UBSI FY 2011 Earnings Report — United Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

United Bankshares, Inc.UBSI

FY 2011 Earnings

Reported February 29, 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	$366M	—	$382M	—	-4.2%
Op. Income	$110M	—	$104M	—	5.7%
Gross Margin	80.1%	—	74.1%	—	6.0pp
Net Margin	20.6%	—	18.8%	—	1.8pp
EPS (Diluted)	$1.61	—	$1.65	—	-2.4%
Free Cash Flow	$111M	—	$98M	—	13.3%

Revenue Flow

Item	Amount
REVENUE	$366M
Cost of Revenue	$73M
GROSS PROFIT	$293M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$102M
SG&A Expenses	$102M
Other Expenses	$81M
Operating Expenses	$183M
Cost & Expenses	$256M
OPERATING INCOME	$110M
Interest Income	$317M
Interest Expense	$56M
Other Income/Expenses	$0
INCOME BEFORE TAX	$110M
Income Tax Expense	$35M
Net Income from Continuing Ops	$76M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$76M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$76M
D&A	$7M
EBIT	$110M
EBITDA	$118M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$366M
Cost of Revenue	$73M
GROSS PROFIT	$293M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$102M
SG&A Expenses	$102M
Other Expenses	$81M
Operating Expenses	$183M
Cost & Expenses	$256M
OPERATING INCOME	$110M
Interest Income	$317M
Interest Expense	$56M
Other Income/Expenses	$0
INCOME BEFORE TAX	$110M
Income Tax Expense	$35M
Net Income from Continuing Ops	$76M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$76M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$76M
D&A	$7M
EBIT	$110M
EBITDA	$118M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$76M
Depreciation & Amortization	$7M
Stock-Based Compensation	$1M
Deferred Income Tax	$11M
Other Non-Cash Items	$38M
Change in Working Capital	-$14M
OPERATING CASH FLOW	$119M
Capital Expenditure	-$8M
Acquisitions (Net)	$49M
Purchases of Investments	-$1.4B
Sales/Maturities of Investments	$1.5B
Other Investing Activities	$30M
NET CASH FROM INVESTING	$158M
Net Debt Issuance	-$60M
Common Stock Repurchased	-$18.0K
Common Dividends Paid	-$54M
Other Financing Activities	$12M
NET CASH FROM FINANCING	-$102M
FREE CASH FLOW	$111M
Net Change in Cash	$175M

Balance Sheet

Item	Amount
Cash & Equivalents	$635M
Short-Term Investments	$697M
Net Receivables	$26M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$76M
Goodwill	$376M
Intangible Assets	$0
Long-Term Investments	$6.3B
Tax Assets	$0
Other Non-Current Assets	$353M
TOTAL NON-CURRENT ASSETS	$7.1B
TOTAL ASSETS	$8.5B
Account Payables	$0
Short-Term Debt	$255M
Deferred Revenue	$0
Other Current Liabilities	$6.8B
TOTAL CURRENT LIABILITIES	$7.1B
Long-Term Debt	$345M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$345M
TOTAL LIABILITIES	$7.5B
Common Stock	$127M
Additional Paid-In Capital	$239M
Retained Earnings	$692M
Treasury Stock	-$22M
Accum. Other Comp. Income	-$67M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$969M
Minority Interest	$0
TOTAL EQUITY	$969M
TOTAL LIABILITIES & EQUITY	$8.5B
Total Debt	$600M
Net Debt	-$35M