2013 Q4 Form 10-Q Financial Statement

#000119312513411333 Filed on October 25, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $54.26M $54.32M $52.29M
YoY Change 2.04% 3.88%
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 $7.019M $8.186M $10.59M
YoY Change -29.0% -22.73%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $20.30M $20.42M $16.37M
YoY Change 26.64% 24.74% 24.95%
Income Tax $4.948M $4.884M $3.463M
% Of Pretax Income 24.37% 23.92% 21.16%
Net Earnings $15.35M $15.54M $12.91M
YoY Change 20.89% 20.37% 17.33%
Net Earnings / Revenue 28.3% 28.6% 24.68%
Basic Earnings Per Share $0.52 $0.53 $0.48
Diluted Earnings Per Share $0.52 $0.53 $0.48
COMMON SHARES
Basic Shares Outstanding 29.35M shares 29.33M shares 26.66M shares
Diluted Shares Outstanding 29.41M shares 26.67M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.628B $1.682B
YoY Change -6.91%
Cash & Equivalents $95.55M $145.6M $116.4M
Short-Term Investments $1.533B $1.536B
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $93.16M $92.70M $80.00M
YoY Change 4.83% 15.87% -3.61%
Goodwill $312.1M
YoY Change -0.26%
Intangibles
YoY Change
Long-Term Investments $4.600M
YoY Change 0.0%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $6.145B $6.138B $5.577B
YoY Change 1.09% 10.07% 1.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.000M $4.000M $5.000M
YoY Change -50.0% -20.0% -16.67%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $151.0M $124.0M $187.0M
YoY Change 5.59% -33.69% -3.11%
Long-Term Debt Due $20.00M
YoY Change
Total Short-Term Liabilities $2.000M $24.00M $5.000M
YoY Change -50.0% 380.0% -16.67%
LONG-TERM LIABILITIES
Long-Term Debt $106.0M $106.0M $106.0M
YoY Change -7.02% 0.0% 0.0%
Other Long-Term Liabilities $37.00M $47.00M $40.00M
YoY Change -22.92% 17.5% 33.33%
Total Long-Term Liabilities $143.0M $153.0M $146.0M
YoY Change -11.73% 4.79% 7.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.000M $24.00M $5.000M
Total Long-Term Liabilities $143.0M $153.0M $146.0M
Total Liabilities $5.398B $5.402B $4.918B
YoY Change 0.63% 9.83% 1.03%
SHAREHOLDERS EQUITY
Retained Earnings $460.4M $450.8M
YoY Change 9.8%
Common Stock $306.2M $305.5M
YoY Change 1.2%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.969M
YoY Change
Treasury Stock Shares 192.3K shares
Shareholders Equity $746.6M $736.7M $659.3M
YoY Change
Total Liabilities & Shareholders Equity $6.145B $6.138B $5.577B
YoY Change 1.09% 10.07% 1.36%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $15.35M $15.54M $12.91M
YoY Change 20.89% 20.37% 17.33%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $22.90M $22.60M $17.70M
YoY Change 78.91% 27.68% -12.38%
INVESTING ACTIVITIES
Capital Expenditures -$2.200M -$2.600M -$1.000M
YoY Change -37.14% 160.0% 66.67%
Acquisitions
YoY Change
Other Investing Activities -$67.70M $4.900M -$38.50M
YoY Change -147.78% -112.73% 71.88%
Cash From Investing Activities -$69.90M $2.300M -$39.50M
YoY Change -150.58% -105.82% 71.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.000M 42.70M 35.40M
YoY Change -97.89% 20.62% -45.62%
NET CHANGE
Cash From Operating Activities 22.90M 22.60M 17.70M
Cash From Investing Activities -69.90M 2.300M -39.50M
Cash From Financing Activities -3.000M 42.70M 35.40M
Net Change In Cash -50.00M 67.60M 13.60M
YoY Change -649.45% 397.06% -78.14%
FREE CASH FLOW
Cash From Operating Activities $22.90M $22.60M $17.70M
Capital Expenditures -$2.200M -$2.600M -$1.000M
Free Cash Flow $25.10M $25.20M $18.70M
YoY Change 53.99% 34.76% -10.1%

Facts In Submission

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CY2013Q3 us-gaap Interest Expense Money Market Deposits
InterestExpenseMoneyMarketDeposits
345000
CY2013Q3 us-gaap Interest Expense
InterestExpense
8186000
CY2013Q3 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
16480000
CY2013Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1015000
CY2013Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
57992000
CY2013Q3 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
552000
CY2013Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
918000
CY2013Q3 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
2819000
CY2013Q3 us-gaap Interest Expense Junior Subordinated Debentures
InterestExpenseJuniorSubordinatedDebentures
805000
CY2013Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
916000
CY2013Q3 us-gaap Interest Expense Demand Deposit Accounts
InterestExpenseDemandDepositAccounts
369000
CY2013Q3 us-gaap Interest Expense Deposits
InterestExpenseDeposits
6439000
CY2013Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
556000
CY2013Q3 us-gaap Occupancy Net
OccupancyNet
2921000
CY2013Q3 us-gaap Interest Expense Savings Deposits
InterestExpenseSavingsDeposits
128000
CY2013Q3 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
11000
CY2013Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
742000
CY2013Q3 us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
508000
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4884000
CY2013Q3 wsbc Restructuring And Merger Related Charges
RestructuringAndMergerRelatedCharges
36000
CY2013Q3 wsbc Other Comprehensive Income Reclassification Adjustment For Securities Transferred From Available For Sale To Held To Maturity Before Tax
OtherComprehensiveIncomeReclassificationAdjustmentForSecuritiesTransferredFromAvailableForSaleToHeldToMaturityBeforeTax
-207000
CY2013Q3 wsbc Other Comprehensive Income Reclassification Adjustment For Securities Transferred From Available For Sale To Held To Maturity Tax
OtherComprehensiveIncomeReclassificationAdjustmentForSecuritiesTransferredFromAvailableForSaleToHeldToMaturityTax
76000
CY2013Q3 wsbc Net Gain Loss On Other Real Estate Owned And Other Assets
NetGainLossOnOtherRealEstateOwnedAndOtherAssets
8000
CY2013Q3 wsbc Other Comprehensive Income Loss Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentsNetOfTax
455000
CY2013Q3 wsbc Employee Benefits
EmployeeBenefits
5323000
CY2013Q3 wsbc Electronic Banking Fees
ElectronicBankingFees
3124000
CY2013Q3 wsbc Other Comprehensive Income Reclassification Adjustment For Securities Transferred From Available For Sale To Held To Maturity Net Of Tax
OtherComprehensiveIncomeReclassificationAdjustmentForSecuritiesTransferredFromAvailableForSaleToHeldToMaturityNetOfTax
-131000

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