ALRS FY 2016 Earnings Report — Alerus Financial Corporation Revenue & Financial Results | Market Cap Arena

Alerus Financial CorporationALRS

FY 2016 Earnings

Reported December 30, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$173M	—	$140M	—	23.1%
Op. Income	$21M	—	$24M	—	-11.0%
Gross Margin	94.2%	—	94.5%	—	-0.4pp
Net Margin	8.1%	—	12.2%	—	-4.1pp
EPS (Diluted)	$1.00	—	$1.21	—	-17.4%
Free Cash Flow	$32M	—	$20M	—	57.9%

Revenue Flow

Item	Amount
REVENUE	$173M
Cost of Revenue	$10M
GROSS PROFIT	$163M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$86M
SG&A Expenses	$89M
Other Expenses	$52M
Operating Expenses	$141M
Cost & Expenses	$151M
OPERATING INCOME	$21M
Interest Income	$70M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$21M
Income Tax Expense	$7M
Net Income from Continuing Ops	$14M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$14M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$14M
D&A	$11M
EBIT	$21M
EBITDA	$33M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$173M
Cost of Revenue	$10M
GROSS PROFIT	$163M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$86M
SG&A Expenses	$89M
Other Expenses	$52M
Operating Expenses	$141M
Cost & Expenses	$151M
OPERATING INCOME	$21M
Interest Income	$70M
Interest Expense	$7M
Other Income/Expenses	$0
INCOME BEFORE TAX	$21M
Income Tax Expense	$7M
Net Income from Continuing Ops	$14M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$14M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$14M
D&A	$11M
EBIT	$21M
EBITDA	$33M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$14M
Depreciation & Amortization	$11M
Stock-Based Compensation	$1M
Deferred Income Tax	-$3M
Other Non-Cash Items	$4M
Change in Working Capital	$6M
OPERATING CASH FLOW	$34M
Capital Expenditure	-$2M
Acquisitions (Net)	-$45M
Purchases of Investments	-$82M
Sales/Maturities of Investments	$103M
Other Investing Activities	-$33M
NET CASH FROM INVESTING	-$59M
Net Debt Issuance	-$32M
Common Stock Repurchased	-$357.0K
Common Dividends Paid	-$6M
Other Financing Activities	$25M
NET CASH FROM FINANCING	-$33M
FREE CASH FLOW	$32M
Net Change in Cash	-$59M

Balance Sheet

Item	Amount
Cash & Equivalents	$207M
Short-Term Investments	$277M
Net Receivables	$24M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$512M
PP&E (Net)	$24M
Goodwill	$27M
Intangible Assets	$38M
Long-Term Investments	$1.4B
Tax Assets	$20M
Other Non-Current Assets	$43M
TOTAL NON-CURRENT ASSETS	$1.5B
TOTAL ASSETS	$2.1B
Account Payables	$0
Short-Term Debt	$729.0K
Deferred Revenue	$0
Other Current Liabilities	$1.8B
TOTAL CURRENT LIABILITIES	$1.8B
Long-Term Debt	$58M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$59M
TOTAL LIABILITIES	$1.9B
Common Stock	$14M
Additional Paid-In Capital	$24M
Retained Earnings	$133M
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$169M
Minority Interest	$0
TOTAL EQUITY	$169M
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$60M
Net Debt	-$148M