WBS FY 2010 Earnings Report — Webster Financial Corporation Revenue & Financial Results | Market Cap Arena

Webster Financial CorporationWBS

FY 2010 Earnings

Reported February 25, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$910M	—	$955M	—	-4.7%
Op. Income	$85M	—	-$129M	—	165.7%
Gross Margin	68.5%	—	42.0%	—	26.5pp
Net Margin	7.9%	—	-7.9%	—	15.9pp
EPS (Diluted)	$0.60	—	$-2.14	—	128.0%
Free Cash Flow	$318M	—	$82M	—	286.7%

Revenue Flow

Item	Amount
REVENUE	$910M
Cost of Revenue	$286M
GROSS PROFIT	$623M
R&D Expenses	$0
Selling & Marketing	$19M
General & Administrative	$270M
SG&A Expenses	$289M
Other Expenses	$250M
Operating Expenses	$539M
Cost & Expenses	$825M
OPERATING INCOME	$85M
Interest Income	$709M
Interest Expense	$171M
Other Income/Expenses	$0
INCOME BEFORE TAX	$85M
Income Tax Expense	$12M
Net Income from Continuing Ops	$72M
Net Income from Discontinued Ops	$94.0K
Other Adjustments	$0
NET INCOME	$72M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$93M
EBIT	$85M
EBITDA	$177M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$910M
Cost of Revenue	$286M
GROSS PROFIT	$623M
R&D Expenses	$0
Selling & Marketing	$19M
General & Administrative	$270M
SG&A Expenses	$289M
Other Expenses	$250M
Operating Expenses	$539M
Cost & Expenses	$825M
OPERATING INCOME	$85M
Interest Income	$709M
Interest Expense	$171M
Other Income/Expenses	$0
INCOME BEFORE TAX	$85M
Income Tax Expense	$12M
Net Income from Continuing Ops	$72M
Net Income from Discontinued Ops	$94.0K
Other Adjustments	$0
NET INCOME	$72M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$93M
EBIT	$85M
EBITDA	$177M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$72M
Depreciation & Amortization	$93M
Stock-Based Compensation	$7M
Deferred Income Tax	$12M
Other Non-Cash Items	$119M
Change in Working Capital	$34M
OPERATING CASH FLOW	$337M
Capital Expenditure	-$19M
Acquisitions (Net)	$0
Purchases of Investments	-$2.3B
Sales/Maturities of Investments	$1.6B
Other Investing Activities	$198M
NET CASH FROM INVESTING	-$518M
Net Debt Issuance	$225M
Common Stock Repurchased	-$402M
Common Dividends Paid	-$3M
Other Financing Activities	$249M
NET CASH FROM FINANCING	$169M
FREE CASH FLOW	$318M
Net Change in Cash	-$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$213M
Short-Term Investments	$0
Net Receivables	$259M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$529M
PP&E (Net)	$158M
Goodwill	$530M
Intangible Assets	$21M
Long-Term Investments	$16.2B
Tax Assets	$107M
Other Non-Current Assets	$454M
TOTAL NON-CURRENT ASSETS	$17.5B
TOTAL ASSETS	$18.0B
Account Payables	$0
Short-Term Debt	$1.1B
Deferred Revenue	$0
Other Current Liabilities	$13.6B
TOTAL CURRENT LIABILITIES	$14.9B
Long-Term Debt	$1.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$1.4B
TOTAL LIABILITIES	$16.3B
Common Stock	$907.0K
Additional Paid-In Capital	$1.2B
Retained Earnings	$742M
Treasury Stock	-$149M
Accum. Other Comp. Income	-$14M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.8B
Minority Interest	$10M
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$18.0B
Total Debt	$2.4B
Net Debt	$2.2B