CPF FY 2013 Earnings Report — Central Pacific Financial Corp. Revenue & Financial Results | Market Cap Arena

Central Pacific Financial Corp.CPF

FY 2013 Earnings

Reported February 28, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$194M	—	$189M	—	3.1%
Op. Income	$60M	—	$47M	—	26.2%
Gross Margin	102.1%	—	105.4%	—	-3.3pp
Net Margin	88.5%	—	25.1%	—	63.4pp
EPS (Diluted)	$4.07	—	$1.13	—	260.2%
Free Cash Flow	$78M	—	$36M	—	119.2%

Revenue Flow

Item	Amount
REVENUE	$194M
Cost of Revenue	-$4M
GROSS PROFIT	$199M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$84M
SG&A Expenses	$87M
Other Expenses	$52M
Operating Expenses	$139M
Cost & Expenses	$135M
OPERATING INCOME	$60M
Interest Income	$140M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$60M
Income Tax Expense	-$112M
Net Income from Continuing Ops	$172M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$172M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$172M
D&A	$13M
EBIT	$60M
EBITDA	$73M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$194M
Cost of Revenue	-$4M
GROSS PROFIT	$199M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$84M
SG&A Expenses	$87M
Other Expenses	$52M
Operating Expenses	$139M
Cost & Expenses	$135M
OPERATING INCOME	$60M
Interest Income	$140M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$60M
Income Tax Expense	-$112M
Net Income from Continuing Ops	$172M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$172M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$172M
D&A	$13M
EBIT	$60M
EBITDA	$73M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$172M
Depreciation & Amortization	$13M
Stock-Based Compensation	$5M
Deferred Income Tax	-$112M
Other Non-Cash Items	$20M
Change in Working Capital	-$14M
OPERATING CASH FLOW	$85M
Capital Expenditure	-$6M
Acquisitions (Net)	-$9M
Purchases of Investments	-$758M
Sales/Maturities of Investments	$734M
Other Investing Activities	-$403M
NET CASH FROM INVESTING	-$442M
Net Debt Issuance	-$7M
Common Stock Repurchased	$0
Common Dividends Paid	-$7M
Other Financing Activities	$255M
NET CASH FROM FINANCING	$229M
FREE CASH FLOW	$78M
Net Change in Cash	-$128M

Balance Sheet

Item	Amount
Cash & Equivalents	$49M
Short-Term Investments	$1.4B
Net Receivables	$14M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$49M
Goodwill	$0
Intangible Assets	$33M
Long-Term Investments	$2.8B
Tax Assets	$0
Other Non-Current Assets	$368M
TOTAL NON-CURRENT ASSETS	$3.3B
TOTAL ASSETS	$4.7B
Account Payables	$0
Short-Term Debt	$8M
Deferred Revenue	$0
Other Current Liabilities	$3.9B
TOTAL CURRENT LIABILITIES	$3.9B
Long-Term Debt	$93M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$44M
TOTAL NON-CURRENT LIABILITIES	$137M
TOTAL LIABILITIES	$4.1B
Common Stock	$785M
Additional Paid-In Capital	$75M
Retained Earnings	-$184M
Treasury Stock	$0
Accum. Other Comp. Income	-$16M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$660M
Minority Interest	$61.0K
TOTAL EQUITY	$660M
TOTAL LIABILITIES & EQUITY	$4.7B
Total Debt	$101M
Net Debt	$51M