SRCE FY 2013 Earnings Report — 1st Source Corporation Revenue & Financial Results | Market Cap Arena

1st Source CorporationSRCE

FY 2013 Earnings

Reported February 21, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$257M	—	$263M	—	-2.5%
Op. Income	$84M	—	$76M	—	10.9%
Gross Margin	90.8%	—	86.3%	—	4.5pp
Net Margin	21.4%	—	18.9%	—	2.5pp
EPS (Diluted)	$2.03	—	$1.84	—	10.3%
Free Cash Flow	$59M	—	$84M	—	-29.9%

Revenue Flow

Item	Amount
REVENUE	$257M
Cost of Revenue	$24M
GROSS PROFIT	$233M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$94M
SG&A Expenses	$94M
Other Expenses	$55M
Operating Expenses	$149M
Cost & Expenses	$173M
OPERATING INCOME	$84M
Interest Income	$180M
Interest Expense	$23M
Other Income/Expenses	$0
INCOME BEFORE TAX	$84M
Income Tax Expense	$29M
Net Income from Continuing Ops	$55M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$55M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$54M
D&A	$19M
EBIT	$84M
EBITDA	$103M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$257M
Cost of Revenue	$24M
GROSS PROFIT	$233M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$94M
SG&A Expenses	$94M
Other Expenses	$55M
Operating Expenses	$149M
Cost & Expenses	$173M
OPERATING INCOME	$84M
Interest Income	$180M
Interest Expense	$23M
Other Income/Expenses	$0
INCOME BEFORE TAX	$84M
Income Tax Expense	$29M
Net Income from Continuing Ops	$55M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$55M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$54M
D&A	$19M
EBIT	$84M
EBITDA	$103M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$55M
Depreciation & Amortization	$19M
Stock-Based Compensation	$3M
Deferred Income Tax	-$2M
Other Non-Cash Items	$9M
Change in Working Capital	$2M
OPERATING CASH FLOW	$87M
Capital Expenditure	-$28M
Acquisitions (Net)	$0
Purchases of Investments	-$201M
Sales/Maturities of Investments	$225M
Other Investing Activities	-$227M
NET CASH FROM INVESTING	-$231M
Net Debt Issuance	$130M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$17M
Other Financing Activities	$29M
NET CASH FROM FINANCING	$140M
FREE CASH FLOW	$59M
Net Change in Cash	-$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$78M
Short-Term Investments	$833M
Net Receivables	$122M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.0B
PP&E (Net)	$108M
Goodwill	$0
Intangible Assets	$86M
Long-Term Investments	$3.5B
Tax Assets	$0
Other Non-Current Assets	$3M
TOTAL NON-CURRENT ASSETS	$3.7B
TOTAL ASSETS	$4.7B
Account Payables	$0
Short-Term Debt	$314M
Deferred Revenue	$0
Other Current Liabilities	$3.7B
TOTAL CURRENT LIABILITIES	$4.0B
Long-Term Debt	$103M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$14M
TOTAL NON-CURRENT LIABILITIES	$117M
TOTAL LIABILITIES	$4.1B
Common Stock	$347M
Additional Paid-In Capital	$0
Retained Earnings	$262M
Treasury Stock	-$29M
Accum. Other Comp. Income	$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$585M
Minority Interest	$0
TOTAL EQUITY	$585M
TOTAL LIABILITIES & EQUITY	$4.7B
Total Debt	$417M
Net Debt	$340M