FBNC FY 2006 Earnings Report — First Bancorp Revenue & Financial Results | Market Cap Arena

First BancorpFBNC

FY 2006 Earnings

Reported March 16, 2007

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2006	Prior Q	FY 2005	QoQ Change	YoY Change
Revenue	$145M	—	—	—	—
Op. Income	$31M	—	—	—	—
Gross Margin	59.0%	—	—	—	—
Net Margin	13.3%	—	—	—	—
EPS (Diluted)	$1.34	—	—	—	—
Free Cash Flow	$14M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$145M
Cost of Revenue	$60M
GROSS PROFIT	$86M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$31M
SG&A Expenses	$31M
Other Expenses	$24M
Operating Expenses	$55M
Cost & Expenses	$115M
OPERATING INCOME	$31M
Interest Income	$129M
Interest Expense	$55M
Other Income/Expenses	$0
INCOME BEFORE TAX	$31M
Income Tax Expense	$11M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$3M
EBIT	$31M
EBITDA	$34M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$145M
Cost of Revenue	$60M
GROSS PROFIT	$86M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$31M
SG&A Expenses	$31M
Other Expenses	$24M
Operating Expenses	$55M
Cost & Expenses	$115M
OPERATING INCOME	$31M
Interest Income	$129M
Interest Expense	$55M
Other Income/Expenses	$0
INCOME BEFORE TAX	$31M
Income Tax Expense	$11M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$3M
EBIT	$31M
EBITDA	$34M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$19M
Depreciation & Amortization	$3M
Stock-Based Compensation	$0
Deferred Income Tax	-$1M
Other Non-Cash Items	$5M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$25M
Capital Expenditure	-$11M
Acquisitions (Net)	$0
Purchases of Investments	-$67M
Sales/Maturities of Investments	$49M
Other Investing Activities	-$221M
NET CASH FROM INVESTING	-$250M
Net Debt Issuance	$110M
Common Stock Repurchased	$0
Common Dividends Paid	-$10M
Other Financing Activities	$167M
NET CASH FROM FINANCING	$268M
FREE CASH FLOW	$14M
Net Change in Cash	$43M

Balance Sheet

Item	Amount
Cash & Equivalents	$127M
Short-Term Investments	$0
Net Receivables	$12M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$139M
PP&E (Net)	$44M
Goodwill	$0
Intangible Assets	$12M
Long-Term Investments	$1.9B
Tax Assets	$0
Other Non-Current Assets	$33M
TOTAL NON-CURRENT ASSETS	$2.0B
TOTAL ASSETS	$2.1B
Account Payables	$6M
Short-Term Debt	$43M
Deferred Revenue	$0
Other Current Liabilities	$1.7B
TOTAL CURRENT LIABILITIES	$1.7B
Long-Term Debt	$210M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$19M
TOTAL NON-CURRENT LIABILITIES	$229M
TOTAL LIABILITIES	$2.0B
Common Stock	$0
Additional Paid-In Capital	$56M
Retained Earnings	$111M
Treasury Stock	$0
Accum. Other Comp. Income	-$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$163M
Minority Interest	$0
TOTAL EQUITY	$163M
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$253M
Net Debt	$126M