TRMK FY 2008 Earnings Report — Trustmark Corporation Revenue & Financial Results | Market Cap Arena

Trustmark CorporationTRMK

FY 2008 Earnings

Reported February 26, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$661M	—	$706M	—	-6.4%
Op. Income	$136M	—	$163M	—	-16.4%
Gross Margin	63.6%	—	62.3%	—	1.3pp
Net Margin	14.0%	—	15.4%	—	-1.4pp
EPS (Diluted)	$1.59	—	$1.88	—	-15.4%
Free Cash Flow	$96M	—	$54M	—	76.7%

Revenue Flow

Item	Amount
REVENUE	$661M
Cost of Revenue	$241M
GROSS PROFIT	$420M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$210M
SG&A Expenses	$210M
Other Expenses	$74M
Operating Expenses	$284M
Cost & Expenses	$524M
OPERATING INCOME	$136M
Interest Income	$483M
Interest Expense	$164M
Other Income/Expenses	$0
INCOME BEFORE TAX	$136M
Income Tax Expense	$44M
Net Income from Continuing Ops	$92M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$92M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$91M
D&A	$27M
EBIT	$136M
EBITDA	$163M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$661M
Cost of Revenue	$241M
GROSS PROFIT	$420M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$210M
SG&A Expenses	$210M
Other Expenses	$74M
Operating Expenses	$284M
Cost & Expenses	$524M
OPERATING INCOME	$136M
Interest Income	$483M
Interest Expense	$164M
Other Income/Expenses	$0
INCOME BEFORE TAX	$136M
Income Tax Expense	$44M
Net Income from Continuing Ops	$92M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$92M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$91M
D&A	$27M
EBIT	$136M
EBITDA	$163M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$92M
Depreciation & Amortization	$27M
Stock-Based Compensation	$0
Deferred Income Tax	-$18M
Other Non-Cash Items	$27M
Change in Working Capital	-$16M
OPERATING CASH FLOW	$113M
Capital Expenditure	-$17M
Acquisitions (Net)	$0
Purchases of Investments	-$1.5B
Sales/Maturities of Investments	$418M
Other Investing Activities	$221M
NET CASH FROM INVESTING	-$850M
Net Debt Issuance	$235M
Common Stock Repurchased	$0
Common Dividends Paid	-$53M
Other Financing Activities	$305M
NET CASH FROM FINANCING	$703M
FREE CASH FLOW	$96M
Net Change in Cash	-$35M

Balance Sheet

Item	Amount
Cash & Equivalents	$258M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$258M
PP&E (Net)	$157M
Goodwill	$291M
Intangible Assets	$67M
Long-Term Investments	$8.7B
Tax Assets	$0
Other Non-Current Assets	$350M
TOTAL NON-CURRENT ASSETS	$9.5B
TOTAL ASSETS	$9.8B
Account Payables	$0
Short-Term Debt	$1.5B
Deferred Revenue	$0
Other Current Liabilities	$6.8B
TOTAL CURRENT LIABILITIES	$8.4B
Long-Term Debt	$120M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$127M
TOTAL NON-CURRENT LIABILITIES	$246M
TOTAL LIABILITIES	$8.6B
Common Stock	$0
Additional Paid-In Capital	$151M
Retained Earnings	$837M
Treasury Stock	$0
Accum. Other Comp. Income	-$15M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$9.8B
Total Debt	$1.7B
Net Debt	$1.4B