FCF FY 2014 Earnings Report — First Commonwealth Financial Corporation Revenue & Financial Results | Market Cap Arena

First Commonwealth Financial CorporationFCF

FY 2014 Earnings

Reported March 2, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$263M	—	$267M	—	-1.3%
Op. Income	$62M	—	$57M	—	9.5%
Gross Margin	88.7%	—	84.6%	—	4.1pp
Net Margin	16.9%	—	15.6%	—	1.3pp
EPS (Diluted)	$0.48	—	$0.43	—	11.6%
Free Cash Flow	$71M	—	$76M	—	-6.5%

Revenue Flow

Item	Amount
REVENUE	$263M
Cost of Revenue	$30M
GROSS PROFIT	$233M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$100M
SG&A Expenses	$103M
Other Expenses	$68M
Operating Expenses	$171M
Cost & Expenses	$201M
OPERATING INCOME	$62M
Interest Income	$202M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$62M
Income Tax Expense	$18M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$14M
EBIT	$62M
EBITDA	$76M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$263M
Cost of Revenue	$30M
GROSS PROFIT	$233M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$100M
SG&A Expenses	$103M
Other Expenses	$68M
Operating Expenses	$171M
Cost & Expenses	$201M
OPERATING INCOME	$62M
Interest Income	$202M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$62M
Income Tax Expense	$18M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$14M
EBIT	$62M
EBITDA	$76M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$44M
Depreciation & Amortization	$14M
Stock-Based Compensation	$1M
Deferred Income Tax	$5M
Other Non-Cash Items	$17M
Change in Working Capital	$2M
OPERATING CASH FLOW	$82M
Capital Expenditure	-$11M
Acquisitions (Net)	-$3M
Purchases of Investments	-$340M
Sales/Maturities of Investments	$376M
Other Investing Activities	-$186M
NET CASH FROM INVESTING	-$164M
Net Debt Issuance	$431M
Common Stock Repurchased	-$31M
Common Dividends Paid	-$26M
Other Financing Activities	-$295M
NET CASH FROM FINANCING	$79M
FREE CASH FLOW	$71M
Net Change in Cash	-$3M

Balance Sheet

Item	Amount
Cash & Equivalents	$75M
Short-Term Investments	$1.3B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$65M
Goodwill	$161M
Intangible Assets	$2M
Long-Term Investments	$4.5B
Tax Assets	$0
Other Non-Current Assets	$296M
TOTAL NON-CURRENT ASSETS	$5.0B
TOTAL ASSETS	$6.4B
Account Payables	$0
Short-Term Debt	$1.1B
Deferred Revenue	$0
Other Current Liabilities	$4.3B
TOTAL CURRENT LIABILITIES	$5.4B
Long-Term Debt	$162M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$61M
TOTAL NON-CURRENT LIABILITIES	$223M
TOTAL LIABILITIES	$5.6B
Common Stock	$106M
Additional Paid-In Capital	$366M
Retained Earnings	$353M
Treasury Stock	-$104M
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$716M
Minority Interest	$0
TOTAL EQUITY	$716M
TOTAL LIABILITIES & EQUITY	$6.4B
Total Debt	$1.3B
Net Debt	$1.2B