Provident Financial Services (PFS) FY2013 results: revenue $260 million, down 0.3% on the year
Provident Financial Services Inc. (PFS) reported revenue of $260 million for fiscal 2013, the year ended 31 December 2013, down 0.3% on the year before. Net income was $71 million, up 4.9%, and diluted earnings per share $1.23. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2014.
Revenue
$260 million
-0.3% on the year
FY2008FY2013
Operating margin
n/a
FY2008FY2013
Net income
$71 million
+4.9% on the year
FY2008FY2013
Diluted EPS
$1.23
+4.2% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
260
261
249
-0.3%
Interest expense
36.8
44.9
59.7
-18.2%
Pre-tax income
106
96.1
77.2
+10.2%
Income tax
35.4
28.9
19.8
+22.6%
Effective tax rate
33.4%
30.0%
25.7%
Net income
70.5
67.3
57.3
+4.9%
Net margin
27.1%
25.8%
23.1%
Diluted EPS
$1.23
$1.18
$1.01
+4.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
120
108
93.8
+10.7%
Capital expenditure
7.7
7.7
8.5
+0.7%
Free cash flow
112
101
85.3
+11.5%
Cash from investing
-259
-185
-279
Cash from financing
137
111
203
+23.3%
Depreciation and amortisation
8.8
9.3
9.7
-5.9%
Buybacks
5.9
9.4
4.1
-37.4%
Dividends paid
32.3
40.7
26.8
-20.6%
Diluted shares, weighted
57m
57m
57m
+0.3%
Shares outstanding at period end
60m
60m
60m
-0.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,011
981
952
+3.0%
Deposits
5,202
5,428
5,157
-4.2%
Debt
1,204
803
920
+49.9%
Other liabilities
70.2
70.9
68.1
-1.0%
Total liabilities and equity
7,487
7,284
7,097
+2.8%
Fixed assets
66.4
66.1
66.3
+0.5%
Goodwill
353
353
353
0.0%
Securities held for sale or to maturity
358
359
348
-0.5%
Loans
5,130
4,834
4,579
+6.1%
Cash and equivalents
101
104
69.6
-2.5%
Other assets
1,479
1,567
1,681
-5.6%
Total assets
7,487
7,284
7,097
+2.8%
10-K for the year ended 31 December 2013, filed 3 March 2014: the filing.