FFBC FY 2013 Earnings Report — First Financial Bancorp. Revenue & Financial Results | Market Cap Arena

First Financial Bancorp.FFBC

FY 2013 Earnings

Reported February 25, 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	$315M	—	$368M	—	-14.4%
Op. Income	$68M	—	$104M	—	-34.9%
Gross Margin	91.8%	—	78.9%	—	12.9pp
Net Margin	15.3%	—	18.3%	—	-2.9pp
EPS (Diluted)	$0.83	—	$1.14	—	-27.2%
Free Cash Flow	$157M	—	$186M	—	-15.7%

Revenue Flow

Item	Amount
REVENUE	$315M
Cost of Revenue	$26M
GROSS PROFIT	$289M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$144M
SG&A Expenses	$148M
Other Expenses	$73M
Operating Expenses	$222M
Cost & Expenses	$248M
OPERATING INCOME	$68M
Interest Income	$245M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$68M
Income Tax Expense	$19M
Net Income from Continuing Ops	$48M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$48M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$48M
D&A	$14M
EBIT	$68M
EBITDA	$82M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$315M
Cost of Revenue	$26M
GROSS PROFIT	$289M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$144M
SG&A Expenses	$148M
Other Expenses	$73M
Operating Expenses	$222M
Cost & Expenses	$248M
OPERATING INCOME	$68M
Interest Income	$245M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$68M
Income Tax Expense	$19M
Net Income from Continuing Ops	$48M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$48M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$48M
D&A	$14M
EBIT	$68M
EBITDA	$82M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$48M
Depreciation & Amortization	$14M
Stock-Based Compensation	$4M
Deferred Income Tax	-$25M
Other Non-Cash Items	$29M
Change in Working Capital	$94M
OPERATING CASH FLOW	$164M
Capital Expenditure	-$7M
Acquisitions (Net)	$0
Purchases of Investments	-$448M
Sales/Maturities of Investments	$437M
Other Investing Activities	-$83M
NET CASH FROM INVESTING	-$100M
Net Debt Issuance	$110M
Common Stock Repurchased	-$12M
Common Dividends Paid	-$61M
Other Financing Activities	-$118M
NET CASH FROM FINANCING	-$81M
FREE CASH FLOW	$157M
Net Change in Cash	-$17M

Balance Sheet

Item	Amount
Cash & Equivalents	$143M
Short-Term Investments	$914M
Net Receivables	$283M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$137M
Goodwill	$95M
Intangible Assets	$6M
Long-Term Investments	$4.8B
Tax Assets	$0
Other Non-Current Assets	$45M
TOTAL NON-CURRENT ASSETS	$5.1B
TOTAL ASSETS	$6.4B
Account Payables	$88M
Short-Term Debt	$801M
Deferred Revenue	$0
Other Current Liabilities	$4.8B
TOTAL CURRENT LIABILITIES	$5.7B
Long-Term Debt	$8M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$8M
TOTAL LIABILITIES	$5.7B
Common Stock	$577M
Additional Paid-In Capital	$0
Retained Earnings	$324M
Treasury Stock	-$188M
Accum. Other Comp. Income	-$31M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$682M
Minority Interest	$0
TOTAL EQUITY	$682M
TOTAL LIABILITIES & EQUITY	$6.4B
Total Debt	$810M
Net Debt	$666M