CVBF FY 2011 Earnings Report — CVB Financial Corp. Revenue & Financial Results | Market Cap Arena

CVB Financial Corp.CVBF

FY 2011 Earnings

Reported February 29, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$297M	—	$367M	—	-19.0%
Op. Income	$121M	—	$87M	—	39.3%
Gross Margin	86.1%	—	67.5%	—	18.6pp
Net Margin	27.5%	—	17.2%	—	10.3pp
EPS (Diluted)	$0.77	—	$0.59	—	30.5%
Free Cash Flow	$128M	—	$96M	—	33.5%

Revenue Flow

Item	Amount
REVENUE	$297M
Cost of Revenue	$41M
GROSS PROFIT	$256M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$70M
SG&A Expenses	$75M
Other Expenses	$60M
Operating Expenses	$135M
Cost & Expenses	$176M
OPERATING INCOME	$121M
Interest Income	$269M
Interest Expense	$35M
Other Income/Expenses	$0
INCOME BEFORE TAX	$121M
Income Tax Expense	$39M
Net Income from Continuing Ops	$82M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$82M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$81M
D&A	$10M
EBIT	$121M
EBITDA	$130M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$297M
Cost of Revenue	$41M
GROSS PROFIT	$256M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$70M
SG&A Expenses	$75M
Other Expenses	$60M
Operating Expenses	$135M
Cost & Expenses	$176M
OPERATING INCOME	$121M
Interest Income	$269M
Interest Expense	$35M
Other Income/Expenses	$0
INCOME BEFORE TAX	$121M
Income Tax Expense	$39M
Net Income from Continuing Ops	$82M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$82M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$81M
D&A	$10M
EBIT	$121M
EBITDA	$130M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$82M
Depreciation & Amortization	$10M
Stock-Based Compensation	$2M
Deferred Income Tax	$0
Other Non-Cash Items	$55M
Change in Working Capital	-$19M
OPERATING CASH FLOW	$130M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$816M
Sales/Maturities of Investments	$464M
Other Investing Activities	$267M
NET CASH FROM INVESTING	-$87M
Net Debt Issuance	-$107M
Common Stock Repurchased	-$13M
Common Dividends Paid	-$36M
Other Financing Activities	$53M
NET CASH FROM FINANCING	-$102M
FREE CASH FLOW	$128M
Net Change in Cash	-$59M

Balance Sheet

Item	Amount
Cash & Equivalents	$405M
Short-Term Investments	$2.2B
Net Receivables	$185M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.8B
PP&E (Net)	$36M
Goodwill	$55M
Intangible Assets	$6M
Long-Term Investments	$3.3B
Tax Assets	$48M
Other Non-Current Assets	$231M
TOTAL NON-CURRENT ASSETS	$3.7B
TOTAL ASSETS	$6.5B
Account Payables	$4M
Short-Term Debt	$509M
Deferred Revenue	$0
Other Current Liabilities	$4.6B
TOTAL CURRENT LIABILITIES	$5.1B
Long-Term Debt	$564M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$87M
TOTAL NON-CURRENT LIABILITIES	$651M
TOTAL LIABILITIES	$5.8B
Common Stock	$480M
Additional Paid-In Capital	$480M
Retained Earnings	$193M
Treasury Stock	$0
Accum. Other Comp. Income	-$439M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$715M
Minority Interest	$0
TOTAL EQUITY	$715M
TOTAL LIABILITIES & EQUITY	$6.5B
Total Debt	$1.1B
Net Debt	$668M