UBSI FY 2012 Earnings Report — United Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

United Bankshares, Inc.UBSI

FY 2012 Earnings

Reported February 28, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$387M	—	$366M	—	5.8%
Op. Income	$121M	—	$110M	—	10.1%
Gross Margin	83.5%	—	80.1%	—	3.4pp
Net Margin	21.3%	—	20.6%	—	0.7pp
EPS (Diluted)	$1.64	—	$1.61	—	1.9%
Free Cash Flow	$124M	—	$111M	—	12.4%

Revenue Flow

Item	Amount
REVENUE	$387M
Cost of Revenue	$64M
GROSS PROFIT	$323M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$111M
SG&A Expenses	$111M
Other Expenses	$91M
Operating Expenses	$202M
Cost & Expenses	$266M
OPERATING INCOME	$121M
Interest Income	$324M
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$121M
Income Tax Expense	$39M
Net Income from Continuing Ops	$83M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$83M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$83M
D&A	$10M
EBIT	$121M
EBITDA	$131M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$387M
Cost of Revenue	$64M
GROSS PROFIT	$323M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$111M
SG&A Expenses	$111M
Other Expenses	$91M
Operating Expenses	$202M
Cost & Expenses	$266M
OPERATING INCOME	$121M
Interest Income	$324M
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$121M
Income Tax Expense	$39M
Net Income from Continuing Ops	$83M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$83M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$83M
D&A	$10M
EBIT	$121M
EBITDA	$131M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$83M
Depreciation & Amortization	$10M
Stock-Based Compensation	$2M
Deferred Income Tax	$337.0K
Other Non-Cash Items	$10M
Change in Working Capital	$25M
OPERATING CASH FLOW	$129M
Capital Expenditure	-$5M
Acquisitions (Net)	$0
Purchases of Investments	-$1.9B
Sales/Maturities of Investments	$2.0B
Other Investing Activities	-$296M
NET CASH FROM INVESTING	-$208M
Net Debt Issuance	-$55M
Common Stock Repurchased	-$12.0K
Common Dividends Paid	-$62M
Other Financing Activities	-$7M
NET CASH FROM FINANCING	-$125M
FREE CASH FLOW	$124M
Net Change in Cash	-$204M

Balance Sheet

Item	Amount
Cash & Equivalents	$431M
Short-Term Investments	$626M
Net Receivables	$26M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$72M
Goodwill	$376M
Intangible Assets	$0
Long-Term Investments	$6.6B
Tax Assets	$0
Other Non-Current Assets	$330M
TOTAL NON-CURRENT ASSETS	$7.3B
TOTAL ASSETS	$8.4B
Account Payables	$0
Short-Term Debt	$215M
Deferred Revenue	$0
Other Current Liabilities	$6.8B
TOTAL CURRENT LIABILITIES	$7.0B
Long-Term Debt	$385M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$385M
TOTAL LIABILITIES	$7.4B
Common Stock	$127M
Additional Paid-In Capital	$239M
Retained Earnings	$712M
Treasury Stock	-$20M
Accum. Other Comp. Income	-$66M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$992M
Minority Interest	$0
TOTAL EQUITY	$992M
TOTAL LIABILITIES & EQUITY	$8.4B
Total Debt	$600M
Net Debt	$169M