WSBC FY 2008 Earnings Report — WesBanco, Inc. Revenue & Financial Results | Market Cap Arena

WesBanco, Inc.WSBC

FY 2008 Earnings

Reported March 10, 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	$339M	—	$289M	—	17.2%
Op. Income	$43M	—	$53M	—	-19.1%
Gross Margin	54.6%	—	56.6%	—	-2.0pp
Net Margin	11.2%	—	15.4%	—	-4.2pp
EPS (Diluted)	$1.43	—	$2.09	—	-31.6%
Free Cash Flow	$58M	—	$49M	—	17.0%

Revenue Flow

Item	Amount
REVENUE	$339M
Cost of Revenue	$154M
GROSS PROFIT	$185M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$73M
SG&A Expenses	$78M
Other Expenses	$64M
Operating Expenses	$143M
Cost & Expenses	$297M
OPERATING INCOME	$43M
Interest Income	$282M
Interest Expense	$121M
Other Income/Expenses	$0
INCOME BEFORE TAX	$43M
Income Tax Expense	$4M
Net Income from Continuing Ops	$38M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$38M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$38M
D&A	$6M
EBIT	$43M
EBITDA	$49M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$339M
Cost of Revenue	$154M
GROSS PROFIT	$185M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$73M
SG&A Expenses	$78M
Other Expenses	$64M
Operating Expenses	$143M
Cost & Expenses	$297M
OPERATING INCOME	$43M
Interest Income	$282M
Interest Expense	$121M
Other Income/Expenses	$0
INCOME BEFORE TAX	$43M
Income Tax Expense	$4M
Net Income from Continuing Ops	$38M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$38M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$38M
D&A	$6M
EBIT	$43M
EBITDA	$49M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$38M
Depreciation & Amortization	$6M
Stock-Based Compensation	$0
Deferred Income Tax	-$5M
Other Non-Cash Items	$30M
Change in Working Capital	-$4M
OPERATING CASH FLOW	$65M
Capital Expenditure	-$7M
Acquisitions (Net)	$0
Purchases of Investments	-$246M
Sales/Maturities of Investments	$258M
Other Investing Activities	$71M
NET CASH FROM INVESTING	$77M
Net Debt Issuance	$110M
Common Stock Repurchased	$0
Common Dividends Paid	-$30M
Other Financing Activities	-$339M
NET CASH FROM FINANCING	-$131M
FREE CASH FLOW	$58M
Net Change in Cash	$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$141M
Short-Term Investments	$0
Net Receivables	$20M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$161M
PP&E (Net)	$94M
Goodwill	$0
Intangible Assets	$20M
Long-Term Investments	$4.5B
Tax Assets	$0
Other Non-Current Assets	$205M
TOTAL NON-CURRENT ASSETS	$5.1B
TOTAL ASSETS	$5.2B
Account Payables	$10M
Short-Term Debt	$298M
Deferred Revenue	$0
Other Current Liabilities	$3.5B
TOTAL CURRENT LIABILITIES	$3.8B
Long-Term Debt	$708M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$42M
TOTAL NON-CURRENT LIABILITIES	$750M
TOTAL LIABILITIES	$4.6B
Common Stock	$55M
Additional Paid-In Capital	$193M
Retained Earnings	$344M
Treasury Stock	-$2M
Accum. Other Comp. Income	-$3M
Other Equity	-$1M
TOTAL STOCKHOLDERS' EQUITY	$659M
Minority Interest	$0
TOTAL EQUITY	$659M
TOTAL LIABILITIES & EQUITY	$5.2B
Total Debt	$1.0B
Net Debt	$865M