SRCE FY 2010 Earnings Report — 1st Source Corporation Revenue & Financial Results | Market Cap Arena

1st Source CorporationSRCE

FY 2010 Earnings

Reported February 17, 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	$287M	—	$286M	—	0.5%
Op. Income	$60M	—	$32M	—	91.9%
Gross Margin	74.8%	—	63.9%	—	11.0pp
Net Margin	14.4%	—	8.9%	—	5.4pp
EPS (Diluted)	$1.10	—	$0.72	—	52.8%
Free Cash Flow	$107M	—	$15M	—	606.1%

Revenue Flow

Item	Amount
REVENUE	$287M
Cost of Revenue	$72M
GROSS PROFIT	$215M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$91M
SG&A Expenses	$91M
Other Expenses	$63M
Operating Expenses	$155M
Cost & Expenses	$227M
OPERATING INCOME	$60M
Interest Income	$201M
Interest Expense	$53M
Other Income/Expenses	$0
INCOME BEFORE TAX	$60M
Income Tax Expense	$19M
Net Income from Continuing Ops	$41M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$41M
Net Income Deductions	-$12M
BOTTOM LINE NET INCOME	$30M
D&A	$28M
EBIT	$60M
EBITDA	$89M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$287M
Cost of Revenue	$72M
GROSS PROFIT	$215M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$91M
SG&A Expenses	$91M
Other Expenses	$63M
Operating Expenses	$155M
Cost & Expenses	$227M
OPERATING INCOME	$60M
Interest Income	$201M
Interest Expense	$53M
Other Income/Expenses	$0
INCOME BEFORE TAX	$60M
Income Tax Expense	$19M
Net Income from Continuing Ops	$41M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$41M
Net Income Deductions	-$12M
BOTTOM LINE NET INCOME	$30M
D&A	$28M
EBIT	$60M
EBITDA	$89M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$41M
Depreciation & Amortization	$28M
Stock-Based Compensation	$0
Deferred Income Tax	-$1M
Other Non-Cash Items	$13M
Change in Working Capital	$30M
OPERATING CASH FLOW	$111M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$572M
Sales/Maturities of Investments	$518M
Other Investing Activities	-$16M
NET CASH FROM INVESTING	-$75M
Net Debt Issuance	$11M
Common Stock Repurchased	-$113M
Common Dividends Paid	-$15M
Other Financing Activities	-$30M
NET CASH FROM FINANCING	-$150M
FREE CASH FLOW	$107M
Net Change in Cash	-$113M

Balance Sheet

Item	Amount
Cash & Equivalents	$62M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$203M
PP&E (Net)	$34M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$4.0B
Tax Assets	$0
Other Non-Current Assets	$113M
TOTAL NON-CURRENT ASSETS	$4.2B
TOTAL ASSETS	$4.4B
Account Payables	$0
Short-Term Debt	$156M
Deferred Revenue	$0
Other Current Liabilities	$3.6B
TOTAL CURRENT LIABILITIES	$3.8B
Long-Term Debt	$115M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$115M
TOTAL LIABILITIES	$4.0B
Common Stock	$0
Additional Paid-In Capital	$350M
Retained Earnings	$158M
Treasury Stock	-$32M
Accum. Other Comp. Income	$11M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$486M
Minority Interest	$0
TOTAL EQUITY	$486M
TOTAL LIABILITIES & EQUITY	$4.4B
Total Debt	$270M
Net Debt	$208M