ALRS FY 2013 Earnings Report — Alerus Financial Corporation Revenue & Financial Results | Market Cap Arena

Alerus Financial CorporationALRS

FY 2013 Earnings

Reported December 30, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$124M	—	$132M	—	-5.9%
Op. Income	$32M	—	$26M	—	24.3%
Gross Margin	96.0%	—	95.9%	—	0.2pp
Net Margin	16.3%	—	12.3%	—	4.0pp
EPS (Diluted)	$1.46	—	$1.17	—	24.8%
Free Cash Flow	$54M	—	$0	—	—

Revenue Flow

Item	Amount
REVENUE	$124M
Cost of Revenue	$5M
GROSS PROFIT	$119M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$64M
SG&A Expenses	$66M
Other Expenses	$21M
Operating Expenses	$87M
Cost & Expenses	$92M
OPERATING INCOME	$32M
Interest Income	$51M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$32M
Income Tax Expense	$12M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$20M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$20M
D&A	$7M
EBIT	$32M
EBITDA	$39M
EPS	$2
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$124M
Cost of Revenue	$5M
GROSS PROFIT	$119M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$64M
SG&A Expenses	$66M
Other Expenses	$21M
Operating Expenses	$87M
Cost & Expenses	$92M
OPERATING INCOME	$32M
Interest Income	$51M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$32M
Income Tax Expense	$12M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$20M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$20M
D&A	$7M
EBIT	$32M
EBITDA	$39M
EPS	$2
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$20M
Depreciation & Amortization	$7M
Stock-Based Compensation	$1M
Deferred Income Tax	-$974.0K
Other Non-Cash Items	$215.0K
Change in Working Capital	$30M
OPERATING CASH FLOW	$58M
Capital Expenditure	-$4M
Acquisitions (Net)	-$2M
Purchases of Investments	-$68M
Sales/Maturities of Investments	$45M
Other Investing Activities	-$138M
NET CASH FROM INVESTING	-$166M
Net Debt Issuance	-$5M
Common Stock Repurchased	-$203.0K
Common Dividends Paid	-$5M
Other Financing Activities	$67M
NET CASH FROM FINANCING	$57M
FREE CASH FLOW	$54M
Net Change in Cash	-$51M

Balance Sheet

Item	Amount
Cash & Equivalents	$73M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$73M
PP&E (Net)	$98M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$1.2B
Tax Assets	$0
Other Non-Current Assets	$4M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$1.4B
Account Payables	$16M
Short-Term Debt	$8M
Deferred Revenue	$0
Other Current Liabilities	$1.2B
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$22M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$22M
TOTAL LIABILITIES	$1.2B
Common Stock	$27M
Additional Paid-In Capital	$0
Retained Earnings	$110M
Treasury Stock	$0
Accum. Other Comp. Income	$209.0K
Other Equity	-$3M
TOTAL STOCKHOLDERS' EQUITY	$153M
Minority Interest	$0
TOTAL EQUITY	$153M
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$30M
Net Debt	-$43M