FFBC FY 2014 Earnings Report — First Financial Bancorp. Revenue & Financial Results | Market Cap Arena

First Financial Bancorp.FFBC

FY 2014 Earnings

Reported February 24, 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	$311M	—	$315M	—	-1.2%
Op. Income	$95M	—	$68M	—	40.6%
Gross Margin	93.3%	—	91.8%	—	1.5pp
Net Margin	20.9%	—	15.3%	—	5.5pp
EPS (Diluted)	$1.09	—	$0.83	—	31.3%
Free Cash Flow	$46M	—	$157M	—	-70.7%

Revenue Flow

Item	Amount
REVENUE	$311M
Cost of Revenue	$21M
GROSS PROFIT	$291M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$127M
SG&A Expenses	$131M
Other Expenses	$65M
Operating Expenses	$196M
Cost & Expenses	$216M
OPERATING INCOME	$95M
Interest Income	$248M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$95M
Income Tax Expense	$30M
Net Income from Continuing Ops	$65M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$65M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$65M
D&A	$13M
EBIT	$95M
EBITDA	$108M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$311M
Cost of Revenue	$21M
GROSS PROFIT	$291M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$127M
SG&A Expenses	$131M
Other Expenses	$65M
Operating Expenses	$196M
Cost & Expenses	$216M
OPERATING INCOME	$95M
Interest Income	$248M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$95M
Income Tax Expense	$30M
Net Income from Continuing Ops	$65M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$65M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$65M
D&A	$13M
EBIT	$95M
EBITDA	$108M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$65M
Depreciation & Amortization	$13M
Stock-Based Compensation	$4M
Deferred Income Tax	-$22M
Other Non-Cash Items	$3M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$57M
Capital Expenditure	-$11M
Acquisitions (Net)	$34M
Purchases of Investments	-$288M
Sales/Maturities of Investments	$373M
Other Investing Activities	-$193M
NET CASH FROM INVESTING	-$84M
Net Debt Issuance	-$195M
Common Stock Repurchased	-$697.0K
Common Dividends Paid	-$35M
Other Financing Activities	$251M
NET CASH FROM FINANCING	$20M
FREE CASH FLOW	$46M
Net Change in Cash	-$7M

Balance Sheet

Item	Amount
Cash & Equivalents	$133M
Short-Term Investments	$840M
Net Receivables	$78M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$141M
Goodwill	$138M
Intangible Assets	$8M
Long-Term Investments	$5.6B
Tax Assets	$0
Other Non-Current Assets	$301M
TOTAL NON-CURRENT ASSETS	$6.2B
TOTAL ASSETS	$7.2B
Account Payables	$68M
Short-Term Debt	$686M
Deferred Revenue	$0
Other Current Liabilities	$5.7B
TOTAL CURRENT LIABILITIES	$6.4B
Long-Term Debt	$23M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$23M
TOTAL LIABILITIES	$6.4B
Common Stock	$575M
Additional Paid-In Capital	$0
Retained Earnings	$353M
Treasury Stock	-$122M
Accum. Other Comp. Income	-$21M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$784M
Minority Interest	$0
TOTAL EQUITY	$784M
TOTAL LIABILITIES & EQUITY	$7.2B
Total Debt	$710M
Net Debt	$577M