FLG FY 2008 Earnings Report — Flagstar Financial, Inc. Revenue & Financial Results | Market Cap Arena

Flagstar Financial, Inc.FLG

FY 2008 Earnings

Reported December 31, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$1.6B	—	$1.6B	—	-0.7%
Op. Income	$54M	—	$402M	—	-86.6%
Gross Margin	41.6%	—	41.2%	—	0.4pp
Net Margin	4.9%	—	17.3%	—	-12.4pp
EPS (Diluted)	$0.69	—	$2.69	—	-74.3%
Free Cash Flow	$222M	—	$287M	—	-22.7%

Revenue Flow

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$937M
GROSS PROFIT	$666M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$250M
SG&A Expenses	$250M
Other Expenses	$362M
Operating Expenses	$613M
Cost & Expenses	$1.5B
OPERATING INCOME	$54M
Interest Income	$1.6B
Interest Expense	$930M
Other Income/Expenses	$0
INCOME BEFORE TAX	$54M
Income Tax Expense	-$24M
Net Income from Continuing Ops	$78M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$78M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$77M
D&A	$43M
EBIT	$54M
EBITDA	$97M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$937M
GROSS PROFIT	$666M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$250M
SG&A Expenses	$250M
Other Expenses	$362M
Operating Expenses	$613M
Cost & Expenses	$1.5B
OPERATING INCOME	$54M
Interest Income	$1.6B
Interest Expense	$930M
Other Income/Expenses	$0
INCOME BEFORE TAX	$54M
Income Tax Expense	-$24M
Net Income from Continuing Ops	$78M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$78M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$77M
D&A	$43M
EBIT	$54M
EBITDA	$97M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$78M
Depreciation & Amortization	$43M
Stock-Based Compensation	$14M
Deferred Income Tax	-$31M
Other Non-Cash Items	$175M
Change in Working Capital	-$34M
OPERATING CASH FLOW	$245M
Capital Expenditure	-$23M
Acquisitions (Net)	$0
Purchases of Investments	-$2.7B
Sales/Maturities of Investments	$2.5B
Other Investing Activities	-$1.9B
NET CASH FROM INVESTING	-$2.1B
Net Debt Issuance	$581M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$334M
Other Financing Activities	$1.2B
NET CASH FROM FINANCING	$1.7B
FREE CASH FLOW	$222M
Net Change in Cash	-$133M

Balance Sheet

Item	Amount
Cash & Equivalents	$203M
Short-Term Investments	$1.0B
Net Receivables	$1M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$218M
Goodwill	$2.4B
Intangible Assets	$88M
Long-Term Investments	$27.0B
Tax Assets	$0
Other Non-Current Assets	$1.5B
TOTAL NON-CURRENT ASSETS	$31.3B
TOTAL ASSETS	$32.5B
Account Payables	$0
Short-Term Debt	$4.6B
Deferred Revenue	$0
Other Current Liabilities	$14.4B
TOTAL CURRENT LIABILITIES	$19.0B
Long-Term Debt	$8.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$375M
TOTAL NON-CURRENT LIABILITIES	$9.2B
TOTAL LIABILITIES	$28.2B
Common Stock	$3M
Additional Paid-In Capital	$4.2B
Retained Earnings	$124M
Treasury Stock	$0
Accum. Other Comp. Income	-$87M
Other Equity	-$2M
TOTAL STOCKHOLDERS' EQUITY	$4.2B
Minority Interest	$0
TOTAL EQUITY	$4.2B
TOTAL LIABILITIES & EQUITY	$32.5B
Total Debt	$13.5B
Net Debt	$13.3B