WNEB FY 2008 Earnings Report — Western New England Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

Western New England Bancorp, Inc.WNEB

FY 2008 Earnings

Reported March 13, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$59M	—	$58M	—	1.2%
Op. Income	$8M	—	$13M	—	-32.2%
Gross Margin	56.2%	—	59.1%	—	-2.8pp
Net Margin	11.4%	—	15.0%	—	-3.6pp
EPS (Diluted)	$0.22	—	$0.29	—	-24.1%
Free Cash Flow	$11M	—	$12M	—	-12.0%

Revenue Flow

Item	Amount
REVENUE	$59M
Cost of Revenue	$26M
GROSS PROFIT	$33M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$17M
SG&A Expenses	$17M
Other Expenses	$8M
Operating Expenses	$25M
Cost & Expenses	$50M
OPERATING INCOME	$8M
Interest Income	$54M
Interest Expense	$22M
Other Income/Expenses	$0
INCOME BEFORE TAX	$8M
Income Tax Expense	$2M
Net Income from Continuing Ops	$7M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7M
D&A	$1M
EBIT	$8M
EBITDA	$10M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$59M
Cost of Revenue	$26M
GROSS PROFIT	$33M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$17M
SG&A Expenses	$17M
Other Expenses	$8M
Operating Expenses	$25M
Cost & Expenses	$50M
OPERATING INCOME	$8M
Interest Income	$54M
Interest Expense	$22M
Other Income/Expenses	$0
INCOME BEFORE TAX	$8M
Income Tax Expense	$2M
Net Income from Continuing Ops	$7M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7M
D&A	$1M
EBIT	$8M
EBITDA	$10M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$7M
Depreciation & Amortization	$1M
Stock-Based Compensation	$2M
Deferred Income Tax	-$1M
Other Non-Cash Items	$3M
Change in Working Capital	-$671.0K
OPERATING CASH FLOW	$11M
Capital Expenditure	-$536.0K
Acquisitions (Net)	$0
Purchases of Investments	-$199M
Sales/Maturities of Investments	$62M
Other Investing Activities	$103M
NET CASH FROM INVESTING	-$34M
Net Debt Issuance	$83M
Common Stock Repurchased	-$10M
Common Dividends Paid	-$18M
Other Financing Activities	-$14M
NET CASH FROM FINANCING	$42M
FREE CASH FLOW	$11M
Net Change in Cash	$19M

Balance Sheet

Item	Amount
Cash & Equivalents	$57M
Short-Term Investments	$0
Net Receivables	$5M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$62M
PP&E (Net)	$12M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$978M
Tax Assets	$11M
Other Non-Current Assets	$47M
TOTAL NON-CURRENT ASSETS	$1.0B
TOTAL ASSETS	$1.1B
Account Payables	$0
Short-Term Debt	$50M
Deferred Revenue	$0
Other Current Liabilities	$588M
TOTAL CURRENT LIABILITIES	$638M
Long-Term Debt	$173M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$38M
TOTAL NON-CURRENT LIABILITIES	$211M
TOTAL LIABILITIES	$849M
Common Stock	$313.0K
Additional Paid-In Capital	$205M
Retained Earnings	$79M
Treasury Stock	$0
Accum. Other Comp. Income	-$9M
Other Equity	-$15M
TOTAL STOCKHOLDERS' EQUITY	$260M
Minority Interest	$0
TOTAL EQUITY	$260M
TOTAL LIABILITIES & EQUITY	$1.1B
Total Debt	$223M
Net Debt	$167M