TRST FY 2008 Earnings Report — TrustCo Bank Corp NY Revenue & Financial Results | Market Cap Arena

TrustCo Bank Corp NYTRST

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	$189M	—	$207M	—	-8.6%
Op. Income	$50M	—	$58M	—	-13.4%
Gross Margin	58.7%	—	53.9%	—	4.8pp
Net Margin	18.0%	—	19.0%	—	-1.1pp
EPS (Diluted)	$2.25	—	$2.63	—	-14.4%
Free Cash Flow	$145M	—	$102M	—	42.5%

Revenue Flow

Item	Amount
REVENUE	$189M
Cost of Revenue	$78M
GROSS PROFIT	$111M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$30M
SG&A Expenses	$33M
Other Expenses	$28M
Operating Expenses	$61M
Cost & Expenses	$139M
OPERATING INCOME	$50M
Interest Income	$171M
Interest Expense	$74M
Other Income/Expenses	$0
INCOME BEFORE TAX	$50M
Income Tax Expense	$16M
Net Income from Continuing Ops	$34M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$34M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$34M
D&A	$4M
EBIT	$50M
EBITDA	$54M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$189M
Cost of Revenue	$78M
GROSS PROFIT	$111M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$30M
SG&A Expenses	$33M
Other Expenses	$28M
Operating Expenses	$61M
Cost & Expenses	$139M
OPERATING INCOME	$50M
Interest Income	$171M
Interest Expense	$74M
Other Income/Expenses	$0
INCOME BEFORE TAX	$50M
Income Tax Expense	$16M
Net Income from Continuing Ops	$34M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$34M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$34M
D&A	$4M
EBIT	$50M
EBITDA	$54M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$34M
Depreciation & Amortization	$4M
Stock-Based Compensation	$193.0K
Deferred Income Tax	-$2M
Other Non-Cash Items	$352M
Change in Working Capital	-$217.0K
OPERATING CASH FLOW	$389M
Capital Expenditure	-$244M
Acquisitions (Net)	$0
Purchases of Investments	-$722M
Sales/Maturities of Investments	$377M
Other Investing Activities	$1M
NET CASH FROM INVESTING	-$587M
Net Debt Issuance	$17M
Common Stock Repurchased	-$8M
Common Dividends Paid	-$37M
Other Financing Activities	$125M
NET CASH FROM FINANCING	$103M
FREE CASH FLOW	$145M
Net Change in Cash	-$95M

Balance Sheet

Item	Amount
Cash & Equivalents	$42M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$42M
PP&E (Net)	$35M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$3.1B
Tax Assets	$0
Other Non-Current Assets	$362M
TOTAL NON-CURRENT ASSETS	$3.5B
TOTAL ASSETS	$3.5B
Account Payables	$0
Short-Term Debt	$110M
Deferred Revenue	$0
Other Current Liabilities	$3.1B
TOTAL CURRENT LIABILITIES	$3.3B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$3.3B
Common Stock	$83M
Additional Paid-In Capital	$130M
Retained Earnings	$94M
Treasury Stock	-$70M
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$236M
Minority Interest	$0
TOTAL EQUITY	$236M
TOTAL LIABILITIES & EQUITY	$3.5B
Total Debt	$110M
Net Debt	$68M