CVBF FY 2012 Earnings Report — CVB Financial Corp. Revenue & Financial Results | Market Cap Arena

CVB Financial Corp.CVBF

FY 2012 Earnings

Reported March 1, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$276M	—	$297M	—	-7.1%
Op. Income	$115M	—	$121M	—	-5.1%
Gross Margin	91.2%	—	86.1%	—	5.1pp
Net Margin	28.0%	—	27.5%	—	0.5pp
EPS (Diluted)	$0.74	—	$0.77	—	-3.9%
Free Cash Flow	$150M	—	$128M	—	17.3%

Revenue Flow

Item	Amount
REVENUE	$276M
Cost of Revenue	$24M
GROSS PROFIT	$252M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$68M
SG&A Expenses	$73M
Other Expenses	$64M
Operating Expenses	$137M
Cost & Expenses	$161M
OPERATING INCOME	$115M
Interest Income	$262M
Interest Expense	$25M
Other Income/Expenses	$0
INCOME BEFORE TAX	$115M
Income Tax Expense	$37M
Net Income from Continuing Ops	$77M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$77M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$77M
D&A	$8M
EBIT	$115M
EBITDA	$122M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$276M
Cost of Revenue	$24M
GROSS PROFIT	$252M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$68M
SG&A Expenses	$73M
Other Expenses	$64M
Operating Expenses	$137M
Cost & Expenses	$161M
OPERATING INCOME	$115M
Interest Income	$262M
Interest Expense	$25M
Other Income/Expenses	$0
INCOME BEFORE TAX	$115M
Income Tax Expense	$37M
Net Income from Continuing Ops	$77M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$77M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$77M
D&A	$8M
EBIT	$115M
EBITDA	$122M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$77M
Depreciation & Amortization	$8M
Stock-Based Compensation	$2M
Deferred Income Tax	$0
Other Non-Cash Items	$19M
Change in Working Capital	$48M
OPERATING CASH FLOW	$155M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$943M
Sales/Maturities of Investments	$644M
Other Investing Activities	$82M
NET CASH FROM INVESTING	-$221M
Net Debt Issuance	-$272M
Common Stock Repurchased	-$54.0K
Common Dividends Paid	-$45M
Other Financing Activities	$136M
NET CASH FROM FINANCING	-$181M
FREE CASH FLOW	$150M
Net Change in Cash	-$247M

Balance Sheet

Item	Amount
Cash & Equivalents	$168M
Short-Term Investments	$2.4B
Net Receivables	$145M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.8B
PP&E (Net)	$35M
Goodwill	$55M
Intangible Assets	$3M
Long-Term Investments	$3.3B
Tax Assets	$0
Other Non-Current Assets	$219M
TOTAL NON-CURRENT ASSETS	$3.6B
TOTAL ASSETS	$6.4B
Account Payables	$1M
Short-Term Debt	$499M
Deferred Revenue	$0
Other Current Liabilities	$4.8B
TOTAL CURRENT LIABILITIES	$5.3B
Long-Term Debt	$266M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$60M
TOTAL NON-CURRENT LIABILITIES	$326M
TOTAL LIABILITIES	$5.6B
Common Stock	$485M
Additional Paid-In Capital	$485M
Retained Earnings	$235M
Treasury Stock	$0
Accum. Other Comp. Income	-$441M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$763M
Minority Interest	$0
TOTAL EQUITY	$763M
TOTAL LIABILITIES & EQUITY	$6.4B
Total Debt	$765M
Net Debt	$597M