2013 Q3 Form 10-Q Financial Statement

#000119312513434078 Filed on November 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q3
Revenue $76.71M $81.34M
YoY Change -5.69% -3.97%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $9.075M $11.32M
YoY Change -19.85% -18.83%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $32.60M $28.43M
YoY Change 14.67% -2.69%
Income Tax $10.43M $9.099M
% Of Pretax Income 32.0% 32.0%
Net Earnings $22.17M $19.33M
YoY Change 14.67% -3.41%
Net Earnings / Revenue 28.9% 23.77%
Basic Earnings Per Share $0.44 $0.38
Diluted Earnings Per Share $0.44 $0.38
COMMON SHARES
Basic Shares Outstanding 50.38M shares 50.28M shares
Diluted Shares Outstanding 50.47M shares 50.30M shares

Balance Sheet

Concept 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $342.0M $436.3M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $69.50M $73.41M
YoY Change -5.33% -3.41%
Goodwill $375.6M $375.6M
YoY Change -0.01%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $8.514B $8.381B
YoY Change 1.58% -2.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $64.00M $64.00M
YoY Change 0.0% 8.47%
Deferred Revenue
YoY Change
Short-Term Debt $191.0M $288.0M
YoY Change -33.68% 10.77%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $64.00M $64.00M
YoY Change 0.0% 8.47%
LONG-TERM LIABILITIES
Long-Term Debt $199.0M $198.0M
YoY Change 0.51% -2.94%
Other Long-Term Liabilities $2.000M $2.000M
YoY Change 0.0% 0.0%
Total Long-Term Liabilities $201.0M $200.0M
YoY Change 0.5% -2.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $64.00M $64.00M
Total Long-Term Liabilities $201.0M $200.0M
Total Liabilities $7.496B $7.393B
YoY Change 1.4% -2.79%
SHAREHOLDERS EQUITY
Retained Earnings $731.4M $706.7M
YoY Change 3.5%
Common Stock $127.2M $127.2M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.02M $20.22M
YoY Change -20.76%
Treasury Stock Shares 466.7K shares 591.6K shares
Shareholders Equity $1.018B $988.4M
YoY Change
Total Liabilities & Shareholders Equity $8.514B $8.381B
YoY Change 1.58% -2.29%

Cashflow Statement

Concept 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $22.17M $19.33M
YoY Change 14.67% -3.41%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $34.40M $28.10M
YoY Change 22.42% 18.07%
INVESTING ACTIVITIES
Capital Expenditures -$1.600M -$1.200M
YoY Change 33.33% -33.33%
Acquisitions
YoY Change
Other Investing Activities -$74.30M -$160.6M
YoY Change -53.74% -403.59%
Cash From Investing Activities -$75.90M -$161.7M
YoY Change -53.06% -416.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.600M -103.3M
YoY Change -104.45% -220.82%
NET CHANGE
Cash From Operating Activities 34.40M 28.10M
Cash From Investing Activities -75.90M -161.7M
Cash From Financing Activities 4.600M -103.3M
Net Change In Cash -36.90M -236.9M
YoY Change -84.42% -247.69%
FREE CASH FLOW
Cash From Operating Activities $34.40M $28.10M
Capital Expenditures -$1.600M -$1.200M
Free Cash Flow $36.00M $29.30M
YoY Change 22.87% 14.45%

