This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Vantiv Reports Third Quarter 2012 Results

(1) Represents costs associated with our separation from Fifth Third Bank and acquisition and integration costs in connection with our acquisitions.

(2) Represents amortization of intangible assets acquired through business combinations and customer portfolio and related asset acquisitions.

(3) Represents adjustments to income tax expense assuming conversion of non-controlling interests into shares of Class A common stock.

(4) Net income assumes the conversion of non-controlling interests into shares of Class A common stock.

(5) Depreciation and amortization represents expense associated with our property and equipment, assuming that our property and equipment at December 31, 2011 was in place on January 1, 2011.

(6) Represents adjustment to reflect what our 2011 interest expense would have been if the Company’s level of debt and applicable terms as of December 31, 2011 was outstanding on January 1, 2011.

 
Schedule 7
Vantiv, Inc.
Reconciliation of GAAP Net Income to Cash Net Income

(Unaudited)

(in thousands)

 
Nine Months Ended September 30, 2012
GAAP   Transition, Acquisition and Integration(1)   Share-Based Compensation   Comparability Adjustments   Other Adjustments Cash Net Income
 
Revenue $ 1,369,147 $ $ $ $ $ 1,369,147
Network fees and other costs 617,691           617,691  
Net revenue 751,456 751,456
Sales and marketing 212,602 212,602
Other operating costs 119,802 (2,351 ) 117,451
General and administrative 86,387 (3,940 ) (26,889 ) 55,558
Depreciation and amortization 119,181         (88,155 ) (2) 31,026  
Income from operations 213,484 6,291 26,889 88,155 334,819
Interest expense—net (44,675 ) (44,675 )
Non-operating expenses (92,672 )       92,672   (3)  
Income before applicable income taxes 76,137 6,291 26,889 180,827 290,144
Income tax expense 22,848   2,422   10,352     76,083   (4) 111,705  
Net income(5) $ 53,289   $ 3,869   $ 16,537   $   $ 104,744   $ 178,439  
 
Nine Months Ended September 30, 2011
GAAP   Transition, Acquisition and Integration(1)   Share-Based Compensation   Comparability Adjustments Other Adjustments Cash Net Income
 
Revenue $ 1,183,374 $ $ $ $ $ 1,183,374
Network fees and other costs 560,376           560,376  
Net revenue 622,998 622,998
Sales and marketing 172,284 (291 ) 171,993
Other operating costs 107,748 (12,413 ) 95,335
General and administrative 68,503 (19,021 ) (2,202 ) 47,280
Depreciation and amortization 115,767       1,734   (6) (93,221 ) (2) 24,280  
Income from operations 158,696 31,725 2,202 (1,734 ) 93,221 284,110
Interest expense—net (85,771 ) 5,897 (7) (79,874 )
Non-operating expenses (13,799 )       13,799   (3)  
Income before applicable income taxes 59,126 31,725 2,202 4,163 107,020 204,236
Income tax expense 14,083   12,215   848   1,603   49,883   (4) 78,632  
Net income(5) $ 45,043   $ 19,510   $ 1,354   $ 2,560   $ 57,137   $ 125,604  
 

Non-GAAP Financial Measures

This schedule presents net revenue and cash net income. These are important financial performance measures for the company, but are not financial measures as defined by GAAP. Such financial measures should not be considered as alternatives to GAAP net income, and such measures may not be comparable to those reported by other companies.

6 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,982.59 +22.02 0.13%
S&P 500 1,978.91 +0.57 0.03%
NASDAQ 4,444.9090 -4.6550 -0.10%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs