MTB-PJ FY 2009 Earnings Report — M&T Bank Corporation Revenue & Financial Results | Market Cap Arena

M&T Bank CorporationMTB-PJ

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	$3.8B	—	$4.3B	—	-10.7%
Op. Income	$519M	—	$740M	—	-29.8%
Gross Margin	66.5%	—	58.9%	—	7.6pp
Net Margin	10.0%	—	13.1%	—	-3.1pp
EPS (Diluted)	$2.89	—	$5.01	—	-42.3%
Free Cash Flow	$1.1B	—	$1.5B	—	-26.2%

Revenue Flow

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$908M
Operating Expenses	$2.0B
Cost & Expenses	$3.3B
OPERATING INCOME	$519M
Interest Income	$2.7B
Interest Expense	$669M
Other Income/Expenses	$0
INCOME BEFORE TAX	$519M
Income Tax Expense	$139M
Net Income from Continuing Ops	$380M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$380M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$332M
D&A	$191M
EBIT	$519M
EBITDA	$710M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$908M
Operating Expenses	$2.0B
Cost & Expenses	$3.3B
OPERATING INCOME	$519M
Interest Income	$2.7B
Interest Expense	$669M
Other Income/Expenses	$0
INCOME BEFORE TAX	$519M
Income Tax Expense	$139M
Net Income from Continuing Ops	$380M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$380M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$332M
D&A	$191M
EBIT	$519M
EBITDA	$710M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$380M
Depreciation & Amortization	$191M
Stock-Based Compensation	$0
Deferred Income Tax	$83M
Other Non-Cash Items	$775M
Change in Working Capital	-$239M
OPERATING CASH FLOW	$1.2B
Capital Expenditure	-$59M
Acquisitions (Net)	$203M
Purchases of Investments	-$710M
Sales/Maturities of Investments	$2.6B
Other Investing Activities	$518M
NET CASH FROM INVESTING	$2.5B
Net Debt Issuance	-$3.1B
Common Stock Repurchased	-$1.5B
Common Dividends Paid	-$326M
Other Financing Activities	-$520M
NET CASH FROM FINANCING	-$4.0B
FREE CASH FLOW	$1.1B
Net Change in Cash	-$322M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.4B
Short-Term Investments	$6.7B
Net Receivables	$1.9B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$9.9B
PP&E (Net)	$436M
Goodwill	$3.5B
Intangible Assets	$182M
Long-Term Investments	$50.3B
Tax Assets	$0
Other Non-Current Assets	$4.5B
TOTAL NON-CURRENT ASSETS	$58.9B
TOTAL ASSETS	$68.9B
Account Payables	$995M
Short-Term Debt	$4.1B
Deferred Revenue	$0
Other Current Liabilities	$47.4B
TOTAL CURRENT LIABILITIES	$53.5B
Long-Term Debt	$8.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$995M
TOTAL NON-CURRENT LIABILITIES	$7.6B
TOTAL LIABILITIES	$61.1B
Common Stock	$65M
Additional Paid-In Capital	$2.4B
Retained Earnings	$5.1B
Treasury Stock	-$226M
Accum. Other Comp. Income	-$336M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.8B
Minority Interest	$0
TOTAL EQUITY	$7.8B
TOTAL LIABILITIES & EQUITY	$68.9B
Total Debt	$12.7B
Net Debt	$11.3B