FCF FY 2007 Earnings Report — First Commonwealth Financial Corporation Revenue & Financial Results | Market Cap Arena

First Commonwealth Financial CorporationFCF

FY 2007 Earnings

Reported February 29, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$380M	—	$377M	—	0.7%
Op. Income	$52M	—	$62M	—	-15.8%
Gross Margin	52.7%	—	52.9%	—	-0.2pp
Net Margin	12.2%	—	14.0%	—	-1.9pp
EPS (Diluted)	$0.63	—	$0.74	—	-14.9%
Free Cash Flow	$60M	—	$51M	—	16.5%

Revenue Flow

Item	Amount
REVENUE	$380M
Cost of Revenue	$180M
GROSS PROFIT	$200M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$76M
SG&A Expenses	$79M
Other Expenses	$69M
Operating Expenses	$148M
Cost & Expenses	$328M
OPERATING INCOME	$52M
Interest Income	$331M
Interest Expense	$170M
Other Income/Expenses	$0
INCOME BEFORE TAX	$52M
Income Tax Expense	$6M
Net Income from Continuing Ops	$46M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$46M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$46M
D&A	$5M
EBIT	$52M
EBITDA	$57M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$380M
Cost of Revenue	$180M
GROSS PROFIT	$200M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$76M
SG&A Expenses	$79M
Other Expenses	$69M
Operating Expenses	$148M
Cost & Expenses	$328M
OPERATING INCOME	$52M
Interest Income	$331M
Interest Expense	$170M
Other Income/Expenses	$0
INCOME BEFORE TAX	$52M
Income Tax Expense	$6M
Net Income from Continuing Ops	$46M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$46M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$46M
D&A	$5M
EBIT	$52M
EBITDA	$57M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$46M
Depreciation & Amortization	$5M
Stock-Based Compensation	$0
Deferred Income Tax	-$2M
Other Non-Cash Items	$17M
Change in Working Capital	$4M
OPERATING CASH FLOW	$70M
Capital Expenditure	-$10M
Acquisitions (Net)	$0
Purchases of Investments	-$344M
Sales/Maturities of Investments	$433M
Other Investing Activities	$77M
NET CASH FROM INVESTING	$157M
Net Debt Issuance	-$184M
Common Stock Repurchased	-$10M
Common Dividends Paid	-$50M
Other Financing Activities	$22M
NET CASH FROM FINANCING	-$221M
FREE CASH FLOW	$60M
Net Change in Cash	$6M

Balance Sheet

Item	Amount
Cash & Equivalents	$103M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$103M
PP&E (Net)	$69M
Goodwill	$160M
Intangible Assets	$13M
Long-Term Investments	$5.3B
Tax Assets	$0
Other Non-Current Assets	$237M
TOTAL NON-CURRENT ASSETS	$5.8B
TOTAL ASSETS	$5.9B
Account Payables	$0
Short-Term Debt	$354M
Deferred Revenue	$0
Other Current Liabilities	$4.3B
TOTAL CURRENT LIABILITIES	$4.7B
Long-Term Debt	$548M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$65M
TOTAL NON-CURRENT LIABILITIES	$613M
TOTAL LIABILITIES	$5.3B
Common Stock	$75M
Additional Paid-In Capital	$207M
Retained Earnings	$319M
Treasury Stock	-$23M
Accum. Other Comp. Income	-$10M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$569M
Minority Interest	$0
TOTAL EQUITY	$569M
TOTAL LIABILITIES & EQUITY	$5.9B
Total Debt	$902M
Net Debt	$800M