TRMK FY 2009 Earnings Report — Trustmark Corporation Revenue & Financial Results | Market Cap Arena

Trustmark CorporationTRMK

FY 2009 Earnings

Reported February 25, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$610M	—	$661M	—	-7.6%
Op. Income	$137M	—	$136M	—	0.6%
Gross Margin	73.0%	—	63.6%	—	9.4pp
Net Margin	15.2%	—	14.0%	—	1.3pp
EPS (Diluted)	$1.26	—	$1.59	—	-20.8%
Free Cash Flow	$166M	—	$96M	—	73.6%

Revenue Flow

Item	Amount
REVENUE	$610M
Cost of Revenue	$165M
GROSS PROFIT	$445M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$225M
SG&A Expenses	$225M
Other Expenses	$83M
Operating Expenses	$308M
Cost & Expenses	$473M
OPERATING INCOME	$137M
Interest Income	$442M
Interest Expense	$88M
Other Income/Expenses	$0
INCOME BEFORE TAX	$137M
Income Tax Expense	$44M
Net Income from Continuing Ops	$93M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$93M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$73M
D&A	$26M
EBIT	$137M
EBITDA	$164M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$610M
Cost of Revenue	$165M
GROSS PROFIT	$445M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$225M
SG&A Expenses	$225M
Other Expenses	$83M
Operating Expenses	$308M
Cost & Expenses	$473M
OPERATING INCOME	$137M
Interest Income	$442M
Interest Expense	$88M
Other Income/Expenses	$0
INCOME BEFORE TAX	$137M
Income Tax Expense	$44M
Net Income from Continuing Ops	$93M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$93M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$73M
D&A	$26M
EBIT	$137M
EBITDA	$164M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$93M
Depreciation & Amortization	$26M
Stock-Based Compensation	$0
Deferred Income Tax	-$4M
Other Non-Cash Items	$115M
Change in Working Capital	-$57M
OPERATING CASH FLOW	$172M
Capital Expenditure	-$6M
Acquisitions (Net)	$0
Purchases of Investments	-$702M
Sales/Maturities of Investments	$614M
Other Investing Activities	$293M
NET CASH FROM INVESTING	$199M
Net Debt Issuance	-$444M
Common Stock Repurchased	$0
Common Dividends Paid	-$53M
Other Financing Activities	$197M
NET CASH FROM FINANCING	-$416M
FREE CASH FLOW	$166M
Net Change in Cash	-$44M

Balance Sheet

Item	Amount
Cash & Equivalents	$214M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$214M
PP&E (Net)	$147M
Goodwill	$291M
Intangible Assets	$418M
Long-Term Investments	$8.4B
Tax Assets	$0
Other Non-Current Assets	$96M
TOTAL NON-CURRENT ASSETS	$9.3B
TOTAL ASSETS	$9.5B
Account Payables	$0
Short-Term Debt	$907M
Deferred Revenue	$0
Other Current Liabilities	$7.2B
TOTAL CURRENT LIABILITIES	$8.1B
Long-Term Debt	$195M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$126M
TOTAL NON-CURRENT LIABILITIES	$321M
TOTAL LIABILITIES	$8.4B
Common Stock	$0
Additional Paid-In Capital	$258M
Retained Earnings	$854M
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$9.5B
Total Debt	$1.1B
Net Debt	$888M