FBNC FY 2009 Earnings Report — First Bancorp Revenue & Financial Results | Market Cap Arena

First BancorpFBNC

FY 2009 Earnings

Reported March 16, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$178M	—	$169M	—	5.4%
Op. Income	$98M	—	$35M	—	180.3%
Gross Margin	61.1%	—	57.8%	—	3.3pp
Net Margin	33.9%	—	13.1%	—	20.9pp
EPS (Diluted)	$3.37	—	$1.37	—	146.0%
Free Cash Flow	$10M	—	$29M	—	-66.3%

Revenue Flow

Item	Amount
REVENUE	$178M
Cost of Revenue	$69M
GROSS PROFIT	$109M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$47M
SG&A Expenses	$47M
Other Expenses	-$37M
Operating Expenses	$11M
Cost & Expenses	$80M
OPERATING INCOME	$98M
Interest Income	$156M
Interest Expense	$49M
Other Income/Expenses	$0
INCOME BEFORE TAX	$98M
Income Tax Expense	$38M
Net Income from Continuing Ops	$60M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$60M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$56M
D&A	$630.0K
EBIT	$98M
EBITDA	$99M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$178M
Cost of Revenue	$69M
GROSS PROFIT	$109M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$47M
SG&A Expenses	$47M
Other Expenses	-$37M
Operating Expenses	$11M
Cost & Expenses	$80M
OPERATING INCOME	$98M
Interest Income	$156M
Interest Expense	$49M
Other Income/Expenses	$0
INCOME BEFORE TAX	$98M
Income Tax Expense	$38M
Net Income from Continuing Ops	$60M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$60M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$56M
D&A	$630.0K
EBIT	$98M
EBITDA	$99M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$60M
Depreciation & Amortization	$630.0K
Stock-Based Compensation	$449.0K
Deferred Income Tax	$20M
Other Non-Cash Items	-$69M
Change in Working Capital	$2M
OPERATING CASH FLOW	$15M
Capital Expenditure	-$5M
Acquisitions (Net)	$92M
Purchases of Investments	-$123M
Sales/Maturities of Investments	$137M
Other Investing Activities	$151M
NET CASH FROM INVESTING	$251M
Net Debt Issuance	-$349M
Common Stock Repurchased	$0
Common Dividends Paid	-$7M
Other Financing Activities	$153M
NET CASH FROM FINANCING	-$140M
FREE CASH FLOW	$10M
Net Change in Cash	$126M

Balance Sheet

Item	Amount
Cash & Equivalents	$343M
Short-Term Investments	$0
Net Receivables	$15M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$358M
PP&E (Net)	$54M
Goodwill	$66M
Intangible Assets	$5M
Long-Term Investments	$2.8B
Tax Assets	$0
Other Non-Current Assets	$233M
TOTAL NON-CURRENT ASSETS	$3.2B
TOTAL ASSETS	$3.5B
Account Payables	$3M
Short-Term Debt	$64M
Deferred Revenue	$0
Other Current Liabilities	$2.9B
TOTAL CURRENT LIABILITIES	$3.0B
Long-Term Debt	$177M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$26M
TOTAL NON-CURRENT LIABILITIES	$203M
TOTAL LIABILITIES	$3.2B
Common Stock	$0
Additional Paid-In Capital	$98M
Retained Earnings	$183M
Treasury Stock	$0
Accum. Other Comp. Income	-$4M
Other Equity	$803.0K
TOTAL STOCKHOLDERS' EQUITY	$342M
Minority Interest	$0
TOTAL EQUITY	$342M
TOTAL LIABILITIES & EQUITY	$3.5B
Total Debt	$241M
Net Debt	-$102M