FFIN FY 2007 Earnings Report — First Financial Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

First Financial Bankshares, Inc.FFIN

FY 2007 Earnings

Reported February 22, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$218M	—	$199M	—	9.3%
Op. Income	$70M	—	$65M	—	7.0%
Gross Margin	72.0%	—	74.5%	—	-2.5pp
Net Margin	22.7%	—	23.1%	—	-0.4pp
EPS (Diluted)	$0.40	—	$0.37	—	8.1%
Free Cash Flow	$46M	—	$40M	—	14.8%

Revenue Flow

Item	Amount
REVENUE	$218M
Cost of Revenue	$61M
GROSS PROFIT	$157M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$47M
SG&A Expenses	$47M
Other Expenses	$40M
Operating Expenses	$87M
Cost & Expenses	$148M
OPERATING INCOME	$70M
Interest Income	$169M
Interest Expense	$59M
Other Income/Expenses	$0
INCOME BEFORE TAX	$70M
Income Tax Expense	$20M
Net Income from Continuing Ops	$49M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$49M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$49M
D&A	$7M
EBIT	$70M
EBITDA	$77M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$218M
Cost of Revenue	$61M
GROSS PROFIT	$157M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$47M
SG&A Expenses	$47M
Other Expenses	$40M
Operating Expenses	$87M
Cost & Expenses	$148M
OPERATING INCOME	$70M
Interest Income	$169M
Interest Expense	$59M
Other Income/Expenses	$0
INCOME BEFORE TAX	$70M
Income Tax Expense	$20M
Net Income from Continuing Ops	$49M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$49M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$49M
D&A	$7M
EBIT	$70M
EBITDA	$77M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$49M
Depreciation & Amortization	$7M
Stock-Based Compensation	$0
Deferred Income Tax	$464.4K
Other Non-Cash Items	$228.5K
Change in Working Capital	-$3M
OPERATING CASH FLOW	$55M
Capital Expenditure	-$8M
Acquisitions (Net)	$0
Purchases of Investments	-$900M
Sales/Maturities of Investments	$921M
Other Investing Activities	-$157M
NET CASH FROM INVESTING	-$144M
Net Debt Issuance	$23M
Common Stock Repurchased	$0
Common Dividends Paid	-$25M
Other Financing Activities	$162M
NET CASH FROM FINANCING	$161M
FREE CASH FLOW	$46M
Net Change in Cash	$72M

Balance Sheet

Item	Amount
Cash & Equivalents	$165M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$165M
PP&E (Net)	$62M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$2.6B
Tax Assets	$0
Other Non-Current Assets	$139M
TOTAL NON-CURRENT ASSETS	$2.9B
TOTAL ASSETS	$3.1B
Account Payables	$0
Short-Term Debt	$166M
Deferred Revenue	$0
Other Current Liabilities	$2.5B
TOTAL CURRENT LIABILITIES	$2.7B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$22M
TOTAL NON-CURRENT LIABILITIES	$22M
TOTAL LIABILITIES	$2.7B
Common Stock	$207.7K
Additional Paid-In Capital	$267M
Retained Earnings	$64M
Treasury Stock	-$3M
Accum. Other Comp. Income	$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$335M
Minority Interest	$0
TOTAL EQUITY	$335M
TOTAL LIABILITIES & EQUITY	$3.1B
Total Debt	$166M
Net Debt	$828.0K