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

WesBanco, Inc.WSBCO

FY 2008 Earnings

Reported December 30, 2008

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	$452M	—	$289M	—	56.5%
Op. Income	$43M	—	$53M	—	-19.1%
Gross Margin	66.0%	—	56.6%	—	9.4pp
Net Margin	8.4%	—	15.5%	—	-7.0pp
EPS (Diluted)	$1.42	—	$2.09	—	-32.1%
Free Cash Flow	$58M	—	$49M	—	17.0%

Revenue Flow

Item	Amount
REVENUE	$452M
Cost of Revenue	$154M
GROSS PROFIT	$299M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$86M
SG&A Expenses	$86M
Other Expenses	$170M
Operating Expenses	$256M
Cost & Expenses	$410M
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	$7M
EBIT	$43M
EBITDA	$50M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$452M
Cost of Revenue	$154M
GROSS PROFIT	$299M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$86M
SG&A Expenses	$86M
Other Expenses	$170M
Operating Expenses	$256M
Cost & Expenses	$410M
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	$7M
EBIT	$43M
EBITDA	$50M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$38M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
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	$162M
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	$0

Balance Sheet

Item	Amount
Cash & Equivalents	$76M
Short-Term Investments	$0
Net Receivables	$20M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$96M
PP&E (Net)	$94M
Goodwill	$254M
Intangible Assets	$14M
Long-Term Investments	$4.6B
Tax Assets	$0
Other Non-Current Assets	$192M
TOTAL NON-CURRENT ASSETS	$5.1B
TOTAL ASSETS	$5.2B
Account Payables	$0
Short-Term Debt	$395M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$395M
Long-Term Debt	$610M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$3.6B
TOTAL NON-CURRENT LIABILITIES	$4.2B
TOTAL LIABILITIES	$4.6B
Common Stock	$55M
Additional Paid-In Capital	$191M
Retained Earnings	$344M
Treasury Stock	-$2M
Accum. Other Comp. Income	$11M
Other Equity	-$15M
TOTAL STOCKHOLDERS' EQUITY	$659M
Minority Interest	$0
TOTAL EQUITY	$659M
TOTAL LIABILITIES & EQUITY	$5.2B
Total Debt	$1.0B
Net Debt	$930M