ONB FY 2010 Earnings Report — Old National Bancorp Revenue & Financial Results | Market Cap Arena

Old National BancorpONB

FY 2010 Earnings

Reported February 25, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$463M	—	$504M	—	-8.1%
Op. Income	$43M	—	-$7M	—	689.4%
Gross Margin	76.4%	—	65.8%	—	10.6pp
Net Margin	8.3%	—	2.7%	—	5.5pp
EPS (Diluted)	$0.44	—	$0.14	—	214.3%
Free Cash Flow	$89M	—	$26M	—	237.9%

Revenue Flow

Item	Amount
REVENUE	$463M
Cost of Revenue	$109M
GROSS PROFIT	$354M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$213M
SG&A Expenses	$219M
Other Expenses	$92M
Operating Expenses	$310M
Cost & Expenses	$420M
OPERATING INCOME	$43M
Interest Income	$297M
Interest Expense	$78M
Other Income/Expenses	$0
INCOME BEFORE TAX	$43M
Income Tax Expense	$5M
Net Income from Continuing Ops	$38M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$38M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$38M
D&A	$15M
EBIT	$43M
EBITDA	$59M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$463M
Cost of Revenue	$109M
GROSS PROFIT	$354M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$213M
SG&A Expenses	$219M
Other Expenses	$92M
Operating Expenses	$310M
Cost & Expenses	$420M
OPERATING INCOME	$43M
Interest Income	$297M
Interest Expense	$78M
Other Income/Expenses	$0
INCOME BEFORE TAX	$43M
Income Tax Expense	$5M
Net Income from Continuing Ops	$38M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$38M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$38M
D&A	$15M
EBIT	$43M
EBITDA	$59M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$38M
Depreciation & Amortization	$15M
Stock-Based Compensation	$2M
Deferred Income Tax	$0
Other Non-Cash Items	$37M
Change in Working Capital	$4M
OPERATING CASH FLOW	$97M
Capital Expenditure	-$7M
Acquisitions (Net)	$0
Purchases of Investments	-$1.4B
Sales/Maturities of Investments	$1.7B
Other Investing Activities	$127M
NET CASH FROM INVESTING	$437M
Net Debt Issuance	-$313M
Common Stock Repurchased	-$705.0K
Common Dividends Paid	-$24M
Other Financing Activities	-$441M
NET CASH FROM FINANCING	-$779M
FREE CASH FLOW	$89M
Net Change in Cash	-$246M

Balance Sheet

Item	Amount
Cash & Equivalents	$252M
Short-Term Investments	$0
Net Receivables	$43M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$295M
PP&E (Net)	$49M
Goodwill	$168M
Intangible Assets	$26M
Long-Term Investments	$6.3B
Tax Assets	$0
Other Non-Current Assets	$453M
TOTAL NON-CURRENT ASSETS	$7.0B
TOTAL ASSETS	$7.3B
Account Payables	$0
Short-Term Debt	$298M
Deferred Revenue	$0
Other Current Liabilities	$5.5B
TOTAL CURRENT LIABILITIES	$6.0B
Long-Term Debt	$422M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$422M
TOTAL LIABILITIES	$6.4B
Common Stock	$87M
Additional Paid-In Capital	$749M
Retained Earnings	$44M
Treasury Stock	$0
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$879M
Minority Interest	$0
TOTAL EQUITY	$879M
TOTAL LIABILITIES & EQUITY	$7.3B
Total Debt	$720M
Net Debt	$469M