TRMK FY 2011 Earnings Report — Trustmark Corporation Revenue & Financial Results | Market Cap Arena

Trustmark CorporationTRMK

FY 2011 Earnings

Reported February 27, 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	$489M	—	$520M	—	-6.0%
Op. Income	$149M	—	$143M	—	4.1%
Gross Margin	85.0%	—	79.7%	—	5.3pp
Net Margin	21.9%	—	19.4%	—	2.5pp
EPS (Diluted)	$1.66	—	$0.39	—	325.6%
Free Cash Flow	$161M	—	$200M	—	-19.3%

Revenue Flow

Item	Amount
REVENUE	$489M
Cost of Revenue	$73M
GROSS PROFIT	$415M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$187M
SG&A Expenses	$187M
Other Expenses	$80M
Operating Expenses	$267M
Cost & Expenses	$340M
OPERATING INCOME	$149M
Interest Income	$392M
Interest Expense	$43M
Other Income/Expenses	$0
INCOME BEFORE TAX	$149M
Income Tax Expense	$42M
Net Income from Continuing Ops	$107M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$107M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$107M
D&A	$25M
EBIT	$149M
EBITDA	$174M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$489M
Cost of Revenue	$73M
GROSS PROFIT	$415M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$187M
SG&A Expenses	$187M
Other Expenses	$80M
Operating Expenses	$267M
Cost & Expenses	$340M
OPERATING INCOME	$149M
Interest Income	$392M
Interest Expense	$43M
Other Income/Expenses	$0
INCOME BEFORE TAX	$149M
Income Tax Expense	$42M
Net Income from Continuing Ops	$107M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$107M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$107M
D&A	$25M
EBIT	$149M
EBITDA	$174M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$107M
Depreciation & Amortization	$25M
Stock-Based Compensation	$0
Deferred Income Tax	-$10M
Other Non-Cash Items	$28M
Change in Working Capital	$23M
OPERATING CASH FLOW	$174M
Capital Expenditure	-$12M
Acquisitions (Net)	$79M
Purchases of Investments	-$1.0B
Sales/Maturities of Investments	$855M
Other Investing Activities	$200M
NET CASH FROM INVESTING	$95M
Net Debt Issuance	-$390M
Common Stock Repurchased	$0
Common Dividends Paid	-$59M
Other Financing Activities	$222M
NET CASH FROM FINANCING	-$228M
FREE CASH FLOW	$161M
Net Change in Cash	$41M

Balance Sheet

Item	Amount
Cash & Equivalents	$203M
Short-Term Investments	$2.5B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.7B
PP&E (Net)	$143M
Goodwill	$291M
Intangible Assets	$57M
Long-Term Investments	$6.1B
Tax Assets	$0
Other Non-Current Assets	$446M
TOTAL NON-CURRENT ASSETS	$7.0B
TOTAL ASSETS	$9.7B
Account Payables	$0
Short-Term Debt	$692M
Deferred Revenue	$0
Other Current Liabilities	$7.6B
TOTAL CURRENT LIABILITIES	$8.3B
Long-Term Debt	$112M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$142M
TOTAL NON-CURRENT LIABILITIES	$253M
TOTAL LIABILITIES	$8.5B
Common Stock	$13M
Additional Paid-In Capital	$266M
Retained Earnings	$933M
Treasury Stock	$0
Accum. Other Comp. Income	$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$9.7B
Total Debt	$804M
Net Debt	$601M