PIPR FY 2007 Earnings Report — Piper Sandler Companies Revenue & Financial Results | Market Cap Arena

Piper Sandler CompaniesPIPR

FY 2007 Earnings

Reported February 28, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$528M	—	$537M	—	-1.7%
Op. Income	$30M	—	$33M	—	-8.8%
Gross Margin	95.5%	—	94.0%	—	1.5pp
Net Margin	4.2%	—	36.4%	—	-32.2pp
EPS (Diluted)	$1.21	—	$10.07	—	-88.0%
Free Cash Flow	$126M	—	-$81M	—	255.7%

Revenue Flow

Item	Amount
REVENUE	$528M
Cost of Revenue	$24M
GROSS PROFIT	$504M
R&D Expenses	$0
Selling & Marketing	$27M
General & Administrative	$330M
SG&A Expenses	$356M
Other Expenses	$118M
Operating Expenses	$474M
Cost & Expenses	$498M
OPERATING INCOME	$30M
Interest Income	$61M
Interest Expense	$24M
Other Income/Expenses	$0
INCOME BEFORE TAX	$30M
Income Tax Expense	$6M
Net Income from Continuing Ops	$25M
Net Income from Discontinued Ops	-$3M
Other Adjustments	$0
NET INCOME	$22M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$22M
D&A	$11M
EBIT	$30M
EBITDA	$42M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$528M
Cost of Revenue	$24M
GROSS PROFIT	$504M
R&D Expenses	$0
Selling & Marketing	$27M
General & Administrative	$330M
SG&A Expenses	$356M
Other Expenses	$118M
Operating Expenses	$474M
Cost & Expenses	$498M
OPERATING INCOME	$30M
Interest Income	$61M
Interest Expense	$24M
Other Income/Expenses	$0
INCOME BEFORE TAX	$30M
Income Tax Expense	$6M
Net Income from Continuing Ops	$25M
Net Income from Discontinued Ops	-$3M
Other Adjustments	$0
NET INCOME	$22M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$22M
D&A	$11M
EBIT	$30M
EBITDA	$42M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$22M
Depreciation & Amortization	$11M
Stock-Based Compensation	$292.0K
Deferred Income Tax	$687.0K
Other Non-Cash Items	$60M
Change in Working Capital	$57M
OPERATING CASH FLOW	$135M
Capital Expenditure	-$10M
Acquisitions (Net)	-$86M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$96M
Net Debt Issuance	$154M
Common Stock Repurchased	-$88M
Common Dividends Paid	$0
Other Financing Activities	$2M
NET CASH FROM FINANCING	$71M
FREE CASH FLOW	$126M
Net Change in Cash	$110M

Balance Sheet

Item	Amount
Cash & Equivalents	$202M
Short-Term Investments	$0
Net Receivables	$311M
Inventory	$0
Other Current Assets	$933M
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$27M
Goodwill	$311M
Intangible Assets	$0
Long-Term Investments	$772M
Tax Assets	-$329M
Other Non-Current Assets	-$772M
TOTAL NON-CURRENT ASSETS	$329M
TOTAL ASSETS	$1.7B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$122M
TOTAL CURRENT LIABILITIES	$811M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$811M
Common Stock	$195.0K
Additional Paid-In Capital	$738M
Retained Earnings	$368M
Treasury Stock	-$194M
Accum. Other Comp. Income	$1M
Other Equity	$368M
TOTAL STOCKHOLDERS' EQUITY	$913M
Minority Interest	$0
TOTAL EQUITY	$913M
TOTAL LIABILITIES & EQUITY	$1.7B
Total Debt	$247M
Net Debt	$46M