VLY FY 2011 Earnings Report — Valley National Bancorp Revenue & Financial Results | Market Cap Arena

Valley National BancorpVLY

FY 2011 Earnings

Reported February 28, 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	$786M	—	$768M	—	2.3%
Op. Income	$195M	—	$185M	—	5.6%
Gross Margin	67.9%	—	65.7%	—	2.2pp
Net Margin	16.9%	—	16.9%	—	-0.1pp
EPS (Diluted)	$0.75	—	$0.73	—	2.7%
Free Cash Flow	$175M	—	$264M	—	-33.8%

Revenue Flow

Item	Amount
REVENUE	$786M
Cost of Revenue	$252M
GROSS PROFIT	$534M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$189M
SG&A Expenses	$197M
Other Expenses	$141M
Operating Expenses	$339M
Cost & Expenses	$591M
OPERATING INCOME	$195M
Interest Income	$674M
Interest Expense	$199M
Other Income/Expenses	$0
INCOME BEFORE TAX	$195M
Income Tax Expense	$63M
Net Income from Continuing Ops	$133M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$133M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$133M
D&A	$26M
EBIT	$195M
EBITDA	$221M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$786M
Cost of Revenue	$252M
GROSS PROFIT	$534M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$189M
SG&A Expenses	$197M
Other Expenses	$141M
Operating Expenses	$339M
Cost & Expenses	$591M
OPERATING INCOME	$195M
Interest Income	$674M
Interest Expense	$199M
Other Income/Expenses	$0
INCOME BEFORE TAX	$195M
Income Tax Expense	$63M
Net Income from Continuing Ops	$133M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$133M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$133M
D&A	$26M
EBIT	$195M
EBITDA	$221M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$133M
Depreciation & Amortization	$26M
Stock-Based Compensation	$3M
Deferred Income Tax	-$16M
Other Non-Cash Items	$73M
Change in Working Capital	-$27M
OPERATING CASH FLOW	$191M
Capital Expenditure	-$16M
Acquisitions (Net)	$0
Purchases of Investments	-$1.2B
Sales/Maturities of Investments	$1.4B
Other Investing Activities	-$436M
NET CASH FROM INVESTING	-$193M
Net Debt Issuance	-$186M
Common Stock Repurchased	$0
Common Dividends Paid	-$117M
Other Financing Activities	$309M
NET CASH FROM FINANCING	$14M
FREE CASH FLOW	$175M
Net Change in Cash	$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$379M
Short-Term Investments	$567M
Net Receivables	$127M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$265M
Goodwill	$318M
Intangible Assets	$21M
Long-Term Investments	$11.6B
Tax Assets	$0
Other Non-Current Assets	$926M
TOTAL NON-CURRENT ASSETS	$13.2B
TOTAL ASSETS	$14.3B
Account Payables	$0
Short-Term Debt	$800M
Deferred Revenue	$0
Other Current Liabilities	$9.7B
TOTAL CURRENT LIABILITIES	$10.7B
Long-Term Debt	$2.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$6M
TOTAL NON-CURRENT LIABILITIES	$2.3B
TOTAL LIABILITIES	$13.0B
Common Stock	$60M
Additional Paid-In Capital	$1.2B
Retained Earnings	$79M
Treasury Stock	-$412.0K
Accum. Other Comp. Income	-$62M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$14.3B
Total Debt	$3.1B
Net Debt	$2.7B