FBP FY 2015 Earnings Report — First BanCorp. Revenue & Financial Results | Market Cap Arena

First BanCorp.FBP

FY 2015 Earnings

Reported March 14, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$608M	—	$622M	—	-2.3%
Op. Income	$28M	—	$92M	—	-69.8%
Gross Margin	54.6%	—	63.9%	—	-9.2pp
Net Margin	3.5%	—	63.1%	—	-59.6pp
EPS (Diluted)	$0.10	—	$1.87	—	-94.7%
Free Cash Flow	$249M	—	$242M	—	3.0%

Revenue Flow

Item	Amount
REVENUE	$608M
Cost of Revenue	$276M
GROSS PROFIT	$332M
R&D Expenses	$0
Selling & Marketing	$15M
General & Administrative	$161M
SG&A Expenses	$176M
Other Expenses	$128M
Operating Expenses	$304M
Cost & Expenses	$580M
OPERATING INCOME	$28M
Interest Income	$606M
Interest Expense	$103M
Other Income/Expenses	$0
INCOME BEFORE TAX	$28M
Income Tax Expense	$6M
Net Income from Continuing Ops	$21M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$21M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$21M
D&A	$26M
EBIT	$28M
EBITDA	$54M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$608M
Cost of Revenue	$276M
GROSS PROFIT	$332M
R&D Expenses	$0
Selling & Marketing	$15M
General & Administrative	$161M
SG&A Expenses	$176M
Other Expenses	$128M
Operating Expenses	$304M
Cost & Expenses	$580M
OPERATING INCOME	$28M
Interest Income	$606M
Interest Expense	$103M
Other Income/Expenses	$0
INCOME BEFORE TAX	$28M
Income Tax Expense	$6M
Net Income from Continuing Ops	$21M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$21M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$21M
D&A	$26M
EBIT	$28M
EBITDA	$54M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$21M
Depreciation & Amortization	$26M
Stock-Based Compensation	$6M
Deferred Income Tax	$80.0K
Other Non-Cash Items	$174M
Change in Working Capital	$34M
OPERATING CASH FLOW	$262M
Capital Expenditure	-$12M
Acquisitions (Net)	$218M
Purchases of Investments	-$255M
Sales/Maturities of Investments	$302M
Other Investing Activities	$187M
NET CASH FROM INVESTING	$439M
Net Debt Issuance	$130M
Common Stock Repurchased	-$1M
Common Dividends Paid	$0
Other Financing Activities	-$873M
NET CASH FROM FINANCING	-$745M
FREE CASH FLOW	$249M
Net Change in Cash	-$44M

Balance Sheet

Item	Amount
Cash & Equivalents	$536M
Short-Term Investments	$1.3B
Net Receivables	$278M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$161M
Goodwill	$28M
Intangible Assets	$22M
Long-Term Investments	$8.9B
Tax Assets	$0
Other Non-Current Assets	$1.4B
TOTAL NON-CURRENT ASSETS	$10.4B
TOTAL ASSETS	$12.6B
Account Payables	$159M
Short-Term Debt	$800M
Deferred Revenue	$0
Other Current Liabilities	$9.3B
TOTAL CURRENT LIABILITIES	$10.3B
Long-Term Debt	$681M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$100M
TOTAL NON-CURRENT LIABILITIES	$581M
TOTAL LIABILITIES	$10.9B
Common Stock	$22M
Additional Paid-In Capital	$926M
Retained Earnings	$738M
Treasury Stock	-$96.0K
Accum. Other Comp. Income	-$28M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$12.6B
Total Debt	$1.5B
Net Debt	$946M