VLY FY 2013 Earnings Report — Valley National Bancorp Revenue & Financial Results | Market Cap Arena

Valley National BancorpVLY

FY 2013 Earnings

Reported March 3, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$745M	—	$792M	—	-6.0%
Op. Income	$179M	—	$210M	—	-14.9%
Gross Margin	75.2%	—	73.9%	—	1.3pp
Net Margin	17.7%	—	18.1%	—	-0.4pp
EPS (Diluted)	$0.66	—	$0.73	—	-9.6%
Free Cash Flow	$285M	—	$323M	—	-11.7%

Revenue Flow

Item	Amount
REVENUE	$745M
Cost of Revenue	$184M
GROSS PROFIT	$560M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$211M
SG&A Expenses	$211M
Other Expenses	$170M
Operating Expenses	$381M
Cost & Expenses	$566M
OPERATING INCOME	$179M
Interest Income	$616M
Interest Expense	$168M
Other Income/Expenses	$0
INCOME BEFORE TAX	$179M
Income Tax Expense	$47M
Net Income from Continuing Ops	$132M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$132M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$132M
D&A	$28M
EBIT	$179M
EBITDA	$207M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$745M
Cost of Revenue	$184M
GROSS PROFIT	$560M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$211M
SG&A Expenses	$211M
Other Expenses	$170M
Operating Expenses	$381M
Cost & Expenses	$566M
OPERATING INCOME	$179M
Interest Income	$616M
Interest Expense	$168M
Other Income/Expenses	$0
INCOME BEFORE TAX	$179M
Income Tax Expense	$47M
Net Income from Continuing Ops	$132M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$132M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$132M
D&A	$28M
EBIT	$179M
EBITDA	$207M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$132M
Depreciation & Amortization	$28M
Stock-Based Compensation	$6M
Deferred Income Tax	$30M
Other Non-Cash Items	$112M
Change in Working Capital	-$23M
OPERATING CASH FLOW	$285M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$908M
Sales/Maturities of Investments	$713M
Other Investing Activities	-$591M
NET CASH FROM INVESTING	-$786M
Net Debt Issuance	$84M
Common Stock Repurchased	-$768.0K
Common Dividends Paid	-$129M
Other Financing Activities	$55M
NET CASH FROM FINANCING	$17M
FREE CASH FLOW	$285M
Net Change in Cash	-$484M

Balance Sheet

Item	Amount
Cash & Equivalents	$369M
Short-Term Investments	$830M
Net Receivables	$87M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$270M
Goodwill	$428M
Intangible Assets	$36M
Long-Term Investments	$13.2B
Tax Assets	$0
Other Non-Current Assets	$940M
TOTAL NON-CURRENT ASSETS	$14.9B
TOTAL ASSETS	$16.2B
Account Payables	$0
Short-Term Debt	$869M
Deferred Revenue	$0
Other Current Liabilities	$11.3B
TOTAL CURRENT LIABILITIES	$12.4B
Long-Term Debt	$2.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$5M
TOTAL NON-CURRENT LIABILITIES	$2.3B
TOTAL LIABILITIES	$14.6B
Common Stock	$70M
Additional Paid-In Capital	$1.4B
Retained Earnings	$106M
Treasury Stock	-$364.0K
Accum. Other Comp. Income	-$38M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$16.2B
Total Debt	$3.1B
Net Debt	$2.7B