ALRS FY 2018 Earnings Report — Alerus Financial Corporation Revenue & Financial Results | Market Cap Arena

Alerus Financial CorporationALRS

FY 2018 Earnings

Reported December 30, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$188M	—	$176M	—	6.7%
Op. Income	$33M	—	$33M	—	1.6%
Gross Margin	88.8%	—	93.6%	—	-4.8pp
Net Margin	13.7%	—	8.5%	—	5.2pp
EPS (Diluted)	$1.84	—	$1.07	—	72.0%
Free Cash Flow	$50M	—	$45M	—	10.8%

Revenue Flow

Item	Amount
REVENUE	$188M
Cost of Revenue	$21M
GROSS PROFIT	$167M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$69M
SG&A Expenses	$73M
Other Expenses	$61M
Operating Expenses	$134M
Cost & Expenses	$155M
OPERATING INCOME	$33M
Interest Income	$88M
Interest Expense	$12M
Other Income/Expenses	$0
INCOME BEFORE TAX	$33M
Income Tax Expense	$7M
Net Income from Continuing Ops	$26M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$26M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$9M
EBIT	$33M
EBITDA	$42M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$188M
Cost of Revenue	$21M
GROSS PROFIT	$167M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$69M
SG&A Expenses	$73M
Other Expenses	$61M
Operating Expenses	$134M
Cost & Expenses	$155M
OPERATING INCOME	$33M
Interest Income	$88M
Interest Expense	$12M
Other Income/Expenses	$0
INCOME BEFORE TAX	$33M
Income Tax Expense	$7M
Net Income from Continuing Ops	$26M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$26M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$9M
EBIT	$33M
EBITDA	$42M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$26M
Depreciation & Amortization	$9M
Stock-Based Compensation	$2M
Deferred Income Tax	-$20.0K
Other Non-Cash Items	$119.0K
Change in Working Capital	$17M
OPERATING CASH FLOW	$54M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$30M
Sales/Maturities of Investments	$44M
Other Investing Activities	-$165M
NET CASH FROM INVESTING	-$155M
Net Debt Issuance	$63M
Common Stock Repurchased	-$356.0K
Common Dividends Paid	-$7M
Other Financing Activities	-$36M
NET CASH FROM FINANCING	$20M
FREE CASH FLOW	$50M
Net Change in Cash	-$81M

Balance Sheet

Item	Amount
Cash & Equivalents	$41M
Short-Term Investments	$250M
Net Receivables	$22M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$318M
PP&E (Net)	$22M
Goodwill	$27M
Intangible Assets	$27M
Long-Term Investments	$1.7B
Tax Assets	$10M
Other Non-Current Assets	$46M
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$2.2B
Account Payables	$0
Short-Term Debt	$93M
Deferred Revenue	$0
Other Current Liabilities	$1.8B
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$58M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$24M
TOTAL NON-CURRENT LIABILITIES	$83M
TOTAL LIABILITIES	$2.0B
Common Stock	$14M
Additional Paid-In Capital	$28M
Retained Earnings	$159M
Treasury Stock	$0
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$197M
Minority Interest	$0
TOTAL EQUITY	$197M
TOTAL LIABILITIES & EQUITY	$2.2B
Total Debt	$152M
Net Debt	$112M