FFBC FY 2008 Earnings Report — First Financial Bancorp. Revenue & Financial Results | Market Cap Arena

First Financial Bancorp.FFBC

FY 2008 Earnings

Reported March 11, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$235M	—	$270M	—	-13.0%
Op. Income	$33M	—	$54M	—	-37.9%
Gross Margin	63.2%	—	64.6%	—	-1.4pp
Net Margin	9.8%	—	13.2%	—	-3.4pp
EPS (Diluted)	$0.61	—	$0.93	—	-34.4%
Free Cash Flow	$30M	—	$66M	—	-54.8%

Revenue Flow

Item	Amount
REVENUE	$235M
Cost of Revenue	$87M
GROSS PROFIT	$149M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$73M
SG&A Expenses	$76M
Other Expenses	$39M
Operating Expenses	$115M
Cost & Expenses	$202M
OPERATING INCOME	$33M
Interest Income	$183M
Interest Expense	$67M
Other Income/Expenses	$0
INCOME BEFORE TAX	$33M
Income Tax Expense	$10M
Net Income from Continuing Ops	$23M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$23M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$23M
D&A	$7M
EBIT	$33M
EBITDA	$40M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$235M
Cost of Revenue	$87M
GROSS PROFIT	$149M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$73M
SG&A Expenses	$76M
Other Expenses	$39M
Operating Expenses	$115M
Cost & Expenses	$202M
OPERATING INCOME	$33M
Interest Income	$183M
Interest Expense	$67M
Other Income/Expenses	$0
INCOME BEFORE TAX	$33M
Income Tax Expense	$10M
Net Income from Continuing Ops	$23M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$23M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$23M
D&A	$7M
EBIT	$33M
EBITDA	$40M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$23M
Depreciation & Amortization	$7M
Stock-Based Compensation	$2M
Deferred Income Tax	-$4M
Other Non-Cash Items	$19M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$42M
Capital Expenditure	-$12M
Acquisitions (Net)	$0
Purchases of Investments	-$368M
Sales/Maturities of Investments	$111M
Other Investing Activities	-$81M
NET CASH FROM INVESTING	-$349M
Net Debt Issuance	$359M
Common Stock Repurchased	$0
Common Dividends Paid	-$25M
Other Financing Activities	-$111M
NET CASH FROM FINANCING	$302M
FREE CASH FLOW	$30M
Net Change in Cash	-$5M

Balance Sheet

Item	Amount
Cash & Equivalents	$101M
Short-Term Investments	$0
Net Receivables	$141M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$242M
PP&E (Net)	$84M
Goodwill	$28M
Intangible Assets	$1M
Long-Term Investments	$3.3B
Tax Assets	$0
Other Non-Current Assets	$61.0K
TOTAL NON-CURRENT ASSETS	$3.5B
TOTAL ASSETS	$3.7B
Account Payables	$44M
Short-Term Debt	$298M
Deferred Revenue	$0
Other Current Liabilities	$2.8B
TOTAL CURRENT LIABILITIES	$3.2B
Long-Term Debt	$169M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$13M
TOTAL NON-CURRENT LIABILITIES	$182M
TOTAL LIABILITIES	$3.4B
Common Stock	$0
Additional Paid-In Capital	$394M
Retained Earnings	$76M
Treasury Stock	-$188M
Accum. Other Comp. Income	-$12M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$348M
Minority Interest	$0
TOTAL EQUITY	$348M
TOTAL LIABILITIES & EQUITY	$3.7B
Total Debt	$466M
Net Debt	$365M