ONB FY 2008 Earnings Report — Old National Bancorp Revenue & Financial Results | Market Cap Arena

Old National BancorpONB

FY 2008 Earnings

Reported February 27, 2009

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	$559M	—	$617M	—	-9.2%
Op. Income	$62M	—	$92M	—	-33.2%
Gross Margin	64.1%	—	60.0%	—	4.1pp
Net Margin	11.2%	—	12.1%	—	-1.0pp
EPS (Diluted)	$0.95	—	$1.14	—	-16.7%
Free Cash Flow	$43M	—	$65M	—	-34.3%

Revenue Flow

Item	Amount
REVENUE	$559M
Cost of Revenue	$201M
GROSS PROFIT	$359M
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$199M
SG&A Expenses	$209M
Other Expenses	$87M
Operating Expenses	$297M
Cost & Expenses	$498M
OPERATING INCOME	$62M
Interest Income	$393M
Interest Expense	$149M
Other Income/Expenses	$0
INCOME BEFORE TAX	$62M
Income Tax Expense	-$877.0K
Net Income from Continuing Ops	$62M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$62M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$62M
D&A	$10M
EBIT	$62M
EBITDA	$72M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$559M
Cost of Revenue	$201M
GROSS PROFIT	$359M
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$199M
SG&A Expenses	$209M
Other Expenses	$87M
Operating Expenses	$297M
Cost & Expenses	$498M
OPERATING INCOME	$62M
Interest Income	$393M
Interest Expense	$149M
Other Income/Expenses	$0
INCOME BEFORE TAX	$62M
Income Tax Expense	-$877.0K
Net Income from Continuing Ops	$62M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$62M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$62M
D&A	$10M
EBIT	$62M
EBITDA	$72M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$62M
Depreciation & Amortization	$10M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$25M
Change in Working Capital	-$44M
OPERATING CASH FLOW	$55M
Capital Expenditure	-$12M
Acquisitions (Net)	$0
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$1.1B
Other Investing Activities	-$95M
NET CASH FROM INVESTING	-$113M
Net Debt Issuance	$187M
Common Stock Repurchased	-$457.0K
Common Dividends Paid	-$61M
Other Financing Activities	-$238M
NET CASH FROM FINANCING	-$12M
FREE CASH FLOW	$43M
Net Change in Cash	-$71M

Balance Sheet

Item	Amount
Cash & Equivalents	$163M
Short-Term Investments	$0
Net Receivables	$49M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$212M
PP&E (Net)	$45M
Goodwill	$159M
Intangible Assets	$28M
Long-Term Investments	$6.9B
Tax Assets	$0
Other Non-Current Assets	$493M
TOTAL NON-CURRENT ASSETS	$7.7B
TOTAL ASSETS	$7.9B
Account Payables	$0
Short-Term Debt	$650M
Deferred Revenue	$0
Other Current Liabilities	$5.4B
TOTAL CURRENT LIABILITIES	$6.3B
Long-Term Debt	$835M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$835M
TOTAL LIABILITIES	$7.1B
Common Stock	$66M
Additional Paid-In Capital	$570M
Retained Earnings	$51M
Treasury Stock	$0
Accum. Other Comp. Income	-$54M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$731M
Minority Interest	$0
TOTAL EQUITY	$731M
TOTAL LIABILITIES & EQUITY	$7.9B
Total Debt	$1.5B
Net Debt	$1.3B