WSBC FY 2014 Earnings Report — WesBanco, Inc. Revenue & Financial Results | Market Cap Arena

WesBanco, Inc.WSBC

FY 2014 Earnings

Reported February 27, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$280M	—	$283M	—	-0.9%
Op. Income	$94M	—	$85M	—	10.6%
Gross Margin	89.6%	—	85.3%	—	4.3pp
Net Margin	25.0%	—	22.6%	—	2.4pp
EPS (Diluted)	$2.39	—	$2.18	—	9.6%
Free Cash Flow	$87M	—	$103M	—	-14.8%

Revenue Flow

Item	Amount
REVENUE	$280M
Cost of Revenue	$29M
GROSS PROFIT	$251M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$100M
SG&A Expenses	$105M
Other Expenses	$53M
Operating Expenses	$157M
Cost & Expenses	$187M
OPERATING INCOME	$94M
Interest Income	$216M
Interest Expense	$23M
Other Income/Expenses	$0
INCOME BEFORE TAX	$94M
Income Tax Expense	$24M
Net Income from Continuing Ops	$70M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$70M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$70M
D&A	$7M
EBIT	$94M
EBITDA	$101M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$280M
Cost of Revenue	$29M
GROSS PROFIT	$251M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$100M
SG&A Expenses	$105M
Other Expenses	$53M
Operating Expenses	$157M
Cost & Expenses	$187M
OPERATING INCOME	$94M
Interest Income	$216M
Interest Expense	$23M
Other Income/Expenses	$0
INCOME BEFORE TAX	$94M
Income Tax Expense	$24M
Net Income from Continuing Ops	$70M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$70M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$70M
D&A	$7M
EBIT	$94M
EBITDA	$101M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$70M
Depreciation & Amortization	$7M
Stock-Based Compensation	$0
Deferred Income Tax	$9M
Other Non-Cash Items	$5M
Change in Working Capital	$4M
OPERATING CASH FLOW	$95M
Capital Expenditure	-$7M
Acquisitions (Net)	$0
Purchases of Investments	-$247M
Sales/Maturities of Investments	$279M
Other Investing Activities	-$197M
NET CASH FROM INVESTING	-$173M
Net Debt Issuance	$133M
Common Stock Repurchased	$0
Common Dividends Paid	-$25M
Other Financing Activities	-$33M
NET CASH FROM FINANCING	$77M
FREE CASH FLOW	$87M
Net Change in Cash	-$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$94M
Short-Term Investments	$917M
Net Receivables	$18M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.0B
PP&E (Net)	$93M
Goodwill	$312M
Intangible Assets	$7M
Long-Term Investments	$4.6B
Tax Assets	$0
Other Non-Current Assets	$212M
TOTAL NON-CURRENT ASSETS	$5.3B
TOTAL ASSETS	$6.3B
Account Payables	$2M
Short-Term Debt	$81M
Deferred Revenue	$0
Other Current Liabilities	$5.0B
TOTAL CURRENT LIABILITIES	$5.1B
Long-Term Debt	$329M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$48M
TOTAL NON-CURRENT LIABILITIES	$377M
TOTAL LIABILITIES	$5.5B
Common Stock	$61M
Additional Paid-In Capital	$245M
Retained Earnings	$505M
Treasury Stock	-$2M
Accum. Other Comp. Income	-$20M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$788M
Minority Interest	$0
TOTAL EQUITY	$788M
TOTAL LIABILITIES & EQUITY	$6.3B
Total Debt	$410M
Net Debt	$316M