BMRC FY 2013 Earnings Report — Bank of Marin Bancorp Revenue & Financial Results | Market Cap Arena

Bank of Marin BancorpBMRC

FY 2013 Earnings

Reported March 14, 2014

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	$69M	—	$73M	—	-5.8%
Op. Income	$22M	—	$29M	—	-22.6%
Gross Margin	96.6%	—	92.5%	—	4.1pp
Net Margin	20.8%	—	24.4%	—	-3.7pp
EPS (Diluted)	$1.29	—	$1.64	—	-21.3%
Free Cash Flow	$20M	—	$20M	—	3.4%

Revenue Flow

Item	Amount
REVENUE	$69M
Cost of Revenue	$2M
GROSS PROFIT	$66M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$23M
SG&A Expenses	$23M
Other Expenses	$21M
Operating Expenses	$44M
Cost & Expenses	$46M
OPERATING INCOME	$22M
Interest Income	$61M
Interest Expense	$2M
Other Income/Expenses	$0
INCOME BEFORE TAX	$22M
Income Tax Expense	$8M
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	$1M
EBIT	$22M
EBITDA	$24M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$69M
Cost of Revenue	$2M
GROSS PROFIT	$66M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$23M
SG&A Expenses	$23M
Other Expenses	$21M
Operating Expenses	$44M
Cost & Expenses	$46M
OPERATING INCOME	$22M
Interest Income	$61M
Interest Expense	$2M
Other Income/Expenses	$0
INCOME BEFORE TAX	$22M
Income Tax Expense	$8M
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	$1M
EBIT	$22M
EBITDA	$24M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$14M
Depreciation & Amortization	$1M
Stock-Based Compensation	$618.0K
Deferred Income Tax	$0
Other Non-Cash Items	-$81.0K
Change in Working Capital	$5M
OPERATING CASH FLOW	$21M
Capital Expenditure	-$958.0K
Acquisitions (Net)	$16M
Purchases of Investments	-$86M
Sales/Maturities of Investments	$59M
Other Investing Activities	-$25M
NET CASH FROM INVESTING	-$37M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$4M
Other Financing Activities	$95M
NET CASH FROM FINANCING	$91M
FREE CASH FLOW	$20M
Net Change in Cash	$75M

Balance Sheet

Item	Amount
Cash & Equivalents	$104M
Short-Term Investments	$244M
Net Receivables	$60M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$408M
PP&E (Net)	$9M
Goodwill	$6M
Intangible Assets	$5M
Long-Term Investments	$1.4B
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$1.4B
TOTAL ASSETS	$1.8B
Account Payables	$17M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$1.6B
TOTAL CURRENT LIABILITIES	$1.6B
Long-Term Debt	$20M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$20M
TOTAL LIABILITIES	$1.6B
Common Stock	$80M
Additional Paid-In Capital	$0
Retained Earnings	$101M
Treasury Stock	$0
Accum. Other Comp. Income	-$672.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$181M
Minority Interest	$0
TOTAL EQUITY	$181M
TOTAL LIABILITIES & EQUITY	$1.8B
Total Debt	$20M
Net Debt	-$84M