WTBA FY 2012 Earnings Report — West Bancorporation, Inc. Revenue & Financial Results | Market Cap Arena

West Bancorporation, Inc.WTBA

FY 2012 Earnings

Reported March 6, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$61M	—	$62M	—	-1.7%
Op. Income	$23M	—	$21M	—	6.7%
Gross Margin	83.5%	—	80.0%	—	3.5pp
Net Margin	26.2%	—	24.5%	—	1.6pp
EPS (Diluted)	$0.92	—	$0.74	—	24.3%
Free Cash Flow	$23M	—	$25M	—	-7.2%

Revenue Flow

Item	Amount
REVENUE	$61M
Cost of Revenue	$10M
GROSS PROFIT	$51M
R&D Expenses	$0
Selling & Marketing	$268.0K
General & Administrative	$18M
SG&A Expenses	$19M
Other Expenses	$10M
Operating Expenses	$28M
Cost & Expenses	$38M
OPERATING INCOME	$23M
Interest Income	$51M
Interest Expense	$9M
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	$5M
EBIT	$23M
EBITDA	$28M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$61M
Cost of Revenue	$10M
GROSS PROFIT	$51M
R&D Expenses	$0
Selling & Marketing	$268.0K
General & Administrative	$18M
SG&A Expenses	$19M
Other Expenses	$10M
Operating Expenses	$28M
Cost & Expenses	$38M
OPERATING INCOME	$23M
Interest Income	$51M
Interest Expense	$9M
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	$5M
EBIT	$23M
EBITDA	$28M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$16M
Depreciation & Amortization	$5M
Stock-Based Compensation	$118.0K
Deferred Income Tax	$639.0K
Other Non-Cash Items	$1M
Change in Working Capital	$1M
OPERATING CASH FLOW	$24M
Capital Expenditure	-$1M
Acquisitions (Net)	$0
Purchases of Investments	-$98M
Sales/Maturities of Investments	$88M
Other Investing Activities	-$88M
NET CASH FROM INVESTING	-$99M
Net Debt Issuance	-$11M
Common Stock Repurchased	$0
Common Dividends Paid	-$6M
Other Financing Activities	$177M
NET CASH FROM FINANCING	$160M
FREE CASH FLOW	$23M
Net Change in Cash	$84M

Balance Sheet

Item	Amount
Cash & Equivalents	$60M
Short-Term Investments	$292M
Net Receivables	$4M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$356M
PP&E (Net)	$6M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$915M
Tax Assets	$7M
Other Non-Current Assets	$164M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$1.4B
Account Payables	$0
Short-Term Debt	$56M
Deferred Revenue	$0
Other Current Liabilities	$1.1B
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$115M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$115M
TOTAL LIABILITIES	$1.3B
Common Stock	$3M
Additional Paid-In Capital	$34M
Retained Earnings	$96M
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$135M
Minority Interest	$0
TOTAL EQUITY	$135M
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$170M
Net Debt	$110M