CVBF FY 2008 Earnings Report — CVB Financial Corp. Revenue & Financial Results | Market Cap Arena

CVB Financial Corp.CVBF

FY 2008 Earnings

Reported February 27, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$367M	—	$373M	—	-1.5%
Op. Income	$86M	—	$83M	—	3.2%
Gross Margin	54.9%	—	50.6%	—	4.3pp
Net Margin	17.2%	—	16.3%	—	0.9pp
EPS (Diluted)	$0.75	—	$0.72	—	4.2%
Free Cash Flow	$79M	—	$64M	—	23.3%

Revenue Flow

Item	Amount
REVENUE	$367M
Cost of Revenue	$165M
GROSS PROFIT	$202M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$68M
SG&A Expenses	$75M
Other Expenses	$41M
Operating Expenses	$116M
Cost & Expenses	$281M
OPERATING INCOME	$86M
Interest Income	$328M
Interest Expense	$139M
Other Income/Expenses	$0
INCOME BEFORE TAX	$86M
Income Tax Expense	$23M
Net Income from Continuing Ops	$63M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$63M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$63M
D&A	$11M
EBIT	$86M
EBITDA	$97M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$367M
Cost of Revenue	$165M
GROSS PROFIT	$202M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$68M
SG&A Expenses	$75M
Other Expenses	$41M
Operating Expenses	$116M
Cost & Expenses	$281M
OPERATING INCOME	$86M
Interest Income	$328M
Interest Expense	$139M
Other Income/Expenses	$0
INCOME BEFORE TAX	$86M
Income Tax Expense	$23M
Net Income from Continuing Ops	$63M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$63M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$63M
D&A	$11M
EBIT	$86M
EBITDA	$97M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$63M
Depreciation & Amortization	$11M
Stock-Based Compensation	$2M
Deferred Income Tax	-$13M
Other Non-Cash Items	$23M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$84M
Capital Expenditure	-$5M
Acquisitions (Net)	$0
Purchases of Investments	-$451M
Sales/Maturities of Investments	$382M
Other Investing Activities	-$260M
NET CASH FROM INVESTING	-$334M
Net Debt Issuance	-$11M
Common Stock Repurchased	-$650.0K
Common Dividends Paid	-$28M
Other Financing Activities	$166M
NET CASH FROM FINANCING	$256M
FREE CASH FLOW	$79M
Net Change in Cash	$6M

Balance Sheet

Item	Amount
Cash & Equivalents	$96M
Short-Term Investments	$0
Net Receivables	$29M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$124M
PP&E (Net)	$44M
Goodwill	$55M
Intangible Assets	$11M
Long-Term Investments	$6.2B
Tax Assets	$0
Other Non-Current Assets	$232M
TOTAL NON-CURRENT ASSETS	$6.5B
TOTAL ASSETS	$6.6B
Account Payables	$10M
Short-Term Debt	$2.4B
Deferred Revenue	$0
Other Current Liabilities	$3.5B
TOTAL CURRENT LIABILITIES	$5.9B
Long-Term Debt	$115M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$4M
Other Non-Current Liabilities	$47M
TOTAL NON-CURRENT LIABILITIES	$166M
TOTAL LIABILITIES	$6.0B
Common Stock	$0
Additional Paid-In Capital	$364M
Retained Earnings	$100M
Treasury Stock	$0
Accum. Other Comp. Income	$29M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$615M
Minority Interest	$0
TOTAL EQUITY	$615M
TOTAL LIABILITIES & EQUITY	$6.6B
Total Debt	$2.5B
Net Debt	$2.4B