FFBC FY 2010 Earnings Report — First Financial Bancorp. Revenue & Financial Results | Market Cap Arena

First Financial Bancorp.FFBC

FY 2010 Earnings

Reported February 28, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$438M	—	$295M	—	48.1%
Op. Income	$92M	—	$354M	—	-74.0%
Gross Margin	62.4%	—	61.6%	—	0.7pp
Net Margin	13.5%	—	74.9%	—	-61.4pp
EPS (Diluted)	$0.99	—	$5.33	—	-81.4%
Free Cash Flow	$162M	—	$26M	—	517.5%

Revenue Flow

Item	Amount
REVENUE	$438M
Cost of Revenue	$165M
GROSS PROFIT	$273M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$83M
SG&A Expenses	$88M
Other Expenses	$93M
Operating Expenses	$181M
Cost & Expenses	$346M
OPERATING INCOME	$92M
Interest Income	$344M
Interest Expense	$68M
Other Income/Expenses	$0
INCOME BEFORE TAX	$92M
Income Tax Expense	$33M
Net Income from Continuing Ops	$59M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$59M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$57M
D&A	$11M
EBIT	$92M
EBITDA	$103M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$438M
Cost of Revenue	$165M
GROSS PROFIT	$273M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$83M
SG&A Expenses	$88M
Other Expenses	$93M
Operating Expenses	$181M
Cost & Expenses	$346M
OPERATING INCOME	$92M
Interest Income	$344M
Interest Expense	$68M
Other Income/Expenses	$0
INCOME BEFORE TAX	$92M
Income Tax Expense	$33M
Net Income from Continuing Ops	$59M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$59M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$57M
D&A	$11M
EBIT	$92M
EBITDA	$103M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$59M
Depreciation & Amortization	$11M
Stock-Based Compensation	$3M
Deferred Income Tax	-$11M
Other Non-Cash Items	$15M
Change in Working Capital	$108M
OPERATING CASH FLOW	$185M
Capital Expenditure	-$23M
Acquisitions (Net)	$0
Purchases of Investments	-$620M
Sales/Maturities of Investments	$170M
Other Investing Activities	$499M
NET CASH FROM INVESTING	$26M
Net Debt Issuance	-$233M
Common Stock Repurchased	$0
Common Dividends Paid	-$22M
Other Financing Activities	-$204M
NET CASH FROM FINANCING	-$449M
FREE CASH FLOW	$162M
Net Change in Cash	-$238M

Balance Sheet

Item	Amount
Cash & Equivalents	$283M
Short-Term Investments	$0
Net Receivables	$300M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$583M
PP&E (Net)	$118M
Goodwill	$52M
Intangible Assets	$6M
Long-Term Investments	$5.3B
Tax Assets	$0
Other Non-Current Assets	$223M
TOTAL NON-CURRENT ASSETS	$5.7B
TOTAL ASSETS	$6.3B
Account Payables	$0
Short-Term Debt	$60M
Deferred Revenue	$0
Other Current Liabilities	$5.1B
TOTAL CURRENT LIABILITIES	$5.4B
Long-Term Debt	$150M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$150M
TOTAL LIABILITIES	$5.6B
Common Stock	$0
Additional Paid-In Capital	$580M
Retained Earnings	$310M
Treasury Stock	-$181M
Accum. Other Comp. Income	-$12M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$697M
Minority Interest	$0
TOTAL EQUITY	$697M
TOTAL LIABILITIES & EQUITY	$6.3B
Total Debt	$209M
Net Debt	-$74M