WSFS FY 2011 Earnings Report — WSFS Financial Corporation Revenue & Financial Results | Market Cap Arena

WSFS Financial CorporationWSFS

FY 2011 Earnings

Reported March 15, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$213M	—	$206M	—	3.6%
Op. Income	$34M	—	$20M	—	74.5%
Gross Margin	71.6%	—	59.4%	—	12.2pp
Net Margin	10.6%	—	6.9%	—	3.8pp
EPS (Diluted)	$0.76	—	$0.44	—	72.7%
Free Cash Flow	$66M	—	$56M	—	17.1%

Revenue Flow

Item	Amount
REVENUE	$213M
Cost of Revenue	$61M
GROSS PROFIT	$153M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$71M
SG&A Expenses	$75M
Other Expenses	$43M
Operating Expenses	$119M
Cost & Expenses	$179M
OPERATING INCOME	$34M
Interest Income	$159M
Interest Expense	$33M
Other Income/Expenses	$0
INCOME BEFORE TAX	$34M
Income Tax Expense	$11M
Net Income from Continuing Ops	$23M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$23M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$20M
D&A	$11M
EBIT	$34M
EBITDA	$45M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$213M
Cost of Revenue	$61M
GROSS PROFIT	$153M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$71M
SG&A Expenses	$75M
Other Expenses	$43M
Operating Expenses	$119M
Cost & Expenses	$179M
OPERATING INCOME	$34M
Interest Income	$159M
Interest Expense	$33M
Other Income/Expenses	$0
INCOME BEFORE TAX	$34M
Income Tax Expense	$11M
Net Income from Continuing Ops	$23M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$23M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$20M
D&A	$11M
EBIT	$34M
EBITDA	$45M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$23M
Depreciation & Amortization	$11M
Stock-Based Compensation	$2M
Deferred Income Tax	$3M
Other Non-Cash Items	$31M
Change in Working Capital	$7M
OPERATING CASH FLOW	$76M
Capital Expenditure	-$10M
Acquisitions (Net)	$0
Purchases of Investments	-$621M
Sales/Maturities of Investments	$526M
Other Investing Activities	-$173M
NET CASH FROM INVESTING	-$281M
Net Debt Issuance	$50M
Common Stock Repurchased	$0
Common Dividends Paid	-$7M
Other Financing Activities	$252M
NET CASH FROM FINANCING	$296M
FREE CASH FLOW	$66M
Net Change in Cash	$91M

Balance Sheet

Item	Amount
Cash & Equivalents	$468M
Short-Term Investments	$859M
Net Receivables	$12M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$36M
Goodwill	$28M
Intangible Assets	$6M
Long-Term Investments	$2.7B
Tax Assets	$0
Other Non-Current Assets	$167M
TOTAL NON-CURRENT ASSETS	$2.9B
TOTAL ASSETS	$4.3B
Account Payables	$2M
Short-Term Debt	$50M
Deferred Revenue	$0
Other Current Liabilities	$3.1B
TOTAL CURRENT LIABILITIES	$3.2B
Long-Term Debt	$674M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$36M
TOTAL NON-CURRENT LIABILITIES	$710M
TOTAL LIABILITIES	$3.9B
Common Stock	$182.0K
Additional Paid-In Capital	$220M
Retained Earnings	$409M
Treasury Stock	-$248M
Accum. Other Comp. Income	$11M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$392M
Minority Interest	$0
TOTAL EQUITY	$392M
TOTAL LIABILITIES & EQUITY	$4.3B
Total Debt	$724M
Net Debt	$256M