FCF FY 2012 Earnings Report — First Commonwealth Financial Corporation Revenue & Financial Results | Market Cap Arena

First Commonwealth Financial CorporationFCF

FY 2012 Earnings

Reported March 13, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$285M	—	$289M	—	-1.6%
Op. Income	$57M	—	$15M	—	280.1%
Gross Margin	82.2%	—	66.3%	—	15.9pp
Net Margin	14.7%	—	5.3%	—	9.5pp
EPS (Diluted)	$0.40	—	$0.15	—	166.7%
Free Cash Flow	$69M	—	$76M	—	-9.6%

Revenue Flow

Item	Amount
REVENUE	$285M
Cost of Revenue	$51M
GROSS PROFIT	$234M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$105M
SG&A Expenses	$109M
Other Expenses	$68M
Operating Expenses	$177M
Cost & Expenses	$228M
OPERATING INCOME	$57M
Interest Income	$219M
Interest Expense	$30M
Other Income/Expenses	$0
INCOME BEFORE TAX	$57M
Income Tax Expense	$15M
Net Income from Continuing Ops	$42M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$42M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$42M
D&A	$8M
EBIT	$57M
EBITDA	$65M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$285M
Cost of Revenue	$51M
GROSS PROFIT	$234M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$105M
SG&A Expenses	$109M
Other Expenses	$68M
Operating Expenses	$177M
Cost & Expenses	$228M
OPERATING INCOME	$57M
Interest Income	$219M
Interest Expense	$30M
Other Income/Expenses	$0
INCOME BEFORE TAX	$57M
Income Tax Expense	$15M
Net Income from Continuing Ops	$42M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$42M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$42M
D&A	$8M
EBIT	$57M
EBITDA	$65M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$42M
Depreciation & Amortization	$8M
Stock-Based Compensation	$1M
Deferred Income Tax	$3M
Other Non-Cash Items	$14M
Change in Working Capital	$13M
OPERATING CASH FLOW	$79M
Capital Expenditure	-$10M
Acquisitions (Net)	$0
Purchases of Investments	-$605M
Sales/Maturities of Investments	$575M
Other Investing Activities	-$131M
NET CASH FROM INVESTING	-$171M
Net Debt Issuance	$159M
Common Stock Repurchased	-$36M
Common Dividends Paid	-$19M
Other Financing Activities	$12M
NET CASH FROM FINANCING	$117M
FREE CASH FLOW	$69M
Net Change in Cash	$25M

Balance Sheet

Item	Amount
Cash & Equivalents	$103M
Short-Term Investments	$1.2B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$69M
Goodwill	$160M
Intangible Assets	$2M
Long-Term Investments	$4.2B
Tax Assets	$0
Other Non-Current Assets	$324M
TOTAL NON-CURRENT ASSETS	$4.7B
TOTAL ASSETS	$6.0B
Account Payables	$0
Short-Term Debt	$356M
Deferred Revenue	$0
Other Current Liabilities	$4.6B
TOTAL CURRENT LIABILITIES	$4.9B
Long-Term Debt	$280M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$55M
TOTAL NON-CURRENT LIABILITIES	$335M
TOTAL LIABILITIES	$5.2B
Common Stock	$106M
Additional Paid-In Capital	$365M
Retained Earnings	$316M
Treasury Stock	-$42M
Accum. Other Comp. Income	$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$746M
Minority Interest	$0
TOTAL EQUITY	$746M
TOTAL LIABILITIES & EQUITY	$6.0B
Total Debt	$636M
Net Debt	$533M