MTB-PJ FY 2007 Earnings Report — M&T Bank Corporation Revenue & Financial Results | Market Cap Arena

M&T Bank CorporationMTB-PJ

FY 2007 Earnings

Reported February 21, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$4.5B	—	$4.4B	—	2.5%
Op. Income	$964M	—	$1.2B	—	-21.8%
Gross Margin	57.8%	—	63.8%	—	-6.1pp
Net Margin	14.6%	—	19.2%	—	-4.6pp
EPS (Diluted)	$5.95	—	$7.37	—	-19.3%
Free Cash Flow	$1.2B	—	$448M	—	173.5%

Revenue Flow

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$1.9B
GROSS PROFIT	$2.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$913M
SG&A Expenses	$913M
Other Expenses	$706M
Operating Expenses	$1.6B
Cost & Expenses	$3.5B
OPERATING INCOME	$964M
Interest Income	$3.5B
Interest Expense	$1.7B
Other Income/Expenses	$0
INCOME BEFORE TAX	$964M
Income Tax Expense	$309M
Net Income from Continuing Ops	$654M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$654M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$654M
D&A	$178M
EBIT	$964M
EBITDA	$1.1B
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$1.9B
GROSS PROFIT	$2.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$913M
SG&A Expenses	$913M
Other Expenses	$706M
Operating Expenses	$1.6B
Cost & Expenses	$3.5B
OPERATING INCOME	$964M
Interest Income	$3.5B
Interest Expense	$1.7B
Other Income/Expenses	$0
INCOME BEFORE TAX	$964M
Income Tax Expense	$309M
Net Income from Continuing Ops	$654M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$654M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$654M
D&A	$178M
EBIT	$964M
EBITDA	$1.1B
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$654M
Depreciation & Amortization	$178M
Stock-Based Compensation	$0
Deferred Income Tax	-$45M
Other Non-Cash Items	$326M
Change in Working Capital	$221M
OPERATING CASH FLOW	$1.3B
Capital Expenditure	-$110M
Acquisitions (Net)	-$239M
Purchases of Investments	-$2.4B
Sales/Maturities of Investments	$2.4B
Other Investing Activities	-$4.5B
NET CASH FROM INVESTING	-$4.8B
Net Debt Issuance	$5.3B
Common Stock Repurchased	-$508M
Common Dividends Paid	-$282M
Other Financing Activities	-$966M
NET CASH FROM FINANCING	$3.6B
FREE CASH FLOW	$1.2B
Net Change in Cash	$143M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.7B
Short-Term Investments	$8.4B
Net Receivables	$1.6B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$11.7B
PP&E (Net)	$371M
Goodwill	$3.2B
Intangible Assets	$249M
Long-Term Investments	$46.2B
Tax Assets	$0
Other Non-Current Assets	$3.1B
TOTAL NON-CURRENT ASSETS	$53.1B
TOTAL ASSETS	$64.9B
Account Payables	$984M
Short-Term Debt	$7.4B
Deferred Revenue	$0
Other Current Liabilities	$41.3B
TOTAL CURRENT LIABILITIES	$50.7B
Long-Term Debt	$8.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$984M
TOTAL NON-CURRENT LIABILITIES	$7.7B
TOTAL LIABILITIES	$58.4B
Common Stock	$65M
Additional Paid-In Capital	$2.8B
Retained Earnings	$4.8B
Treasury Stock	-$1.1B
Accum. Other Comp. Income	-$115M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.5B
Minority Interest	$0
TOTAL EQUITY	$6.5B
TOTAL LIABILITIES & EQUITY	$64.9B
Total Debt	$16.1B
Net Debt	$14.4B