SRCE FY 2012 Earnings Report — 1st Source Corporation Revenue & Financial Results | Market Cap Arena

1st Source CorporationSRCE

FY 2012 Earnings

Reported February 22, 2013

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	$263M	—	$268M	—	-1.9%
Op. Income	$76M	—	$74M	—	2.6%
Gross Margin	86.3%	—	84.3%	—	2.0pp
Net Margin	18.9%	—	18.0%	—	0.9pp
EPS (Diluted)	$1.84	—	$1.78	—	3.4%
Free Cash Flow	$84M	—	$103M	—	-18.7%

Revenue Flow

Item	Amount
REVENUE	$263M
Cost of Revenue	$36M
GROSS PROFIT	$227M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$96M
SG&A Expenses	$96M
Other Expenses	$55M
Operating Expenses	$152M
Cost & Expenses	$188M
OPERATING INCOME	$76M
Interest Income	$182M
Interest Expense	$30M
Other Income/Expenses	$0
INCOME BEFORE TAX	$76M
Income Tax Expense	$26M
Net Income from Continuing Ops	$50M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$50M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$49M
D&A	$22M
EBIT	$76M
EBITDA	$98M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$263M
Cost of Revenue	$36M
GROSS PROFIT	$227M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$96M
SG&A Expenses	$96M
Other Expenses	$55M
Operating Expenses	$152M
Cost & Expenses	$188M
OPERATING INCOME	$76M
Interest Income	$182M
Interest Expense	$30M
Other Income/Expenses	$0
INCOME BEFORE TAX	$76M
Income Tax Expense	$26M
Net Income from Continuing Ops	$50M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$50M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$49M
D&A	$22M
EBIT	$76M
EBITDA	$98M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$50M
Depreciation & Amortization	$22M
Stock-Based Compensation	$0
Deferred Income Tax	-$8M
Other Non-Cash Items	$12M
Change in Working Capital	$17M
OPERATING CASH FLOW	$93M
Capital Expenditure	-$9M
Acquisitions (Net)	$0
Purchases of Investments	-$359M
Sales/Maturities of Investments	$356M
Other Investing Activities	-$242M
NET CASH FROM INVESTING	-$255M
Net Debt Issuance	$44M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$17M
Other Financing Activities	$104M
NET CASH FROM FINANCING	$131M
FREE CASH FLOW	$84M
Net Change in Cash	-$30M

Balance Sheet

Item	Amount
Cash & Equivalents	$83M
Short-Term Investments	$881M
Net Receivables	$123M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$97M
Goodwill	$0
Intangible Assets	$88M
Long-Term Investments	$3.3B
Tax Assets	$0
Other Non-Current Assets	$848.0K
TOTAL NON-CURRENT ASSETS	$3.5B
TOTAL ASSETS	$4.6B
Account Payables	$0
Short-Term Debt	$169M
Deferred Revenue	$0
Other Current Liabilities	$3.6B
TOTAL CURRENT LIABILITIES	$3.9B
Long-Term Debt	$117M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$13M
TOTAL NON-CURRENT LIABILITIES	$130M
TOTAL LIABILITIES	$4.0B
Common Stock	$347M
Additional Paid-In Capital	$0
Retained Earnings	$224M
Treasury Stock	-$31M
Accum. Other Comp. Income	$20M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$559M
Minority Interest	$0
TOTAL EQUITY	$559M
TOTAL LIABILITIES & EQUITY	$4.6B
Total Debt	$286M
Net Debt	$203M