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

PennyMac Financial Services, Inc.PFSI

FY 2012 Earnings

Reported December 31, 2012

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	$273M	—	$77M	—	256.1%
Op. Income	$118M	—	$15M	—	705.0%
Gross Margin	72.2%	—	55.0%	—	17.3pp
Net Margin	43.3%	—	19.2%	—	24.2pp
EPS (Diluted)	$10.65	—	$1.32	—	706.8%
Free Cash Flow	-$312M	—	-$78M	—	-299.6%

Revenue Flow

Item	Amount
REVENUE	$273M
Cost of Revenue	$76M
GROSS PROFIT	$197M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$59M
SG&A Expenses	$59M
Other Expenses	$20M
Operating Expenses	$79M
Cost & Expenses	$155M
OPERATING INCOME	$118M
Interest Income	$0
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$118M
Income Tax Expense	$0
Net Income from Continuing Ops	$118M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$118M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$118M
D&A	$13M
EBIT	$118M
EBITDA	$131M
EPS	$11
EPS Diluted	$11

Income Statement

Item	Amount
REVENUE	$273M
Cost of Revenue	$76M
GROSS PROFIT	$197M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$59M
SG&A Expenses	$59M
Other Expenses	$20M
Operating Expenses	$79M
Cost & Expenses	$155M
OPERATING INCOME	$118M
Interest Income	$0
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$118M
Income Tax Expense	$0
Net Income from Continuing Ops	$118M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$118M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$118M
D&A	$13M
EBIT	$118M
EBITDA	$131M
EPS	$11
EPS Diluted	$11

Cash Flow Statement

Item	Amount
Net Income	$118M
Depreciation & Amortization	$13M
Stock-Based Compensation	$20M
Deferred Income Tax	-$650.0K
Other Non-Cash Items	-$473M
Change in Working Capital	$14M
OPERATING CASH FLOW	-$308M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$42M
NET CASH FROM INVESTING	-$46M
Net Debt Issuance	$350M
Common Stock Repurchased	$0
Common Dividends Paid	-$16M
Other Financing Activities	$15M
NET CASH FROM FINANCING	$349M
FREE CASH FLOW	-$312M
Net Change in Cash	-$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$12M
Short-Term Investments	$53M
Net Receivables	$68M
Inventory	$0
Other Current Assets	$448M
TOTAL CURRENT ASSETS	$675M
PP&E (Net)	$5M
Goodwill	$0
Intangible Assets	$110M
Long-Term Investments	$2M
Tax Assets	$27M
Other Non-Current Assets	$13M
TOTAL NON-CURRENT ASSETS	$157M
TOTAL ASSETS	$832M
Account Payables	$83M
Short-Term Debt	$394M
Deferred Revenue	$0
Other Current Liabilities	-$394M
TOTAL CURRENT LIABILITIES	$120M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$451M
TOTAL NON-CURRENT LIABILITIES	$451M
TOTAL LIABILITIES	$570M
Common Stock	$262M
Additional Paid-In Capital	$0
Retained Earnings	$147M
Treasury Stock	$0
Accum. Other Comp. Income	-$262M
Other Equity	-$147M
TOTAL STOCKHOLDERS' EQUITY	$262M
Minority Interest	$0
TOTAL EQUITY	$262M
TOTAL LIABILITIES & EQUITY	$832M
Total Debt	$447M
Net Debt	$434M