WSFS FY 2008 Earnings Report — WSFS Financial Corporation Revenue & Financial Results | Market Cap Arena

WSFS Financial CorporationWSFS

FY 2008 Earnings

Reported March 16, 2009

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	$212M	—	$238M	—	-10.6%
Op. Income	$23M	—	$43M	—	-46.5%
Gross Margin	52.8%	—	52.7%	—	0.1pp
Net Margin	7.6%	—	12.5%	—	-4.9pp
EPS (Diluted)	$0.86	—	$1.52	—	-43.4%
Free Cash Flow	$41M	—	$24M	—	76.0%

Revenue Flow

Item	Amount
REVENUE	$212M
Cost of Revenue	$100M
GROSS PROFIT	$112M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$52M
SG&A Expenses	$55M
Other Expenses	$34M
Operating Expenses	$89M
Cost & Expenses	$189M
OPERATING INCOME	$23M
Interest Income	$166M
Interest Expense	$77M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	$7M
Net Income from Continuing Ops	$16M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$16M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$16M
D&A	$6M
EBIT	$23M
EBITDA	$29M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$212M
Cost of Revenue	$100M
GROSS PROFIT	$112M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$52M
SG&A Expenses	$55M
Other Expenses	$34M
Operating Expenses	$89M
Cost & Expenses	$189M
OPERATING INCOME	$23M
Interest Income	$166M
Interest Expense	$77M
Other Income/Expenses	$0
INCOME BEFORE TAX	$23M
Income Tax Expense	$7M
Net Income from Continuing Ops	$16M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$16M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$16M
D&A	$6M
EBIT	$23M
EBITDA	$29M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$16M
Depreciation & Amortization	$6M
Stock-Based Compensation	$730.0K
Deferred Income Tax	$0
Other Non-Cash Items	$22M
Change in Working Capital	$822.0K
OPERATING CASH FLOW	$46M
Capital Expenditure	-$5M
Acquisitions (Net)	-$12M
Purchases of Investments	-$133M
Sales/Maturities of Investments	$101M
Other Investing Activities	-$240M
NET CASH FROM INVESTING	-$288M
Net Debt Issuance	-$82M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$3M
Other Financing Activities	$310M
NET CASH FROM FINANCING	$223M
FREE CASH FLOW	$41M
Net Change in Cash	-$19M

Balance Sheet

Item	Amount
Cash & Equivalents	$249M
Short-Term Investments	$0
Net Receivables	$38M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$287M
PP&E (Net)	$35M
Goodwill	$12M
Intangible Assets	$4M
Long-Term Investments	$3.0B
Tax Assets	$0
Other Non-Current Assets	$114M
TOTAL NON-CURRENT ASSETS	$3.1B
TOTAL ASSETS	$3.4B
Account Payables	$27M
Short-Term Debt	$184M
Deferred Revenue	$0
Other Current Liabilities	$2.1B
TOTAL CURRENT LIABILITIES	$2.3B
Long-Term Debt	$816M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$67M
TOTAL NON-CURRENT LIABILITIES	$883M
TOTAL LIABILITIES	$3.2B
Common Stock	$157.0K
Additional Paid-In Capital	$87M
Retained Earnings	$390M
Treasury Stock	-$248M
Accum. Other Comp. Income	-$13M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$217M
Minority Interest	$0
TOTAL EQUITY	$217M
TOTAL LIABILITIES & EQUITY	$3.4B
Total Debt	$992M
Net Debt	$751M