WAL FY 2007 Earnings Report — Western Alliance Bancorporation Revenue & Financial Results | Market Cap Arena

Western Alliance BancorporationWAL

FY 2007 Earnings

Reported February 25, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$328M	—	$102M	—	220.7%
Op. Income	$48M	—	$61M	—	-21.3%
Gross Margin	55.5%	—	13.1%	—	42.4pp
Net Margin	10.0%	—	39.0%	—	-28.9pp
EPS (Diluted)	$1.06	—	$1.41	—	-24.8%
Free Cash Flow	$19M	—	$9M	—	119.8%

Revenue Flow

Item	Amount
REVENUE	$328M
Cost of Revenue	$146M
GROSS PROFIT	$182M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$77M
SG&A Expenses	$83M
Other Expenses	$50M
Operating Expenses	$134M
Cost & Expenses	$280M
OPERATING INCOME	$48M
Interest Income	$306M
Interest Expense	$126M
Other Income/Expenses	$0
INCOME BEFORE TAX	$48M
Income Tax Expense	$16M
Net Income from Continuing Ops	$33M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$33M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$33M
D&A	$13M
EBIT	$48M
EBITDA	$61M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$328M
Cost of Revenue	$146M
GROSS PROFIT	$182M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$77M
SG&A Expenses	$83M
Other Expenses	$50M
Operating Expenses	$134M
Cost & Expenses	$280M
OPERATING INCOME	$48M
Interest Income	$306M
Interest Expense	$126M
Other Income/Expenses	$0
INCOME BEFORE TAX	$48M
Income Tax Expense	$16M
Net Income from Continuing Ops	$33M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$33M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$33M
D&A	$13M
EBIT	$48M
EBITDA	$61M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$33M
Depreciation & Amortization	$13M
Stock-Based Compensation	$0
Deferred Income Tax	-$4M
Other Non-Cash Items	$27M
Change in Working Capital	-$13M
OPERATING CASH FLOW	$55M
Capital Expenditure	-$36M
Acquisitions (Net)	$47M
Purchases of Investments	-$384M
Sales/Maturities of Investments	$197M
Other Investing Activities	-$350M
NET CASH FROM INVESTING	-$527M
Net Debt Issuance	$594M
Common Stock Repurchased	-$19M
Common Dividends Paid	$0
Other Financing Activities	-$256M
NET CASH FROM FINANCING	$323M
FREE CASH FLOW	$19M
Net Change in Cash	-$149M

Balance Sheet

Item	Amount
Cash & Equivalents	$105M
Short-Term Investments	$0
Net Receivables	$22M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$127M
PP&E (Net)	$143M
Goodwill	$0
Intangible Assets	$22M
Long-Term Investments	$4.3B
Tax Assets	$0
Other Non-Current Assets	$184M
TOTAL NON-CURRENT ASSETS	$4.9B
TOTAL ASSETS	$5.0B
Account Payables	$26M
Short-Term Debt	$764M
Deferred Revenue	$0
Other Current Liabilities	$3.5B
TOTAL CURRENT LIABILITIES	$4.3B
Long-Term Debt	$178M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$178M
TOTAL LIABILITIES	$4.5B
Common Stock	$3.0K
Additional Paid-In Capital	$378M
Retained Earnings	$152M
Treasury Stock	$0
Accum. Other Comp. Income	-$29M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$502M
Minority Interest	$110.0K
TOTAL EQUITY	$502M
TOTAL LIABILITIES & EQUITY	$5.0B
Total Debt	$942M
Net Debt	$837M