangible Assets	$37M
Long-Term Investments	$2.3B
Tax Assets	$0
Other Non-Current Assets	$237M
TOTAL NON-CURRENT ASSETS	$2.6B
TOTAL ASSETS	$4.4B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$3.7B
TOTAL CURRENT LIABILITIES	$3.7B
Long-Term Debt	$108M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$67M
TOTAL NON-CURRENT LIABILITIES	$175M
TOTAL LIABILITIES	$3.9B
Common Stock	$785M
Additional Paid-In Capital	$71M
Retained Earnings	-$349M
Treasury Stock	$0
Accum. Other Comp. Income	-$830.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$505M
Minority Interest	$10M
TOTAL EQUITY	$515M
TOTAL LIABILITIES & EQUITY	$4.4B
Total Debt	$108M
Net Debt	-$69M