ALRS FY 2019 Earnings Report — Alerus Financial Corporation Revenue & Financial Results | Market Cap Arena

Alerus Financial CorporationALRS

FY 2019 Earnings

Reported March 26, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$205M	—	$188M	—	8.7%
Op. Income	$39M	—	$33M	—	17.7%
Gross Margin	87.3%	—	88.8%	—	-1.5pp
Net Margin	14.4%	—	13.7%	—	0.7pp
EPS (Diluted)	$1.91	—	$1.84	—	3.8%
Free Cash Flow	$16M	—	$50M	—	-67.2%

Revenue Flow

Item	Amount
REVENUE	$205M
Cost of Revenue	$26M
GROSS PROFIT	$179M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$74M
SG&A Expenses	$77M
Other Expenses	$63M
Operating Expenses	$140M
Cost & Expenses	$166M
OPERATING INCOME	$39M
Interest Income	$93M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$39M
Income Tax Expense	$9M
Net Income from Continuing Ops	$30M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$30M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$9M
EBIT	$39M
EBITDA	$48M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$205M
Cost of Revenue	$26M
GROSS PROFIT	$179M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$74M
SG&A Expenses	$77M
Other Expenses	$63M
Operating Expenses	$140M
Cost & Expenses	$166M
OPERATING INCOME	$39M
Interest Income	$93M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$39M
Income Tax Expense	$9M
Net Income from Continuing Ops	$30M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$30M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$9M
EBIT	$39M
EBITDA	$48M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$30M
Depreciation & Amortization	$9M
Stock-Based Compensation	$2M
Deferred Income Tax	$337.0K
Other Non-Cash Items	-$16M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$19M
Capital Expenditure	-$3M
Acquisitions (Net)	$10M
Purchases of Investments	-$123M
Sales/Maturities of Investments	$70M
Other Investing Activities	-$20M
NET CASH FROM INVESTING	-$66M
Net Debt Issuance	-$94M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$9M
Other Financing Activities	$191M
NET CASH FROM FINANCING	$150M
FREE CASH FLOW	$16M
Net Change in Cash	$103M

Balance Sheet

Item	Amount
Cash & Equivalents	$144M
Short-Term Investments	$310M
Net Receivables	$21M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$480M
PP&E (Net)	$29M
Goodwill	$27M
Intangible Assets	$22M
Long-Term Investments	$1.7B
Tax Assets	$8M
Other Non-Current Assets	$41M
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$2.4B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$2.0B
TOTAL CURRENT LIABILITIES	$2.0B
Long-Term Debt	$58M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$68M
TOTAL LIABILITIES	$2.1B
Common Stock	$17M
Additional Paid-In Capital	$89M
Retained Earnings	$178M
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$286M
Minority Interest	$0
TOTAL EQUITY	$286M
TOTAL LIABILITIES & EQUITY	$2.4B
Total Debt	$68M
Net Debt	-$76M