FIBK FY 2010 Earnings Report — First Interstate BancSystem, Inc. Revenue & Financial Results | Market Cap Arena

First Interstate BancSystem, Inc.FIBK

FY 2010 Earnings

Reported February 28, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$405M	—	$429M	—	-5.4%
Op. Income	$54M	—	$81M	—	-32.6%
Gross Margin	67.9%	—	69.6%	—	-1.7pp
Net Margin	9.2%	—	12.6%	—	-3.4pp
EPS (Diluted)	$0.85	—	$1.59	—	-46.5%
Free Cash Flow	$101M	—	$82M	—	23.8%

Revenue Flow

Item	Amount
REVENUE	$405M
Cost of Revenue	$130M
GROSS PROFIT	$275M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$123M
SG&A Expenses	$123M
Other Expenses	$98M
Operating Expenses	$221M
Cost & Expenses	$351M
OPERATING INCOME	$54M
Interest Income	$315M
Interest Expense	$63M
Other Income/Expenses	$0
INCOME BEFORE TAX	$54M
Income Tax Expense	$17M
Net Income from Continuing Ops	$37M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$37M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$34M
D&A	$20M
EBIT	$54M
EBITDA	$75M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$405M
Cost of Revenue	$130M
GROSS PROFIT	$275M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$123M
SG&A Expenses	$123M
Other Expenses	$98M
Operating Expenses	$221M
Cost & Expenses	$351M
OPERATING INCOME	$54M
Interest Income	$315M
Interest Expense	$63M
Other Income/Expenses	$0
INCOME BEFORE TAX	$54M
Income Tax Expense	$17M
Net Income from Continuing Ops	$37M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$37M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$34M
D&A	$20M
EBIT	$54M
EBITDA	$75M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$37M
Depreciation & Amortization	$20M
Stock-Based Compensation	$2M
Deferred Income Tax	-$17M
Other Non-Cash Items	$65M
Change in Working Capital	$2M
OPERATING CASH FLOW	$109M
Capital Expenditure	-$8M
Acquisitions (Net)	$0
Purchases of Investments	-$1.4B
Sales/Maturities of Investments	$849M
Other Investing Activities	$122M
NET CASH FROM INVESTING	-$388M
Net Debt Issuance	-$36M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$18M
Other Financing Activities	$234M
NET CASH FROM FINANCING	$340M
FREE CASH FLOW	$101M
Net Change in Cash	$62M

Balance Sheet

Item	Amount
Cash & Equivalents	$684M
Short-Term Investments	$0
Net Receivables	$34M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$717M
PP&E (Net)	$188M
Goodwill	$184M
Intangible Assets	$22M
Long-Term Investments	$6.2B
Tax Assets	$18M
Other Non-Current Assets	$191M
TOTAL NON-CURRENT ASSETS	$6.8B
TOTAL ASSETS	$7.5B
Account Payables	$13M
Short-Term Debt	$625M
Deferred Revenue	$0
Other Current Liabilities	$5.9B
TOTAL CURRENT LIABILITIES	$6.6B
Long-Term Debt	$161M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$161M
TOTAL LIABILITIES	$6.8B
Common Stock	$0
Additional Paid-In Capital	$264M
Retained Earnings	$413M
Treasury Stock	$0
Accum. Other Comp. Income	$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$737M
Minority Interest	$0
TOTAL EQUITY	$737M
TOTAL LIABILITIES & EQUITY	$7.5B
Total Debt	$786M
Net Debt	$103M