WBS FY 2014 Earnings Report — Webster Financial Corporation Revenue & Financial Results | Market Cap Arena

Webster Financial CorporationWBS

FY 2014 Earnings

Reported February 27, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$921M	—	$879M	—	4.8%
Op. Income	$292M	—	$257M	—	13.7%
Gross Margin	86.1%	—	85.8%	—	0.3pp
Net Margin	21.7%	—	20.4%	—	1.3pp
EPS (Diluted)	$2.08	—	$1.86	—	11.8%
Free Cash Flow	$213M	—	$442M	—	-51.8%

Revenue Flow

Item	Amount
REVENUE	$921M
Cost of Revenue	$128M
GROSS PROFIT	$793M
R&D Expenses	$0
Selling & Marketing	$15M
General & Administrative	$293M
SG&A Expenses	$308M
Other Expenses	$193M
Operating Expenses	$501M
Cost & Expenses	$629M
OPERATING INCOME	$292M
Interest Income	$719M
Interest Expense	$91M
Other Income/Expenses	$0
INCOME BEFORE TAX	$292M
Income Tax Expense	$92M
Net Income from Continuing Ops	$200M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$200M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$188M
D&A	$31M
EBIT	$292M
EBITDA	$322M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$921M
Cost of Revenue	$128M
GROSS PROFIT	$793M
R&D Expenses	$0
Selling & Marketing	$15M
General & Administrative	$293M
SG&A Expenses	$308M
Other Expenses	$193M
Operating Expenses	$501M
Cost & Expenses	$629M
OPERATING INCOME	$292M
Interest Income	$719M
Interest Expense	$91M
Other Income/Expenses	$0
INCOME BEFORE TAX	$292M
Income Tax Expense	$92M
Net Income from Continuing Ops	$200M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$200M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$188M
D&A	$31M
EBIT	$292M
EBITDA	$322M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$199M
Depreciation & Amortization	$31M
Stock-Based Compensation	$10M
Deferred Income Tax	-$5M
Other Non-Cash Items	$66M
Change in Working Capital	-$58M
OPERATING CASH FLOW	$243M
Capital Expenditure	-$30M
Acquisitions (Net)	$0
Purchases of Investments	-$1.3B
Sales/Maturities of Investments	$1.1B
Other Investing Activities	-$1.4B
NET CASH FROM INVESTING	-$1.7B
Net Debt Issuance	$807M
Common Stock Repurchased	-$11M
Common Dividends Paid	-$67M
Other Financing Activities	$716M
NET CASH FROM FINANCING	$1.4B
FREE CASH FLOW	$213M
Net Change in Cash	$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$394M
Short-Term Investments	$2.8B
Net Receivables	$532M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.7B
PP&E (Net)	$122M
Goodwill	$530M
Intangible Assets	$3M
Long-Term Investments	$17.2B
Tax Assets	$74M
Other Non-Current Assets	$931M
TOTAL NON-CURRENT ASSETS	$18.8B
TOTAL ASSETS	$22.5B
Account Payables	$0
Short-Term Debt	$1.3B
Deferred Revenue	$0
Other Current Liabilities	$15.7B
TOTAL CURRENT LIABILITIES	$17.1B
Long-Term Debt	$3.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$3.1B
TOTAL LIABILITIES	$20.2B
Common Stock	$936.0K
Additional Paid-In Capital	$1.1B
Retained Earnings	$1.2B
Treasury Stock	-$103M
Accum. Other Comp. Income	-$56M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$0
TOTAL EQUITY	$2.3B
TOTAL LIABILITIES & EQUITY	$22.5B
Total Debt	$4.3B
Net Debt	$3.9B