FHB FY 2005 Earnings Report — First Hawaiian, Inc. Revenue & Financial Results | Market Cap Arena

First Hawaiian, Inc.FHB

FY 2005 Earnings

Reported March 29, 2006

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2005	Prior Q	FY 2004	QoQ Change	YoY Change
Revenue	$2.5B	—	$1.8B	—	40.4%
Op. Income	$22M	—	$17M	—	30.4%
Gross Margin	100.0%	—	75.2%	—	24.8pp
Net Margin	23.6%	—	26.5%	—	-3.0pp
EPS (Diluted)	$4.58	—	$3.67	—	24.8%
Free Cash Flow	$518M	—	$305M	—	69.6%

Revenue Flow

Item	Amount
REVENUE	$2.5B
Cost of Revenue	$0
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$29M
General & Administrative	$0
SG&A Expenses	$29M
Other Expenses	$2.5B
Operating Expenses	$2.5B
Cost & Expenses	$2.5B
OPERATING INCOME	$22M
Interest Income	$534M
Interest Expense	-$880M
Other Income/Expenses	$915M
INCOME BEFORE TAX	$937M
Income Tax Expense	$347M
Net Income from Continuing Ops	$590M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$590M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$590M
D&A	$128M
EBIT	$57M
EBITDA	$186M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$2.5B
Cost of Revenue	$0
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$29M
General & Administrative	$0
SG&A Expenses	$29M
Other Expenses	$2.5B
Operating Expenses	$2.5B
Cost & Expenses	$2.5B
OPERATING INCOME	$22M
Interest Income	$534M
Interest Expense	-$880M
Other Income/Expenses	$915M
INCOME BEFORE TAX	$937M
Income Tax Expense	$347M
Net Income from Continuing Ops	$590M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$590M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$590M
D&A	$128M
EBIT	$57M
EBITDA	$186M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$590M
Depreciation & Amortization	$128M
Stock-Based Compensation	$0
Deferred Income Tax	-$5M
Other Non-Cash Items	$11.5B
Change in Working Capital	-$11.7B
OPERATING CASH FLOW	$518M
Capital Expenditure	$0
Acquisitions (Net)	-$1.2B
Purchases of Investments	-$736M
Sales/Maturities of Investments	$0
Other Investing Activities	-$4.4B
NET CASH FROM INVESTING	-$6.3B
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$6.5B
NET CASH FROM FINANCING	$6.5B
FREE CASH FLOW	$518M
Net Change in Cash	$712M

Balance Sheet

Item	Amount
Cash & Equivalents	$152M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$152M
PP&E (Net)	$0
Goodwill	$910M
Intangible Assets	$95M
Long-Term Investments	$0
Tax Assets	$17M
Other Non-Current Assets	-$17M
TOTAL NON-CURRENT ASSETS	$1.0B
TOTAL ASSETS	$10.7B
Account Payables	$0
Short-Term Debt	$845M
Deferred Revenue	$17M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$862M
Long-Term Debt	$3.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$3.1B
TOTAL LIABILITIES	$4.0B
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$1.9B
Treasury Stock	$0
Accum. Other Comp. Income	-$95M
Other Equity	$9.0B
TOTAL STOCKHOLDERS' EQUITY	$10.8B
Minority Interest	$0
TOTAL EQUITY	$10.8B
TOTAL LIABILITIES & EQUITY	$1.2B
Total Debt	$3.9B
Net Debt	$3.8B