WAL FY 2013 Earnings Report — Western Alliance Bancorporation Revenue & Financial Results | Market Cap Arena

Western Alliance BancorporationWAL

FY 2013 Earnings

Reported February 21, 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	$373M	—	$334M	—	11.5%
Op. Income	$146M	—	$101M	—	44.1%
Gross Margin	88.5%	—	77.6%	—	10.9pp
Net Margin	30.9%	—	21.7%	—	9.1pp
EPS (Diluted)	$1.31	—	$0.83	—	57.8%
Free Cash Flow	$58M	—	$19M	—	205.3%

Revenue Flow

Item	Amount
REVENUE	$373M
Cost of Revenue	$43M
GROSS PROFIT	$330M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$113M
SG&A Expenses	$116M
Other Expenses	$68M
Operating Expenses	$184M
Cost & Expenses	$227M
OPERATING INCOME	$146M
Interest Income	$363M
Interest Expense	$30M
Other Income/Expenses	$0
INCOME BEFORE TAX	$146M
Income Tax Expense	$30M
Net Income from Continuing Ops	$116M
Net Income from Discontinued Ops	-$861.0K
Other Adjustments	$0
NET INCOME	$115M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$114M
D&A	$2M
EBIT	$146M
EBITDA	$148M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$373M
Cost of Revenue	$43M
GROSS PROFIT	$330M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$113M
SG&A Expenses	$116M
Other Expenses	$68M
Operating Expenses	$184M
Cost & Expenses	$227M
OPERATING INCOME	$146M
Interest Income	$363M
Interest Expense	$30M
Other Income/Expenses	$0
INCOME BEFORE TAX	$146M
Income Tax Expense	$30M
Net Income from Continuing Ops	$116M
Net Income from Discontinued Ops	-$861.0K
Other Adjustments	$0
NET INCOME	$115M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$114M
D&A	$2M
EBIT	$146M
EBITDA	$148M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$115M
Depreciation & Amortization	$9M
Stock-Based Compensation	$8M
Deferred Income Tax	-$12M
Other Non-Cash Items	-$113M
Change in Working Capital	$52M
OPERATING CASH FLOW	$58M
Capital Expenditure	-$481.0K
Acquisitions (Net)	-$42M
Purchases of Investments	-$2M
Sales/Maturities of Investments	$7M
Other Investing Activities	-$26M
NET CASH FROM INVESTING	-$64M
Net Debt Issuance	-$8M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$6M
NET CASH FROM FINANCING	-$3M
FREE CASH FLOW	$58M
Net Change in Cash	-$9M

Balance Sheet

Item	Amount
Cash & Equivalents	$306M
Short-Term Investments	$1.4B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.7B
PP&E (Net)	$106M
Goodwill	$23M
Intangible Assets	$4M
Long-Term Investments	$7.0B
Tax Assets	$81M
Other Non-Current Assets	$423M
TOTAL NON-CURRENT ASSETS	$7.6B
TOTAL ASSETS	$9.3B
Account Payables	$0
Short-Term Debt	$100M
Deferred Revenue	$0
Other Current Liabilities	$7.8B
TOTAL CURRENT LIABILITIES	$7.9B
Long-Term Debt	$354M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$159M
TOTAL NON-CURRENT LIABILITIES	$514M
TOTAL LIABILITIES	$8.5B
Common Stock	$9.0K
Additional Paid-In Capital	$797M
Retained Earnings	-$61M
Treasury Stock	$0
Accum. Other Comp. Income	-$22M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$855M
Minority Interest	$0
TOTAL EQUITY	$855M
TOTAL LIABILITIES & EQUITY	$9.3B
Total Debt	$454M
Net Debt	$149M