FCF FY 2013 Earnings Report — First Commonwealth Financial Corporation Revenue & Financial Results | Market Cap Arena

First Commonwealth Financial CorporationFCF

FY 2013 Earnings

Reported March 3, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$267M	—	$285M	—	-6.3%
Op. Income	$57M	—	$57M	—	0.3%
Gross Margin	84.6%	—	82.2%	—	2.5pp
Net Margin	15.6%	—	14.7%	—	0.8pp
EPS (Diluted)	$0.43	—	$0.40	—	7.5%
Free Cash Flow	$76M	—	$69M	—	11.0%

Revenue Flow

Item	Amount
REVENUE	$267M
Cost of Revenue	$41M
GROSS PROFIT	$226M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$100M
SG&A Expenses	$103M
Other Expenses	$65M
Operating Expenses	$169M
Cost & Expenses	$210M
OPERATING INCOME	$57M
Interest Income	$206M
Interest Expense	$22M
Other Income/Expenses	$0
INCOME BEFORE TAX	$57M
Income Tax Expense	$15M
Net Income from Continuing Ops	$41M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$41M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$41M
D&A	$11M
EBIT	$57M
EBITDA	$68M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$267M
Cost of Revenue	$41M
GROSS PROFIT	$226M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$100M
SG&A Expenses	$103M
Other Expenses	$65M
Operating Expenses	$169M
Cost & Expenses	$210M
OPERATING INCOME	$57M
Interest Income	$206M
Interest Expense	$22M
Other Income/Expenses	$0
INCOME BEFORE TAX	$57M
Income Tax Expense	$15M
Net Income from Continuing Ops	$41M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$41M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$41M
D&A	$11M
EBIT	$57M
EBITDA	$68M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$41M
Depreciation & Amortization	$11M
Stock-Based Compensation	$500.0K
Deferred Income Tax	$13M
Other Non-Cash Items	$12M
Change in Working Capital	$8M
OPERATING CASH FLOW	$86M
Capital Expenditure	-$10M
Acquisitions (Net)	$0
Purchases of Investments	-$540M
Sales/Maturities of Investments	$357M
Other Investing Activities	-$115M
NET CASH FROM INVESTING	-$307M
Net Debt Issuance	$224M
Common Stock Repurchased	-$33M
Common Dividends Paid	-$22M
Other Financing Activities	$28M
NET CASH FROM FINANCING	$196M
FREE CASH FLOW	$76M
Net Change in Cash	-$26M

Balance Sheet

Item	Amount
Cash & Equivalents	$77M
Short-Term Investments	$1.3B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$68M
Goodwill	$160M
Intangible Assets	$1M
Long-Term Investments	$4.3B
Tax Assets	$0
Other Non-Current Assets	$325M
TOTAL NON-CURRENT ASSETS	$4.8B
TOTAL ASSETS	$6.2B
Account Payables	$0
Short-Term Debt	$627M
Deferred Revenue	$0
Other Current Liabilities	$4.6B
TOTAL CURRENT LIABILITIES	$5.2B
Long-Term Debt	$217M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$56M
TOTAL NON-CURRENT LIABILITIES	$273M
TOTAL LIABILITIES	$5.5B
Common Stock	$106M
Additional Paid-In Capital	$365M
Retained Earnings	$335M
Treasury Stock	-$73M
Accum. Other Comp. Income	-$21M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$712M
Minority Interest	$0
TOTAL EQUITY	$712M
TOTAL LIABILITIES & EQUITY	$6.2B
Total Debt	$843M
Net Debt	$766M