FIBK FY 2006 Earnings Report — First Interstate BancSystem, Inc. Revenue & Financial Results | Market Cap Arena

First Interstate BancSystem, Inc.FIBK

FY 2006 Earnings

Reported March 14, 2007

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2006	Prior Q	FY 2005	QoQ Change	YoY Change
Revenue	$376M	—	—	—	—
Op. Income	$117M	—	—	—	—
Gross Margin	69.7%	—	—	—	—
Net Margin	20.1%	—	—	—	—
EPS (Diluted)	$2.39	—	—	—	—
Free Cash Flow	$60M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$376M
Cost of Revenue	$114M
GROSS PROFIT	$262M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$89M
SG&A Expenses	$89M
Other Expenses	$56M
Operating Expenses	$145M
Cost & Expenses	$259M
OPERATING INCOME	$117M
Interest Income	$293M
Interest Expense	$106M
Other Income/Expenses	$0
INCOME BEFORE TAX	$117M
Income Tax Expense	$41M
Net Income from Continuing Ops	$76M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$76M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$76M
D&A	$10M
EBIT	$117M
EBITDA	$127M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$376M
Cost of Revenue	$114M
GROSS PROFIT	$262M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$89M
SG&A Expenses	$89M
Other Expenses	$56M
Operating Expenses	$145M
Cost & Expenses	$259M
OPERATING INCOME	$117M
Interest Income	$293M
Interest Expense	$106M
Other Income/Expenses	$0
INCOME BEFORE TAX	$117M
Income Tax Expense	$41M
Net Income from Continuing Ops	$76M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$76M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$76M
D&A	$10M
EBIT	$117M
EBITDA	$127M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$76M
Depreciation & Amortization	$10M
Stock-Based Compensation	$1M
Deferred Income Tax	-$6M
Other Non-Cash Items	-$13M
Change in Working Capital	-$6M
OPERATING CASH FLOW	$62M
Capital Expenditure	-$3M
Acquisitions (Net)	$14M
Purchases of Investments	-$4.7B
Sales/Maturities of Investments	$4.6B
Other Investing Activities	-$286M
NET CASH FROM INVESTING	-$370M
Net Debt Issuance	-$35M
Common Stock Repurchased	-$10M
Common Dividends Paid	-$18M
Other Financing Activities	$377M
NET CASH FROM FINANCING	$323M
FREE CASH FLOW	$60M
Net Change in Cash	$15M

Balance Sheet

Item	Amount
Cash & Equivalents	$200M
Short-Term Investments	$0
Net Receivables	$31M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$231M
PP&E (Net)	$120M
Goodwill	$37M
Intangible Assets	$23M
Long-Term Investments	$4.4B
Tax Assets	$8M
Other Non-Current Assets	$166M
TOTAL NON-CURRENT ASSETS	$4.7B
TOTAL ASSETS	$5.0B
Account Payables	$19M
Short-Term Debt	$737M
Deferred Revenue	$0
Other Current Liabilities	$3.7B
TOTAL CURRENT LIABILITIES	$4.5B
Long-Term Debt	$63M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$63M
TOTAL LIABILITIES	$4.6B
Common Stock	$0
Additional Paid-In Capital	$45M
Retained Earnings	$372M
Treasury Stock	$0
Accum. Other Comp. Income	-$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$410M
Minority Interest	$0
TOTAL EQUITY	$410M
TOTAL LIABILITIES & EQUITY	$5.0B
Total Debt	$800M
Net Debt	$600M