CPF FY 2019 Earnings Report — Central Pacific Financial Corp. Revenue & Financial Results | Market Cap Arena

Central Pacific Financial Corp.CPF

FY 2019 Earnings

Reported February 25, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$258M	—	$232M	—	11.2%
Op. Income	$78M	—	$78M	—	-0.4%
Gross Margin	85.0%	—	90.0%	—	-5.0pp
Net Margin	22.6%	—	25.6%	—	-3.0pp
EPS (Diluted)	$2.03	—	$2.01	—	1.0%
Free Cash Flow	$65M	—	$100M	—	-35.2%

Revenue Flow

Item	Amount
REVENUE	$258M
Cost of Revenue	$39M
GROSS PROFIT	$220M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$95M
SG&A Expenses	$98M
Other Expenses	$44M
Operating Expenses	$142M
Cost & Expenses	$180M
OPERATING INCOME	$78M
Interest Income	$215M
Interest Expense	$32M
Other Income/Expenses	$0
INCOME BEFORE TAX	$78M
Income Tax Expense	$20M
Net Income from Continuing Ops	$58M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$58M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$58M
D&A	$9M
EBIT	$78M
EBITDA	$87M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$258M
Cost of Revenue	$39M
GROSS PROFIT	$220M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$95M
SG&A Expenses	$98M
Other Expenses	$44M
Operating Expenses	$142M
Cost & Expenses	$180M
OPERATING INCOME	$78M
Interest Income	$215M
Interest Expense	$32M
Other Income/Expenses	$0
INCOME BEFORE TAX	$78M
Income Tax Expense	$20M
Net Income from Continuing Ops	$58M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$58M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$58M
D&A	$9M
EBIT	$78M
EBITDA	$87M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$58M
Depreciation & Amortization	$9M
Stock-Based Compensation	$3M
Deferred Income Tax	-$4M
Other Non-Cash Items	$8M
Change in Working Capital	-$1M
OPERATING CASH FLOW	$72M
Capital Expenditure	-$7M
Acquisitions (Net)	-$1M
Purchases of Investments	-$55M
Sales/Maturities of Investments	$309M
Other Investing Activities	-$374M
NET CASH FROM INVESTING	-$129M
Net Debt Issuance	-$68M
Common Stock Repurchased	-$23M
Common Dividends Paid	-$26M
Other Financing Activities	$174M
NET CASH FROM FINANCING	$58M
FREE CASH FLOW	$65M
Net Change in Cash	$786.0K

Balance Sheet

Item	Amount
Cash & Equivalents	$103M
Short-Term Investments	$1.1B
Net Receivables	$17M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$99M
Goodwill	$0
Intangible Assets	$15M
Long-Term Investments	$4.4B
Tax Assets	$0
Other Non-Current Assets	$224M
TOTAL NON-CURRENT ASSETS	$4.8B
TOTAL ASSETS	$6.0B
Account Payables	$0
Short-Term Debt	$150M
Deferred Revenue	$0
Other Current Liabilities	$5.1B
TOTAL CURRENT LIABILITIES	$5.3B
Long-Term Debt	$102M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$60M
TOTAL NON-CURRENT LIABILITIES	$214M
TOTAL LIABILITIES	$5.5B
Common Stock	$448M
Additional Paid-In Capital	$92M
Retained Earnings	-$19M
Treasury Stock	$0
Accum. Other Comp. Income	$8M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$529M
Minority Interest	$0
TOTAL EQUITY	$529M
TOTAL LIABILITIES & EQUITY	$6.0B
Total Debt	$304M
Net Debt	$201M