WSBC FY 2010 Earnings Report — WesBanco, Inc. Revenue & Financial Results | Market Cap Arena

WesBanco, Inc.WSBC

FY 2010 Earnings

Reported March 1, 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	$293M	—	$322M	—	-8.9%
Op. Income	$40M	—	$23M	—	74.2%
Gross Margin	60.8%	—	53.6%	—	7.2pp
Net Margin	12.1%	—	7.4%	—	4.7pp
EPS (Diluted)	$1.34	—	$0.70	—	91.4%
Free Cash Flow	$101M	—	$39M	—	161.4%

Revenue Flow

Item	Amount
REVENUE	$293M
Cost of Revenue	$115M
GROSS PROFIT	$178M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$88M
SG&A Expenses	$92M
Other Expenses	$46M
Operating Expenses	$138M
Cost & Expenses	$253M
OPERATING INCOME	$40M
Interest Income	$237M
Interest Expense	$70M
Other Income/Expenses	$0
INCOME BEFORE TAX	$40M
Income Tax Expense	$4M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$36M
D&A	$7M
EBIT	$40M
EBITDA	$47M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$293M
Cost of Revenue	$115M
GROSS PROFIT	$178M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$88M
SG&A Expenses	$92M
Other Expenses	$46M
Operating Expenses	$138M
Cost & Expenses	$253M
OPERATING INCOME	$40M
Interest Income	$237M
Interest Expense	$70M
Other Income/Expenses	$0
INCOME BEFORE TAX	$40M
Income Tax Expense	$4M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$36M
D&A	$7M
EBIT	$40M
EBITDA	$47M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$36M
Depreciation & Amortization	$7M
Stock-Based Compensation	$0
Deferred Income Tax	-$3M
Other Non-Cash Items	$52M
Change in Working Capital	$13M
OPERATING CASH FLOW	$104M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$797M
Sales/Maturities of Investments	$624M
Other Investing Activities	$131M
NET CASH FROM INVESTING	-$44M
Net Debt Issuance	-$242M
Common Stock Repurchased	$0
Common Dividends Paid	-$15M
Other Financing Activities	$193M
NET CASH FROM FINANCING	-$64M
FREE CASH FLOW	$101M
Net Change in Cash	-$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$79M
Short-Term Investments	$0
Net Receivables	$21M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$100M
PP&E (Net)	$86M
Goodwill	$0
Intangible Assets	$21M
Long-Term Investments	$4.7B
Tax Assets	$0
Other Non-Current Assets	$226M
TOTAL NON-CURRENT ASSETS	$5.3B
TOTAL ASSETS	$5.4B
Account Payables	$7M
Short-Term Debt	$187M
Deferred Revenue	$0
Other Current Liabilities	$4.2B
TOTAL CURRENT LIABILITIES	$4.4B
Long-Term Debt	$360M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$29M
TOTAL NON-CURRENT LIABILITIES	$388M
TOTAL LIABILITIES	$4.8B
Common Stock	$55M
Additional Paid-In Capital	$192M
Retained Earnings	$362M
Treasury Stock	-$1M
Accum. Other Comp. Income	$131.0K
Other Equity	-$1M
TOTAL STOCKHOLDERS' EQUITY	$607M
Minority Interest	$0
TOTAL EQUITY	$607M
TOTAL LIABILITIES & EQUITY	$5.4B
Total Debt	$547M
Net Debt	$468M