CVBF FY 2007 Earnings Report — CVB Financial Corp. Revenue & Financial Results | Market Cap Arena

CVB Financial Corp.CVBF

FY 2007 Earnings

Reported February 29, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$373M	—	$350M	—	6.5%
Op. Income	$83M	—	$104M	—	-19.8%
Gross Margin	50.6%	—	57.0%	—	-6.4pp
Net Margin	16.3%	—	20.5%	—	-4.3pp
EPS (Diluted)	$0.72	—	$0.83	—	-13.3%
Free Cash Flow	$64M	—	$62M	—	3.6%

Revenue Flow

Item	Amount
REVENUE	$373M
Cost of Revenue	$184M
GROSS PROFIT	$188M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$55M
SG&A Expenses	$61M
Other Expenses	$44M
Operating Expenses	$105M
Cost & Expenses	$290M
OPERATING INCOME	$83M
Interest Income	$341M
Interest Expense	$180M
Other Income/Expenses	$0
INCOME BEFORE TAX	$83M
Income Tax Expense	$22M
Net Income from Continuing Ops	$61M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$61M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$61M
D&A	$13M
EBIT	$83M
EBITDA	$96M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$373M
Cost of Revenue	$184M
GROSS PROFIT	$188M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$55M
SG&A Expenses	$61M
Other Expenses	$44M
Operating Expenses	$105M
Cost & Expenses	$290M
OPERATING INCOME	$83M
Interest Income	$341M
Interest Expense	$180M
Other Income/Expenses	$0
INCOME BEFORE TAX	$83M
Income Tax Expense	$22M
Net Income from Continuing Ops	$61M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$61M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$61M
D&A	$13M
EBIT	$83M
EBITDA	$96M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$61M
Depreciation & Amortization	$13M
Stock-Based Compensation	$0
Deferred Income Tax	$99.0K
Other Non-Cash Items	$2M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$71M
Capital Expenditure	-$7M
Acquisitions (Net)	$743.0K
Purchases of Investments	-$264M
Sales/Maturities of Investments	$534M
Other Investing Activities	-$285M
NET CASH FROM INVESTING	-$21M
Net Debt Issuance	-$53M
Common Stock Repurchased	-$34M
Common Dividends Paid	-$28M
Other Financing Activities	$7M
NET CASH FROM FINANCING	-$107M
FREE CASH FLOW	$64M
Net Change in Cash	-$57M

Balance Sheet

Item	Amount
Cash & Equivalents	$90M
Short-Term Investments	$0
Net Receivables	$30M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$120M
PP&E (Net)	$47M
Goodwill	$55M
Intangible Assets	$15M
Long-Term Investments	$5.9B
Tax Assets	$0
Other Non-Current Assets	$205M
TOTAL NON-CURRENT ASSETS	$6.2B
TOTAL ASSETS	$6.3B
Account Payables	$13M
Short-Term Debt	$1.6B
Deferred Revenue	$0
Other Current Liabilities	$3.4B
TOTAL CURRENT LIABILITIES	$5.0B
Long-Term Debt	$820M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1M
Other Non-Current Liabilities	$36M
TOTAL NON-CURRENT LIABILITIES	$857M
TOTAL LIABILITIES	$5.9B
Common Stock	$0
Additional Paid-In Capital	$354M
Retained Earnings	$67M
Treasury Stock	$0
Accum. Other Comp. Income	$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$425M
Minority Interest	$0
TOTAL EQUITY	$425M
TOTAL LIABILITIES & EQUITY	$6.3B
Total Debt	$2.5B
Net Debt	$2.4B