WSFS FY 2013 Earnings Report — WSFS Financial Corporation Revenue & Financial Results | Market Cap Arena

WSFS Financial CorporationWSFS

FY 2013 Earnings

Reported March 17, 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	$227M	—	$230M	—	-1.3%
Op. Income	$73M	—	$48M	—	50.8%
Gross Margin	90.1%	—	76.0%	—	14.1pp
Net Margin	20.6%	—	13.6%	—	7.0pp
EPS (Diluted)	$1.69	—	$1.08	—	56.5%
Free Cash Flow	$55M	—	$95M	—	-42.6%

Revenue Flow

Item	Amount
REVENUE	$227M
Cost of Revenue	$23M
GROSS PROFIT	$205M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$74M
SG&A Expenses	$77M
Other Expenses	$55M
Operating Expenses	$132M
Cost & Expenses	$154M
OPERATING INCOME	$73M
Interest Income	$147M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$73M
Income Tax Expense	$26M
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$45M
D&A	$7M
EBIT	$73M
EBITDA	$80M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$227M
Cost of Revenue	$23M
GROSS PROFIT	$205M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$74M
SG&A Expenses	$77M
Other Expenses	$55M
Operating Expenses	$132M
Cost & Expenses	$154M
OPERATING INCOME	$73M
Interest Income	$147M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$73M
Income Tax Expense	$26M
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$45M
D&A	$7M
EBIT	$73M
EBITDA	$80M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$47M
Depreciation & Amortization	$7M
Stock-Based Compensation	$4M
Deferred Income Tax	$755.0K
Other Non-Cash Items	$10M
Change in Working Capital	-$11M
OPERATING CASH FLOW	$57M
Capital Expenditure	-$3M
Acquisitions (Net)	-$4M
Purchases of Investments	-$336M
Sales/Maturities of Investments	$365M
Other Investing Activities	-$195M
NET CASH FROM INVESTING	-$172M
Net Debt Issuance	$257M
Common Stock Repurchased	$0
Common Dividends Paid	-$6M
Other Financing Activities	-$104M
NET CASH FROM FINANCING	$99M
FREE CASH FLOW	$55M
Net Change in Cash	-$16M

Balance Sheet

Item	Amount
Cash & Equivalents	$484M
Short-Term Investments	$817M
Net Receivables	$11M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$35M
Goodwill	$32M
Intangible Assets	$7M
Long-Term Investments	$3.0B
Tax Assets	$0
Other Non-Current Assets	$155M
TOTAL NON-CURRENT ASSETS	$3.2B
TOTAL ASSETS	$4.5B
Account Payables	$838.0K
Short-Term Debt	$97M
Deferred Revenue	$0
Other Current Liabilities	$3.2B
TOTAL CURRENT LIABILITIES	$3.3B
Long-Term Debt	$785M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$41M
TOTAL NON-CURRENT LIABILITIES	$826M
TOTAL LIABILITIES	$4.1B
Common Stock	$185.0K
Additional Paid-In Capital	$178M
Retained Earnings	$474M
Treasury Stock	-$248M
Accum. Other Comp. Income	-$21M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$383M
Minority Interest	$0
TOTAL EQUITY	$383M
TOTAL LIABILITIES & EQUITY	$4.5B
Total Debt	$882M
Net Debt	$398M