FIBK FY 2009 Earnings Report — First Interstate BancSystem, Inc. Revenue & Financial Results | Market Cap Arena

First Interstate BancSystem, Inc.FIBK

FY 2009 Earnings

Reported February 19, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$429M	—	$457M	—	-6.3%
Op. Income	$81M	—	$108M	—	-25.2%
Gross Margin	69.6%	—	66.4%	—	3.3pp
Net Margin	12.6%	—	15.4%	—	-2.9pp
EPS (Diluted)	$1.59	—	$2.10	—	-24.3%
Free Cash Flow	$82M	—	$77M	—	5.6%

Revenue Flow

Item	Amount
REVENUE	$429M
Cost of Revenue	$130M
GROSS PROFIT	$299M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$126M
SG&A Expenses	$126M
Other Expenses	$92M
Operating Expenses	$218M
Cost & Expenses	$348M
OPERATING INCOME	$81M
Interest Income	$328M
Interest Expense	$85M
Other Income/Expenses	$0
INCOME BEFORE TAX	$81M
Income Tax Expense	$27M
Net Income from Continuing Ops	$54M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$54M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$50M
D&A	$22M
EBIT	$81M
EBITDA	$103M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$429M
Cost of Revenue	$130M
GROSS PROFIT	$299M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$126M
SG&A Expenses	$126M
Other Expenses	$92M
Operating Expenses	$218M
Cost & Expenses	$348M
OPERATING INCOME	$81M
Interest Income	$328M
Interest Expense	$85M
Other Income/Expenses	$0
INCOME BEFORE TAX	$81M
Income Tax Expense	$27M
Net Income from Continuing Ops	$54M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$54M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$50M
D&A	$22M
EBIT	$81M
EBITDA	$103M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$54M
Depreciation & Amortization	$22M
Stock-Based Compensation	$1M
Deferred Income Tax	$6M
Other Non-Cash Items	$25M
Change in Working Capital	-$26M
OPERATING CASH FLOW	$82M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$879M
Sales/Maturities of Investments	$513M
Other Investing Activities	$136M
NET CASH FROM INVESTING	-$230M
Net Debt Issuance	-$85M
Common Stock Repurchased	-$11M
Common Dividends Paid	-$16M
Other Financing Activities	$568M
NET CASH FROM FINANCING	$457M
FREE CASH FLOW	$82M
Net Change in Cash	$309M

Balance Sheet

Item	Amount
Cash & Equivalents	$612M
Short-Term Investments	$0
Net Receivables	$37M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$649M
PP&E (Net)	$196M
Goodwill	$184M
Intangible Assets	$28M
Long-Term Investments	$5.9B
Tax Assets	$0
Other Non-Current Assets	$209M
TOTAL NON-CURRENT ASSETS	$6.5B
TOTAL ASSETS	$7.1B
Account Payables	$18M
Short-Term Debt	$480M
Deferred Revenue	$0
Other Current Liabilities	$5.8B
TOTAL CURRENT LIABILITIES	$6.4B
Long-Term Debt	$197M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$197M
TOTAL LIABILITIES	$6.6B
Common Stock	$0
Additional Paid-In Capital	$112M
Retained Earnings	$397M
Treasury Stock	$0
Accum. Other Comp. Income	$15M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$574M
Minority Interest	$0
TOTAL EQUITY	$574M
TOTAL LIABILITIES & EQUITY	$7.1B
Total Debt	$677M
Net Debt	$65M