FFBC FY 2012 Earnings Report — First Financial Bancorp. Revenue & Financial Results | Market Cap Arena

First Financial Bancorp.FFBC

FY 2012 Earnings

Reported February 25, 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	$368M	—	$381M	—	-3.5%
Op. Income	$104M	—	$105M	—	-1.2%
Gross Margin	78.9%	—	66.4%	—	12.5pp
Net Margin	18.3%	—	17.5%	—	0.8pp
EPS (Diluted)	$1.14	—	$1.14	—	0.0%
Free Cash Flow	$186M	—	$180M	—	3.8%

Revenue Flow

Item	Amount
REVENUE	$368M
Cost of Revenue	$78M
GROSS PROFIT	$290M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$95M
SG&A Expenses	$100M
Other Expenses	$86M
Operating Expenses	$187M
Cost & Expenses	$264M
OPERATING INCOME	$104M
Interest Income	$281M
Interest Expense	$28M
Other Income/Expenses	$0
INCOME BEFORE TAX	$104M
Income Tax Expense	$36M
Net Income from Continuing Ops	$67M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$67M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$67M
D&A	$16M
EBIT	$104M
EBITDA	$120M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$368M
Cost of Revenue	$78M
GROSS PROFIT	$290M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$95M
SG&A Expenses	$100M
Other Expenses	$86M
Operating Expenses	$187M
Cost & Expenses	$264M
OPERATING INCOME	$104M
Interest Income	$281M
Interest Expense	$28M
Other Income/Expenses	$0
INCOME BEFORE TAX	$104M
Income Tax Expense	$36M
Net Income from Continuing Ops	$67M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$67M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$67M
D&A	$16M
EBIT	$104M
EBITDA	$120M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$67M
Depreciation & Amortization	$16M
Stock-Based Compensation	$4M
Deferred Income Tax	-$14M
Other Non-Cash Items	$63M
Change in Working Capital	$76M
OPERATING CASH FLOW	$212M
Capital Expenditure	-$26M
Acquisitions (Net)	$0
Purchases of Investments	-$1.0B
Sales/Maturities of Investments	$664M
Other Investing Activities	$402M
NET CASH FROM INVESTING	$10M
Net Debt Issuance	$524M
Common Stock Repurchased	-$7M
Common Dividends Paid	-$68M
Other Financing Activities	-$686M
NET CASH FROM FINANCING	-$237M
FREE CASH FLOW	$186M
Net Change in Cash	-$15M

Balance Sheet

Item	Amount
Cash & Equivalents	$159M
Short-Term Investments	$1.0B
Net Receivables	$244M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$147M
Goodwill	$95M
Intangible Assets	$8M
Long-Term Investments	$4.7B
Tax Assets	$0
Other Non-Current Assets	$120M
TOTAL NON-CURRENT ASSETS	$5.1B
TOTAL ASSETS	$6.5B
Account Payables	$131M
Short-Term Debt	$690M
Deferred Revenue	$0
Other Current Liabilities	$5.0B
TOTAL CURRENT LIABILITIES	$5.8B
Long-Term Debt	$10M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$10M
TOTAL LIABILITIES	$5.8B
Common Stock	$579M
Additional Paid-In Capital	$0
Retained Earnings	$330M
Treasury Stock	-$180M
Accum. Other Comp. Income	-$19M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$710M
Minority Interest	$0
TOTAL EQUITY	$710M
TOTAL LIABILITIES & EQUITY	$6.5B
Total Debt	$700M
Net Debt	$541M