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us-gaap Income Tax Expense Benefit
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114000
ubsi Amounts Reclassified From Accumulated Other Comprehensive Income Loss
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2862000
ubsi Other Comprehensive Income Accretion On Unrealized Loss For Securities Transferred From Available For Sale To Held To Maturity After Tax
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4000
ubsi Increase Decrease In Federal Funds Purchased Securities Sold Under Agreements To Repurchase And Other Short Term Borrowings Net
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1458000
ubsi Redemption Of Issued Trust Preferred Securities
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ubsi Proceeds From Sales And Redemptions Of Other Investment Securities
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ubsi Other Comprehensive Income Accretion Accretion On Unrealized Loss For Securities Transferred From Available For Sale To Held To Maturity Tax
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2000
ubsi Additions For Additional Credit Losses On Securities For Which Otti Was Previously Recognized
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ubsi Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Actuarial Gain Loss Arising During Period Net Tax
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3515000
ubsi Undistributed Earnings Allocated To Common Stockholders
UndistributedEarningsAllocatedToCommonStockholders
19104000
ubsi Retail Credits Charged Off Period After Discovery Of Fraud
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ubsi Other Real Estate Owned Gains Losses
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MaximumTimeToDeferPaymentOfInterestOnSubordinateDebt
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ubsi Defined Benefit Plan Amortization Of Net Transition Asset Obligation Expected
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ubsi Proceeds From Maturities Sales And Calls Of Available For Sale Securities
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ubsi Other Comprehensive Income Reclassification Of Unrealized Gain To Income Statement Tax Expense Benefit
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ubsi Troubled Debt Restructuring Charge Offs Number Of Contracts
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0
ubsi Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Options Forfeited In Period
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OtherThanTemporaryImpairments
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ubsi Troubled Debt Restructurings Pre Modification Outstanding Recorded Investment
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ubsi Period Of General Widening In Overall Risk Premiums
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ubsi Employee Benefits
EmployeeBenefits
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ubsi Maximum Number Of Options And Stock Appreciation Rights Per Individual Per Year
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OtherRealEstateOwnedExpense
5135000
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ubsi Principal Or Interest Collecting Duration
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ubsi Stock Issued During Period Value Restricted Stock
StockIssuedDuringPeriodValueRestrictedStock
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ubsi Maximum Period For Discontinue Of Accrual Interest On Commercial And Consumer Loan
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1293000
ubsi Retail Credits Amount Deemed Unrecoverable Charged Off Period
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P60D
ubsi Troubled Debt Restructurings Post Modification Outstanding Recorded Investment
TroubledDebtRestructuringsPostModificationOutstandingRecordedInvestment
4590000
ubsi Loans Receivable Gains Losses
LoansReceivableGainsLosses
1247000
ubsi Distribution Of Treasury Stock For Deferred Compensation Plan
DistributionOfTreasuryStockForDeferredCompensationPlan
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ubsi Share Based Compensation Arrangement By Share Based Payment Award Options Forfeited In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue
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MinimumCollectionPeriodForHomeEquityLoanOrHighLoanToValueLoan
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ubsi Other Comprehensive Income Accretion Accretion On Unrealized Loss For Securities Transferred From Available For Sale To Held To Maturity Before Tax
OtherComprehensiveIncomeAccretionAccretionOnUnrealizedLossForSecuritiesTransferredFromAvailableForSaleToHeldToMaturityBeforeTax
6000
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1000
ubsi Other Comprehensive Income Held To Maturity Securities Adjustment Net Of Tax Period Increase Decrease
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4000
ubsi Weighted Average Assumptions Discount Rate
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137000
ubsi Available For Sale Securities With Other Than Temporary Impairment Charges
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ubsi Defined Benefit Plan Amortization Of Net Gains Losses Net Of Tax
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3050000
ubsi Interest On Federal Funds Sold And Other Short Term Investments
InterestOnFederalFundsSoldAndOtherShortTermInvestments
446000
ubsi Proceeds From Issuance Of Trust Preferred Collateralized Debt Obligations
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60000000000
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0.927 pure
ubsi Other Than Temporarily Impaired Collateralization Ratios High
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3.671 pure
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1.280 pure
ubsi Other Than Temporarily Impaired Collateralization Ratios Weighted Average
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36909 shares
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1.22
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89202000
us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
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112000
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1000
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3846000
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1265000
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3791000
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184000
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us-gaap Defined Benefit Plan Expected Return On Plan Assets
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5374000
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9523000
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Writedown Of Securities Tax
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1345000
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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675000
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2205000
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0
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us-gaap Defined Benefit Plan Service Cost
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us-gaap Income Tax Expense Benefit
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151000
ubsi Other Comprehensive Income Accretion On Unrealized Loss For Securities Transferred From Available For Sale To Held To Maturity After Tax
OtherComprehensiveIncomeAccretionOnUnrealizedLossForSecuritiesTransferredFromAvailableForSaleToHeldToMaturityAfterTax
4000
ubsi Increase Decrease In Federal Funds Purchased Securities Sold Under Agreements To Repurchase And Other Short Term Borrowings Net
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0
CY2013Q3 ubsi Undistributed Earnings Allocated To Common Stockholders
UndistributedEarningsAllocatedToCommonStockholders
6538000
CY2013Q3 ubsi Increase Decrease In Other Comprehensive Income
IncreaseDecreaseInOtherComprehensiveIncome
-3719000
CY2013Q3 ubsi Portion Of Impairment Loss Recognized In Other Comprehensive Income
PortionOfImpairmentLossRecognizedInOtherComprehensiveIncome
0
CY2013Q3 ubsi Employee Benefits
EmployeeBenefits
5842000
CY2013Q3 ubsi Distributed Earnings Allocated To Common Stock
DistributedEarningsAllocatedToCommonStock
15597000
CY2013Q3 ubsi Other Real Estate Owned Expense
OtherRealEstateOwnedExpense
1535000
CY2013Q3 ubsi Employee Compensation
EmployeeCompensation
17269000
CY2013Q3 ubsi Defined Benefit Plan Actuarial Net Gains Losses Tax Effect
DefinedBenefitPlanActuarialNetGainsLossesTaxEffect
445000
CY2013Q3 ubsi Other Comprehensive Income Accretion Accretion On Unrealized Loss For Securities Transferred From Available For Sale To Held To Maturity Before Tax
OtherComprehensiveIncomeAccretionAccretionOnUnrealizedLossForSecuritiesTransferredFromAvailableForSaleToHeldToMaturityBeforeTax
2000
CY2013Q3 ubsi Other Comprehensive Income Held To Maturity Securities Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeHeldToMaturitySecuritiesAdjustmentNetOfTaxPeriodIncreaseDecrease
2000
CY2013Q3 ubsi Weighted Average Assumptions Discount Rate
WeightedAverageAssumptionsDiscountRate
0.0440 pure
CY2013Q3 ubsi Available For Sale Securities With Other Than Temporary Impairment Charges
AvailableForSaleSecuritiesWithOtherThanTemporaryImpairmentCharges
0
CY2013Q3 ubsi Interest On Federal Funds Sold And Other Short Term Investments
InterestOnFederalFundsSoldAndOtherShortTermInvestments
157000

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