OFG FY 2014 Earnings Report — OFG Bancorp Revenue & Financial Results | Market Cap Arena

FY 2014 Earnings

Reported February 26, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$476M	—	$485M	—	-1.9%
Op. Income	$122M	—	$90M	—	36.4%
Gross Margin	71.1%	—	67.7%	—	3.4pp
Net Margin	17.9%	—	20.3%	—	-2.4pp
EPS (Diluted)	$1.50	—	$1.73	—	-13.3%
Free Cash Flow	$167M	—	$165M	—	1.5%

Revenue Flow

Item	Amount
REVENUE	$476M
Cost of Revenue	$137M
GROSS PROFIT	$339M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$95M
SG&A Expenses	$102M
Other Expenses	$114M
Operating Expenses	$216M
Cost & Expenses	$353M
OPERATING INCOME	$122M
Interest Income	$485M
Interest Expense	$77M
Other Income/Expenses	$0
INCOME BEFORE TAX	$122M
Income Tax Expense	$37M
Net Income from Continuing Ops	$85M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$85M
Net Income Deductions	-$7M
BOTTOM LINE NET INCOME	$79M
D&A	$12M
EBIT	$122M
EBITDA	$135M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$476M
Cost of Revenue	$137M
GROSS PROFIT	$339M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$95M
SG&A Expenses	$102M
Other Expenses	$114M
Operating Expenses	$216M
Cost & Expenses	$353M
OPERATING INCOME	$122M
Interest Income	$485M
Interest Expense	$77M
Other Income/Expenses	$0
INCOME BEFORE TAX	$122M
Income Tax Expense	$37M
Net Income from Continuing Ops	$85M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$85M
Net Income Deductions	-$7M
BOTTOM LINE NET INCOME	$79M
D&A	$12M
EBIT	$122M
EBITDA	$135M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$85M
Depreciation & Amortization	$12M
Stock-Based Compensation	$1M
Deferred Income Tax	$24M
Other Non-Cash Items	$77M
Change in Working Capital	-$25M
OPERATING CASH FLOW	$175M
Capital Expenditure	-$8M
Acquisitions (Net)	$0
Purchases of Investments	-$386M
Sales/Maturities of Investments	$768M
Other Investing Activities	$186M
NET CASH FROM INVESTING	$560M
Net Debt Issuance	$2M
Common Stock Repurchased	-$17M
Common Dividends Paid	-$14M
Other Financing Activities	-$739M
NET CASH FROM FINANCING	-$783M
FREE CASH FLOW	$167M
Net Change in Cash	-$48M

Balance Sheet

Item	Amount
Cash & Equivalents	$573M
Short-Term Investments	$1.2B
Net Receivables	$43M
Inventory	-$43M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.8B
PP&E (Net)	$81M
Goodwill	$86M
Intangible Assets	$24M
Long-Term Investments	$5.0B
Tax Assets	$109M
Other Non-Current Assets	$304M
TOTAL NON-CURRENT ASSETS	$5.6B
TOTAL ASSETS	$7.4B
Account Payables	$0
Short-Term Debt	$980M
Deferred Revenue	$0
Other Current Liabilities	$4.9B
TOTAL CURRENT LIABILITIES	$6.0B
Long-Term Debt	$440M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$29M
TOTAL NON-CURRENT LIABILITIES	$469M
TOTAL LIABILITIES	$6.5B
Common Stock	$53M
Additional Paid-In Capital	$539M
Retained Earnings	$181M
Treasury Stock	-$97M
Accum. Other Comp. Income	$90M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$942M
Minority Interest	$0
TOTAL EQUITY	$942M
TOTAL LIABILITIES & EQUITY	$7.4B
Total Debt	$1.4B
Net Debt	$847M