SRCE FY 2011 Earnings Report — 1st Source Corporation Revenue & Financial Results | Market Cap Arena

1st Source CorporationSRCE

FY 2011 Earnings

Reported February 17, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$268M	—	$287M	—	-6.6%
Op. Income	$74M	—	$60M	—	22.0%
Gross Margin	84.3%	—	74.8%	—	9.4pp
Net Margin	18.0%	—	14.4%	—	3.6pp
EPS (Diluted)	$1.78	—	$1.10	—	61.8%
Free Cash Flow	$103M	—	$107M	—	-3.7%

Revenue Flow

Item	Amount
REVENUE	$268M
Cost of Revenue	$42M
GROSS PROFIT	$226M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$91M
SG&A Expenses	$91M
Other Expenses	$61M
Operating Expenses	$152M
Cost & Expenses	$195M
OPERATING INCOME	$74M
Interest Income	$188M
Interest Expense	$39M
Other Income/Expenses	$0
INCOME BEFORE TAX	$74M
Income Tax Expense	$26M
Net Income from Continuing Ops	$48M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$48M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$48M
D&A	$25M
EBIT	$74M
EBITDA	$99M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$268M
Cost of Revenue	$42M
GROSS PROFIT	$226M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$91M
SG&A Expenses	$91M
Other Expenses	$61M
Operating Expenses	$152M
Cost & Expenses	$195M
OPERATING INCOME	$74M
Interest Income	$188M
Interest Expense	$39M
Other Income/Expenses	$0
INCOME BEFORE TAX	$74M
Income Tax Expense	$26M
Net Income from Continuing Ops	$48M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$48M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$48M
D&A	$25M
EBIT	$74M
EBITDA	$99M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$48M
Depreciation & Amortization	$25M
Stock-Based Compensation	$0
Deferred Income Tax	$4M
Other Non-Cash Items	$27M
Change in Working Capital	$20M
OPERATING CASH FLOW	$124M
Capital Expenditure	-$21M
Acquisitions (Net)	$0
Purchases of Investments	-$388M
Sales/Maturities of Investments	$489M
Other Investing Activities	-$44M
NET CASH FROM INVESTING	$35M
Net Debt Issuance	-$20M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$16M
Other Financing Activities	-$106M
NET CASH FROM FINANCING	-$142M
FREE CASH FLOW	$103M
Net Change in Cash	$17M

Balance Sheet

Item	Amount
Cash & Equivalents	$61M
Short-Term Investments	$883M
Net Receivables	$139M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$109M
Goodwill	$0
Intangible Assets	$88M
Long-Term Investments	$3.1B
Tax Assets	$0
Other Non-Current Assets	-$105M
TOTAL NON-CURRENT ASSETS	$3.2B
TOTAL ASSETS	$4.4B
Account Payables	$0
Short-Term Debt	$125M
Deferred Revenue	$0
Other Current Liabilities	$3.5B
TOTAL CURRENT LIABILITIES	$3.7B
Long-Term Debt	$117M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$10M
TOTAL NON-CURRENT LIABILITIES	$127M
TOTAL LIABILITIES	$3.9B
Common Stock	$347M
Additional Paid-In Capital	$347M
Retained Earnings	$190M
Treasury Stock	-$31M
Accum. Other Comp. Income	-$328M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$524M
Minority Interest	$0
TOTAL EQUITY	$524M
TOTAL LIABILITIES & EQUITY	$4.4B
Total Debt	$242M
Net Debt	$180M