WAFD FY 2009 Earnings Report — WaFd, Inc. Revenue & Financial Results | Market Cap Arena

FY 2009 Earnings

Reported November 2, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$694M	—	$729M	—	-4.7%
Op. Income	$76M	—	$96M	—	-21.0%
Gross Margin	26.3%	—	37.1%	—	-10.8pp
Net Margin	6.9%	—	8.6%	—	-1.6pp
EPS (Diluted)	$0.46	—	$0.71	—	-35.2%
Free Cash Flow	$179M	—	$140M	—	27.9%

Revenue Flow

Item	Amount
REVENUE	$694M
Cost of Revenue	$512M
GROSS PROFIT	$183M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$68M
SG&A Expenses	$68M
Other Expenses	$39M
Operating Expenses	$107M
Cost & Expenses	$619M
OPERATING INCOME	$76M
Interest Income	$692M
Interest Expense	$319M
Other Income/Expenses	$0
INCOME BEFORE TAX	$76M
Income Tax Expense	$28M
Net Income from Continuing Ops	$48M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$48M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$41M
D&A	$5M
EBIT	$76M
EBITDA	$81M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$694M
Cost of Revenue	$512M
GROSS PROFIT	$183M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$68M
SG&A Expenses	$68M
Other Expenses	$39M
Operating Expenses	$107M
Cost & Expenses	$619M
OPERATING INCOME	$76M
Interest Income	$692M
Interest Expense	$319M
Other Income/Expenses	$0
INCOME BEFORE TAX	$76M
Income Tax Expense	$28M
Net Income from Continuing Ops	$48M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$48M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$41M
D&A	$5M
EBIT	$76M
EBITDA	$81M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$48M
Depreciation & Amortization	$5M
Stock-Based Compensation	$1M
Deferred Income Tax	$0
Other Non-Cash Items	$213M
Change in Working Capital	-$83M
OPERATING CASH FLOW	$184M
Capital Expenditure	-$5M
Acquisitions (Net)	$0
Purchases of Investments	-$1.2B
Sales/Maturities of Investments	$553M
Other Investing Activities	$171M
NET CASH FROM INVESTING	-$457M
Net Debt Issuance	$376M
Common Stock Repurchased	-$200M
Common Dividends Paid	-$19M
Other Financing Activities	$1M
NET CASH FROM FINANCING	$688M
FREE CASH FLOW	$179M
Net Change in Cash	$416M

Balance Sheet

Item	Amount
Cash & Equivalents	$498M
Short-Term Investments	$0
Net Receivables	$53M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$552M
PP&E (Net)	$133M
Goodwill	$252M
Intangible Assets	$5M
Long-Term Investments	$11.5B
Tax Assets	$0
Other Non-Current Assets	$176M
TOTAL NON-CURRENT ASSETS	$12.0B
TOTAL ASSETS	$12.6B
Account Payables	$0
Short-Term Debt	$801M
Deferred Revenue	$0
Other Current Liabilities	$7.8B
TOTAL CURRENT LIABILITIES	$8.7B
Long-Term Debt	$2.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$38M
TOTAL NON-CURRENT LIABILITIES	$2.1B
TOTAL LIABILITIES	$10.8B
Common Stock	$129M
Additional Paid-In Capital	$1.6B
Retained Earnings	$196M
Treasury Stock	-$209M
Accum. Other Comp. Income	$54M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$12.6B
Total Debt	$2.9B
Net Debt	$2.4B