PFS FY 2012 Earnings Report — Provident Financial Services, Inc. Revenue & Financial Results | Market Cap Arena

Provident Financial Services, Inc.PFS

FY 2012 Earnings

Reported March 1, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$306M	—	$308M	—	-0.8%
Op. Income	$96M	—	$77M	—	24.5%
Gross Margin	80.1%	—	71.2%	—	8.8pp
Net Margin	22.0%	—	18.6%	—	3.4pp
EPS (Diluted)	$1.18	—	$1.01	—	16.8%
Free Cash Flow	$101M	—	$85M	—	18.0%

Revenue Flow

Item	Amount
REVENUE	$306M
Cost of Revenue	$61M
GROSS PROFIT	$245M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$85M
SG&A Expenses	$89M
Other Expenses	$60M
Operating Expenses	$149M
Cost & Expenses	$210M
OPERATING INCOME	$96M
Interest Income	$262M
Interest Expense	$45M
Other Income/Expenses	$0
INCOME BEFORE TAX	$96M
Income Tax Expense	$29M
Net Income from Continuing Ops	$67M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$67M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$67M
D&A	$9M
EBIT	$96M
EBITDA	$105M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$306M
Cost of Revenue	$61M
GROSS PROFIT	$245M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$85M
SG&A Expenses	$89M
Other Expenses	$60M
Operating Expenses	$149M
Cost & Expenses	$210M
OPERATING INCOME	$96M
Interest Income	$262M
Interest Expense	$45M
Other Income/Expenses	$0
INCOME BEFORE TAX	$96M
Income Tax Expense	$29M
Net Income from Continuing Ops	$67M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$67M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$67M
D&A	$9M
EBIT	$96M
EBITDA	$105M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$67M
Depreciation & Amortization	$9M
Stock-Based Compensation	$6M
Deferred Income Tax	-$1M
Other Non-Cash Items	$33M
Change in Working Capital	-$6M
OPERATING CASH FLOW	$108M
Capital Expenditure	-$8M
Acquisitions (Net)	$0
Purchases of Investments	-$585M
Sales/Maturities of Investments	$673M
Other Investing Activities	-$265M
NET CASH FROM INVESTING	-$185M
Net Debt Issuance	-$117M
Common Stock Repurchased	-$9M
Common Dividends Paid	-$41M
Other Financing Activities	$272M
NET CASH FROM FINANCING	$111M
FREE CASH FLOW	$101M
Net Change in Cash	$34M

Balance Sheet

Item	Amount
Cash & Equivalents	$104M
Short-Term Investments	$1.3B
Net Receivables	$24M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$66M
Goodwill	$353M
Intangible Assets	$5M
Long-Term Investments	$5.2B
Tax Assets	$0
Other Non-Current Assets	$274M
TOTAL NON-CURRENT ASSETS	$5.9B
TOTAL ASSETS	$7.3B
Account Payables	$0
Short-Term Debt	$296M
Deferred Revenue	$0
Other Current Liabilities	$5.5B
TOTAL CURRENT LIABILITIES	$5.7B
Long-Term Debt	$508M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$49M
TOTAL NON-CURRENT LIABILITIES	$557M
TOTAL LIABILITIES	$6.3B
Common Stock	$832.0K
Additional Paid-In Capital	$1.0B
Retained Earnings	$390M
Treasury Stock	-$386M
Accum. Other Comp. Income	$8M
Other Equity	-$52M
TOTAL STOCKHOLDERS' EQUITY	$981M
Minority Interest	$0
TOTAL EQUITY	$981M
TOTAL LIABILITIES & EQUITY	$7.3B
Total Debt	$803M
Net Debt	$699M