WSBC FY 2009 Earnings Report — WesBanco, Inc. Revenue & Financial Results | Market Cap Arena

WesBanco, Inc.WSBC

FY 2009 Earnings

Reported March 9, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$322M	—	$339M	—	-5.1%
Op. Income	$23M	—	$43M	—	-46.2%
Gross Margin	53.6%	—	54.6%	—	-1.0pp
Net Margin	7.4%	—	11.2%	—	-3.8pp
EPS (Diluted)	$0.70	—	$1.43	—	-51.0%
Free Cash Flow	$39M	—	$58M	—	-32.7%

Revenue Flow

Item	Amount
REVENUE	$322M
Cost of Revenue	$149M
GROSS PROFIT	$173M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$83M
SG&A Expenses	$88M
Other Expenses	$61M
Operating Expenses	$150M
Cost & Expenses	$299M
OPERATING INCOME	$23M
Interest Income	$257M
Interest Expense	$99M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	-$992.0K
Net Income from Continuing Ops	$24M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$10M
EBIT	$23M
EBITDA	$33M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$322M
Cost of Revenue	$149M
GROSS PROFIT	$173M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$83M
SG&A Expenses	$88M
Other Expenses	$61M
Operating Expenses	$150M
Cost & Expenses	$299M
OPERATING INCOME	$23M
Interest Income	$257M
Interest Expense	$99M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	-$992.0K
Net Income from Continuing Ops	$24M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$10M
EBIT	$23M
EBITDA	$33M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$24M
Depreciation & Amortization	$10M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$40M
Change in Working Capital	-$33M
OPERATING CASH FLOW	$41M
Capital Expenditure	-$3M
Acquisitions (Net)	$579M
Purchases of Investments	-$1.3B
Sales/Maturities of Investments	$938M
Other Investing Activities	$87M
NET CASH FROM INVESTING	$339M
Net Debt Issuance	-$160M
Common Stock Repurchased	-$75M
Common Dividends Paid	-$29M
Other Financing Activities	-$175M
NET CASH FROM FINANCING	-$439M
FREE CASH FLOW	$39M
Net Change in Cash	-$58M

Balance Sheet

Item	Amount
Cash & Equivalents	$83M
Short-Term Investments	$0
Net Receivables	$20M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$103M
PP&E (Net)	$90M
Goodwill	$0
Intangible Assets	$20M
Long-Term Investments	$4.7B
Tax Assets	$0
Other Non-Current Assets	$234M
TOTAL NON-CURRENT ASSETS	$5.3B
TOTAL ASSETS	$5.4B
Account Payables	$9M
Short-Term Debt	$189M
Deferred Revenue	$0
Other Current Liabilities	$4.0B
TOTAL CURRENT LIABILITIES	$4.2B
Long-Term Debt	$608M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$29M
TOTAL NON-CURRENT LIABILITIES	$637M
TOTAL LIABILITIES	$4.8B
Common Stock	$55M
Additional Paid-In Capital	$192M
Retained Earnings	$341M
Treasury Stock	-$1M
Accum. Other Comp. Income	$3M
Other Equity	-$1M
TOTAL STOCKHOLDERS' EQUITY	$589M
Minority Interest	$0
TOTAL EQUITY	$589M
TOTAL LIABILITIES & EQUITY	$5.4B
Total Debt	$796M
Net Debt	$713M