WSBC FY 2013 Earnings Report — WesBanco, Inc. Revenue & Financial Results | Market Cap Arena

WesBanco, Inc.WSBC

FY 2013 Earnings

Reported February 28, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$283M	—	$273M	—	3.7%
Op. Income	$85M	—	$63M	—	34.1%
Gross Margin	85.3%	—	76.8%	—	8.5pp
Net Margin	22.6%	—	18.2%	—	4.4pp
EPS (Diluted)	$2.18	—	$1.84	—	18.5%
Free Cash Flow	$103M	—	$71M	—	44.9%

Revenue Flow

Item	Amount
REVENUE	$283M
Cost of Revenue	$41M
GROSS PROFIT	$241M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$101M
SG&A Expenses	$106M
Other Expenses	$50M
Operating Expenses	$157M
Cost & Expenses	$198M
OPERATING INCOME	$85M
Interest Income	$218M
Interest Expense	$32M
Other Income/Expenses	$0
INCOME BEFORE TAX	$85M
Income Tax Expense	$21M
Net Income from Continuing Ops	$64M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$64M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$64M
D&A	$7M
EBIT	$85M
EBITDA	$92M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$283M
Cost of Revenue	$41M
GROSS PROFIT	$241M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$101M
SG&A Expenses	$106M
Other Expenses	$50M
Operating Expenses	$157M
Cost & Expenses	$198M
OPERATING INCOME	$85M
Interest Income	$218M
Interest Expense	$32M
Other Income/Expenses	$0
INCOME BEFORE TAX	$85M
Income Tax Expense	$21M
Net Income from Continuing Ops	$64M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$64M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$64M
D&A	$7M
EBIT	$85M
EBITDA	$92M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$64M
Depreciation & Amortization	$7M
Stock-Based Compensation	$0
Deferred Income Tax	$7M
Other Non-Cash Items	$17M
Change in Working Capital	$18M
OPERATING CASH FLOW	$111M
Capital Expenditure	-$9M
Acquisitions (Net)	$0
Purchases of Investments	-$282M
Sales/Maturities of Investments	$337M
Other Investing Activities	-$210M
NET CASH FROM INVESTING	-$164M
Net Debt Issuance	-$91M
Common Stock Repurchased	-$6M
Common Dividends Paid	-$22M
Other Financing Activities	$139M
NET CASH FROM FINANCING	$23M
FREE CASH FLOW	$103M
Net Change in Cash	-$30M

Balance Sheet

Item	Amount
Cash & Equivalents	$96M
Short-Term Investments	$934M
Net Receivables	$19M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.0B
PP&E (Net)	$93M
Goodwill	$312M
Intangible Assets	$9M
Long-Term Investments	$4.5B
Tax Assets	$0
Other Non-Current Assets	$229M
TOTAL NON-CURRENT ASSETS	$5.1B
TOTAL ASSETS	$6.1B
Account Payables	$2M
Short-Term Debt	$151M
Deferred Revenue	$0
Other Current Liabilities	$5.1B
TOTAL CURRENT LIABILITIES	$5.2B
Long-Term Debt	$146M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$37M
TOTAL NON-CURRENT LIABILITIES	$183M
TOTAL LIABILITIES	$5.4B
Common Stock	$61M
Additional Paid-In Capital	$245M
Retained Earnings	$460M
Treasury Stock	-$6M
Accum. Other Comp. Income	-$14M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$747M
Minority Interest	$0
TOTAL EQUITY	$747M
TOTAL LIABILITIES & EQUITY	$6.1B
Total Debt	$296M
Net Debt	$201M