WTBA FY 2007 Earnings Report — West Bancorporation, Inc. Revenue & Financial Results | Market Cap Arena

West Bancorporation, Inc.WTBA

FY 2007 Earnings

Reported March 7, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$98M	—	$96M	—	2.6%
Op. Income	$27M	—	$29M	—	-4.0%
Gross Margin	53.1%	—	55.8%	—	-2.7pp
Net Margin	19.2%	—	20.2%	—	-1.0pp
EPS (Diluted)	$1.08	—	$1.11	—	-2.7%
Free Cash Flow	$23M	—	$24M	—	-5.4%

Revenue Flow

Item	Amount
REVENUE	$98M
Cost of Revenue	$46M
GROSS PROFIT	$52M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$14M
SG&A Expenses	$14M
Other Expenses	$11M
Operating Expenses	$25M
Cost & Expenses	$71M
OPERATING INCOME	$27M
Interest Income	$82M
Interest Expense	$44M
Other Income/Expenses	$0
INCOME BEFORE TAX	$27M
Income Tax Expense	$8M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$2M
EBIT	$27M
EBITDA	$30M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$98M
Cost of Revenue	$46M
GROSS PROFIT	$52M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$14M
SG&A Expenses	$14M
Other Expenses	$11M
Operating Expenses	$25M
Cost & Expenses	$71M
OPERATING INCOME	$27M
Interest Income	$82M
Interest Expense	$44M
Other Income/Expenses	$0
INCOME BEFORE TAX	$27M
Income Tax Expense	$8M
Net Income from Continuing Ops	$19M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$19M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$19M
D&A	$2M
EBIT	$27M
EBITDA	$30M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$19M
Depreciation & Amortization	$2M
Stock-Based Compensation	$0
Deferred Income Tax	$2.0K
Other Non-Cash Items	$1M
Change in Working Capital	$1M
OPERATING CASH FLOW	$24M
Capital Expenditure	-$740.0K
Acquisitions (Net)	$0
Purchases of Investments	-$15M
Sales/Maturities of Investments	$41M
Other Investing Activities	-$84M
NET CASH FROM INVESTING	-$59M
Net Debt Issuance	$76M
Common Stock Repurchased	$0
Common Dividends Paid	-$11M
Other Financing Activities	-$14M
NET CASH FROM FINANCING	$49M
FREE CASH FLOW	$23M
Net Change in Cash	$14M

Balance Sheet

Item	Amount
Cash & Equivalents	$50M
Short-Term Investments	$0
Net Receivables	$8M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$57M
PP&E (Net)	$5M
Goodwill	$8M
Intangible Assets	$0
Long-Term Investments	$1.2B
Tax Assets	$0
Other Non-Current Assets	$42M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$1.3B
Account Payables	$0
Short-Term Debt	$170M
Deferred Revenue	$0
Other Current Liabilities	$911M
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$124M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$14M
TOTAL NON-CURRENT LIABILITIES	$138M
TOTAL LIABILITIES	$1.2B
Common Stock	$3M
Additional Paid-In Capital	$32M
Retained Earnings	$87M
Treasury Stock	$0
Accum. Other Comp. Income	-$478.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$122M
Minority Interest	$0
TOTAL EQUITY	$122M
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$293M
Net Debt	$244M