TCBI FY 2011 Earnings Report — Texas Capital Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Texas Capital Bancshares, Inc.TCBI

FY 2011 Earnings

Reported February 23, 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	$354M	—	$312M	—	13.4%
Op. Income	$118M	—	$57M	—	108.3%
Gross Margin	86.7%	—	70.6%	—	16.0pp
Net Margin	21.5%	—	11.9%	—	9.6pp
EPS (Diluted)	$1.98	—	$1.00	—	98.0%
Free Cash Flow	$73M	—	-$408M	—	117.8%

Revenue Flow

Item	Amount
REVENUE	$354M
Cost of Revenue	$47M
GROSS PROFIT	$307M
R&D Expenses	$0
Selling & Marketing	$11M
General & Administrative	$118M
SG&A Expenses	$129M
Other Expenses	$59M
Operating Expenses	$188M
Cost & Expenses	$235M
OPERATING INCOME	$118M
Interest Income	$322M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$118M
Income Tax Expense	$42M
Net Income from Continuing Ops	$76M
Net Income from Discontinued Ops	-$126.0K
Other Adjustments	$0
NET INCOME	$76M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$76M
D&A	$9M
EBIT	$118M
EBITDA	$128M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$354M
Cost of Revenue	$47M
GROSS PROFIT	$307M
R&D Expenses	$0
Selling & Marketing	$11M
General & Administrative	$118M
SG&A Expenses	$129M
Other Expenses	$59M
Operating Expenses	$188M
Cost & Expenses	$235M
OPERATING INCOME	$118M
Interest Income	$322M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$118M
Income Tax Expense	$42M
Net Income from Continuing Ops	$76M
Net Income from Discontinued Ops	-$126.0K
Other Adjustments	$0
NET INCOME	$76M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$76M
D&A	$9M
EBIT	$118M
EBITDA	$128M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$76M
Depreciation & Amortization	$9M
Stock-Based Compensation	$7M
Deferred Income Tax	-$4M
Other Non-Cash Items	$17M
Change in Working Capital	-$31M
OPERATING CASH FLOW	$76M
Capital Expenditure	-$3M
Acquisitions (Net)	-$11M
Purchases of Investments	-$10M
Sales/Maturities of Investments	$51M
Other Investing Activities	-$1.8B
NET CASH FROM INVESTING	-$1.7B
Net Debt Issuance	$1.3B
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$240M
NET CASH FROM FINANCING	$1.6B
FREE CASH FLOW	$73M
Net Change in Cash	-$69M

Balance Sheet

Item	Amount
Cash & Equivalents	$111M
Short-Term Investments	$144M
Net Receivables	$269M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$523M
PP&E (Net)	$11M
Goodwill	$14M
Intangible Assets	$6M
Long-Term Investments	$7.6B
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$7.6B
TOTAL ASSETS	$8.1B
Account Payables	$599.0K
Short-Term Debt	$1.8B
Deferred Revenue	$0
Other Current Liabilities	$5.6B
TOTAL CURRENT LIABILITIES	$7.3B
Long-Term Debt	$1.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$1.2B
TOTAL NON-CURRENT LIABILITIES	$196M
TOTAL LIABILITIES	$7.5B
Common Stock	$376.0K
Additional Paid-In Capital	$349M
Retained Earnings	$262M
Treasury Stock	-$8.0K
Accum. Other Comp. Income	$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$616M
Minority Interest	$0
TOTAL EQUITY	$616M
TOTAL LIABILITIES & EQUITY	$8.1B
Total Debt	$3.2B
Net Debt	$3.1B