FBNC FY 2011 Earnings Report — First Bancorp Revenue & Financial Results | Market Cap Arena

First BancorpFBNC

FY 2011 Earnings

Reported March 15, 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	$179M	—	$182M	—	-1.6%
Op. Income	$21M	—	$15M	—	40.6%
Gross Margin	63.8%	—	52.5%	—	11.3pp
Net Margin	7.6%	—	5.5%	—	2.1pp
EPS (Diluted)	$0.44	—	$0.35	—	25.7%
Free Cash Flow	$30M	—	$47M	—	-34.6%

Revenue Flow

Item	Amount
REVENUE	$179M
Cost of Revenue	$65M
GROSS PROFIT	$114M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$51M
SG&A Expenses	$51M
Other Expenses	$42M
Operating Expenses	$93M
Cost & Expenses	$158M
OPERATING INCOME	$21M
Interest Income	$156M
Interest Expense	$24M
Other Income/Expenses	$0
INCOME BEFORE TAX	$21M
Income Tax Expense	$7M
Net Income from Continuing Ops	$14M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$14M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7M
D&A	$5M
EBIT	$21M
EBITDA	$26M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$179M
Cost of Revenue	$65M
GROSS PROFIT	$114M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$51M
SG&A Expenses	$51M
Other Expenses	$42M
Operating Expenses	$93M
Cost & Expenses	$158M
OPERATING INCOME	$21M
Interest Income	$156M
Interest Expense	$24M
Other Income/Expenses	$0
INCOME BEFORE TAX	$21M
Income Tax Expense	$7M
Net Income from Continuing Ops	$14M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$14M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7M
D&A	$5M
EBIT	$21M
EBITDA	$26M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$14M
Depreciation & Amortization	$5M
Stock-Based Compensation	$905.0K
Deferred Income Tax	$0
Other Non-Cash Items	$46M
Change in Working Capital	-$29M
OPERATING CASH FLOW	$37M
Capital Expenditure	-$7M
Acquisitions (Net)	$54M
Purchases of Investments	-$80M
Sales/Maturities of Investments	$79M
Other Investing Activities	$125M
NET CASH FROM INVESTING	$171M
Net Debt Issuance	-$67M
Common Stock Repurchased	-$65M
Common Dividends Paid	-$5M
Other Financing Activities	-$128M
NET CASH FROM FINANCING	-$204M
FREE CASH FLOW	$30M
Net Change in Cash	$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$216M
Short-Term Investments	$183M
Net Receivables	$12M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$410M
PP&E (Net)	$70M
Goodwill	$66M
Intangible Assets	$4M
Long-Term Investments	$2.5B
Tax Assets	$0
Other Non-Current Assets	$288M
TOTAL NON-CURRENT ASSETS	$2.9B
TOTAL ASSETS	$3.3B
Account Payables	$2M
Short-Term Debt	$17M
Deferred Revenue	$0
Other Current Liabilities	$2.8B
TOTAL CURRENT LIABILITIES	$2.8B
Long-Term Debt	$134M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$37M
TOTAL NON-CURRENT LIABILITIES	$171M
TOTAL LIABILITIES	$2.9B
Common Stock	$105M
Additional Paid-In Capital	$105M
Retained Earnings	$185M
Treasury Stock	$0
Accum. Other Comp. Income	-$114M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$345M
Minority Interest	$0
TOTAL EQUITY	$345M
TOTAL LIABILITIES & EQUITY	$3.3B
Total Debt	$151M
Net Debt	-$65M