STC FY 2006 Earnings Report — Stewart Information Services Corporation Revenue & Financial Results | Market Cap Arena

Stewart Information Services CorporationSTC

FY 2006 Earnings

Reported March 1, 2007

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2006	Prior Q	FY 2005	QoQ Change	YoY Change
Revenue	$2.5B	—	—	—	—
Op. Income	$85M	—	—	—	—
Gross Margin	94.3%	—	—	—	—
Net Margin	1.8%	—	—	—	—
EPS (Diluted)	$2.36	—	—	—	—
Free Cash Flow	$58M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$2.5B
Cost of Revenue	$142M
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$1.1B
General & Administrative	$0
SG&A Expenses	$1.1B
Other Expenses	$1.2B
Operating Expenses	$2.2B
Cost & Expenses	$2.4B
OPERATING INCOME	$85M
Interest Income	$0
Interest Expense	$6M
Other Income/Expenses	$0
INCOME BEFORE TAX	$85M
Income Tax Expense	$23M
Net Income from Continuing Ops	$61M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$43M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$43M
D&A	$38M
EBIT	$91M
EBITDA	$128M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.5B
Cost of Revenue	$142M
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$1.1B
General & Administrative	$0
SG&A Expenses	$1.1B
Other Expenses	$1.2B
Operating Expenses	$2.2B
Cost & Expenses	$2.4B
OPERATING INCOME	$85M
Interest Income	$0
Interest Expense	$6M
Other Income/Expenses	$0
INCOME BEFORE TAX	$85M
Income Tax Expense	$23M
Net Income from Continuing Ops	$61M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$43M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$43M
D&A	$38M
EBIT	$91M
EBITDA	$128M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$43M
Depreciation & Amortization	$38M
Stock-Based Compensation	$0
Deferred Income Tax	-$4M
Other Non-Cash Items	$42M
Change in Working Capital	-$14M
OPERATING CASH FLOW	$100M
Capital Expenditure	-$42M
Acquisitions (Net)	-$45M
Purchases of Investments	-$408M
Sales/Maturities of Investments	$437M
Other Investing Activities	-$5M
NET CASH FROM INVESTING	-$63M
Net Debt Issuance	-$7M
Common Stock Repurchased	$0
Common Dividends Paid	-$13M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$38M
FREE CASH FLOW	$58M
Net Change in Cash	$1M

Balance Sheet

Item	Amount
Cash & Equivalents	$136M
Short-Term Investments	$162M
Net Receivables	$110M
Inventory	$0
Other Current Assets	$657M
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$173M
Goodwill	$204M
Intangible Assets	$15M
Long-Term Investments	$179M
Tax Assets	$14M
Other Non-Current Assets	-$193M
TOTAL NON-CURRENT ASSETS	$393M
TOTAL ASSETS	$1.5B
Account Payables	$0
Short-Term Debt	$110M
Deferred Revenue	$0
Other Current Liabilities	-$240M
TOTAL CURRENT LIABILITIES	$563M
Long-Term Debt	$92M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$14M
Other Non-Current Liabilities	-$107M
TOTAL NON-CURRENT LIABILITIES	$93M
TOTAL LIABILITIES	$639M
Common Stock	$19M
Additional Paid-In Capital	$130M
Retained Earnings	$650M
Treasury Stock	-$4M
Accum. Other Comp. Income	$8M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$802M
Minority Interest	$17M
TOTAL EQUITY	$820M
TOTAL LIABILITIES & EQUITY	$1.5B
Total Debt	$110M
Net Debt	-$27M