SRCE FY 2009 Earnings Report — 1st Source Corporation Revenue & Financial Results | Market Cap Arena

1st Source CorporationSRCE

FY 2009 Earnings

Reported February 19, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$286M	—	$319M	—	-10.5%
Op. Income	$32M	—	$46M	—	-32.1%
Gross Margin	63.9%	—	62.5%	—	1.4pp
Net Margin	8.9%	—	10.5%	—	-1.5pp
EPS (Diluted)	$0.72	—	$1.26	—	-42.9%
Free Cash Flow	$15M	—	$40M	—	-62.1%

Revenue Flow

Item	Amount
REVENUE	$286M
Cost of Revenue	$103M
GROSS PROFIT	$183M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$91M
SG&A Expenses	$95M
Other Expenses	$57M
Operating Expenses	$151M
Cost & Expenses	$254M
OPERATING INCOME	$32M
Interest Income	$200M
Interest Expense	$72M
Other Income/Expenses	$0
INCOME BEFORE TAX	$32M
Income Tax Expense	$6M
Net Income from Continuing Ops	$25M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$25M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$28M
EBIT	$32M
EBITDA	$60M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$286M
Cost of Revenue	$103M
GROSS PROFIT	$183M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$91M
SG&A Expenses	$95M
Other Expenses	$57M
Operating Expenses	$151M
Cost & Expenses	$254M
OPERATING INCOME	$32M
Interest Income	$200M
Interest Expense	$72M
Other Income/Expenses	$0
INCOME BEFORE TAX	$32M
Income Tax Expense	$6M
Net Income from Continuing Ops	$25M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$25M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$28M
EBIT	$32M
EBITDA	$60M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$25M
Depreciation & Amortization	$28M
Stock-Based Compensation	$0
Deferred Income Tax	$6M
Other Non-Cash Items	$53M
Change in Working Capital	-$61M
OPERATING CASH FLOW	$52M
Capital Expenditure	-$37M
Acquisitions (Net)	$0
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$756M
Other Investing Activities	$182M
NET CASH FROM INVESTING	-$173M
Net Debt Issuance	-$156M
Common Stock Repurchased	-$1M
Common Dividends Paid	-$15M
Other Financing Activities	$138M
NET CASH FROM FINANCING	$74M
FREE CASH FLOW	$15M
Net Change in Cash	-$47M

Balance Sheet

Item	Amount
Cash & Equivalents	$73M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$73M
PP&E (Net)	$135M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$4.0B
Tax Assets	$0
Other Non-Current Assets	$290M
TOTAL NON-CURRENT ASSETS	$4.5B
TOTAL ASSETS	$4.5B
Account Payables	$0
Short-Term Debt	$150M
Deferred Revenue	$0
Other Current Liabilities	$3.7B
TOTAL CURRENT LIABILITIES	$3.9B
Long-Term Debt	$109M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$109M
TOTAL LIABILITIES	$4.0B
Common Stock	$350M
Additional Paid-In Capital	$350M
Retained Earnings	$142M
Treasury Stock	-$32M
Accum. Other Comp. Income	-$345M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$570M
Minority Interest	$0
TOTAL EQUITY	$570M
TOTAL LIABILITIES & EQUITY	$4.5B
Total Debt	$260M
Net Debt	$187M