CPF FY 2018 Earnings Report — Central Pacific Financial Corp. Revenue & Financial Results | Market Cap Arena

Central Pacific Financial Corp.CPF

FY 2018 Earnings

Reported February 27, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$232M	—	$215M	—	8.2%
Op. Income	$78M	—	$76M	—	3.2%
Gross Margin	90.0%	—	94.5%	—	-4.5pp
Net Margin	25.6%	—	19.2%	—	6.4pp
EPS (Diluted)	$2.01	—	$1.34	—	50.0%
Free Cash Flow	$100M	—	$90M	—	11.1%

Revenue Flow

Item	Amount
REVENUE	$232M
Cost of Revenue	$23M
GROSS PROFIT	$209M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$91M
SG&A Expenses	$95M
Other Expenses	$36M
Operating Expenses	$131M
Cost & Expenses	$154M
OPERATING INCOME	$78M
Interest Income	$198M
Interest Expense	$25M
Other Income/Expenses	$0
INCOME BEFORE TAX	$78M
Income Tax Expense	$19M
Net Income from Continuing Ops	$59M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$59M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$59M
D&A	$10M
EBIT	$78M
EBITDA	$88M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$232M
Cost of Revenue	$23M
GROSS PROFIT	$209M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$91M
SG&A Expenses	$95M
Other Expenses	$36M
Operating Expenses	$131M
Cost & Expenses	$154M
OPERATING INCOME	$78M
Interest Income	$198M
Interest Expense	$25M
Other Income/Expenses	$0
INCOME BEFORE TAX	$78M
Income Tax Expense	$19M
Net Income from Continuing Ops	$59M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$59M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$59M
D&A	$10M
EBIT	$78M
EBITDA	$88M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$59M
Depreciation & Amortization	$10M
Stock-Based Compensation	$3M
Deferred Income Tax	$8M
Other Non-Cash Items	$21M
Change in Working Capital	$2M
OPERATING CASH FLOW	$103M
Capital Expenditure	-$3M
Acquisitions (Net)	-$3M
Purchases of Investments	-$85M
Sales/Maturities of Investments	$197M
Other Investing Activities	-$316M
NET CASH FROM INVESTING	-$211M
Net Debt Issuance	$194M
Common Stock Repurchased	-$33M
Common Dividends Paid	-$24M
Other Financing Activities	-$10M
NET CASH FROM FINANCING	$128M
FREE CASH FLOW	$100M
Net Change in Cash	$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$102M
Short-Term Investments	$1.2B
Net Receivables	$17M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$45M
Goodwill	$0
Intangible Assets	$16M
Long-Term Investments	$4.2B
Tax Assets	$0
Other Non-Current Assets	$221M
TOTAL NON-CURRENT ASSETS	$4.5B
TOTAL ASSETS	$5.8B
Account Payables	$0
Short-Term Debt	$197M
Deferred Revenue	$0
Other Current Liabilities	$4.9B
TOTAL CURRENT LIABILITIES	$5.1B
Long-Term Debt	$122M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$50M
TOTAL NON-CURRENT LIABILITIES	$172M
TOTAL LIABILITIES	$5.3B
Common Stock	$471M
Additional Paid-In Capital	$89M
Retained Earnings	-$52M
Treasury Stock	$0
Accum. Other Comp. Income	-$16M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$492M
Minority Interest	$0
TOTAL EQUITY	$492M
TOTAL LIABILITIES & EQUITY	$5.8B
Total Debt	$319M
Net Debt	$217M