BMRC FY 2015 Earnings Report — Bank of Marin Bancorp Revenue & Financial Results | Market Cap Arena

Bank of Marin BancorpBMRC

FY 2015 Earnings

Reported March 11, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$79M	—	$82M	—	-3.9%
Op. Income	$29M	—	$31M	—	-8.1%
Gross Margin	96.5%	—	96.2%	—	0.3pp
Net Margin	23.5%	—	24.2%	—	-0.7pp
EPS (Diluted)	$1.52	—	$1.65	—	-7.9%
Free Cash Flow	$22M	—	$17M	—	34.7%

Revenue Flow

Item	Amount
REVENUE	$79M
Cost of Revenue	$3M
GROSS PROFIT	$76M
R&D Expenses	$0
Selling & Marketing	$334.0K
General & Administrative	$28M
SG&A Expenses	$28M
Other Expenses	$19M
Operating Expenses	$47M
Cost & Expenses	$50M
OPERATING INCOME	$29M
Interest Income	$69M
Interest Expense	$2M
Other Income/Expenses	$0
INCOME BEFORE TAX	$29M
Income Tax Expense	$10M
Net Income from Continuing Ops	$18M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$18M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$18M
D&A	$3M
EBIT	$29M
EBITDA	$32M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$79M
Cost of Revenue	$3M
GROSS PROFIT	$76M
R&D Expenses	$0
Selling & Marketing	$334.0K
General & Administrative	$28M
SG&A Expenses	$28M
Other Expenses	$19M
Operating Expenses	$47M
Cost & Expenses	$50M
OPERATING INCOME	$29M
Interest Income	$69M
Interest Expense	$2M
Other Income/Expenses	$0
INCOME BEFORE TAX	$29M
Income Tax Expense	$10M
Net Income from Continuing Ops	$18M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$18M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$18M
D&A	$3M
EBIT	$29M
EBITDA	$32M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$18M
Depreciation & Amortization	$3M
Stock-Based Compensation	$910.0K
Deferred Income Tax	$0
Other Non-Cash Items	$259.0K
Change in Working Capital	$1M
OPERATING CASH FLOW	$24M
Capital Expenditure	-$1M
Acquisitions (Net)	$0
Purchases of Investments	-$290M
Sales/Maturities of Investments	$115M
Other Investing Activities	-$87M
NET CASH FROM INVESTING	-$263M
Net Debt Issuance	$52M
Common Stock Repurchased	$0
Common Dividends Paid	-$5M
Other Financing Activities	$178M
NET CASH FROM FINANCING	$225M
FREE CASH FLOW	$22M
Net Change in Cash	-$15M

Balance Sheet

Item	Amount
Cash & Equivalents	$26M
Short-Term Investments	$418M
Net Receivables	$62M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$506M
PP&E (Net)	$9M
Goodwill	$6M
Intangible Assets	$3M
Long-Term Investments	$1.5B
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$1.5B
TOTAL ASSETS	$2.0B
Account Payables	$16M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$1.7B
TOTAL CURRENT LIABILITIES	$1.7B
Long-Term Debt	$72M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$72M
TOTAL LIABILITIES	$1.8B
Common Stock	$85M
Additional Paid-In Capital	$0
Retained Earnings	$130M
Treasury Stock	$0
Accum. Other Comp. Income	$193.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$214M
Minority Interest	$0
TOTAL EQUITY	$214M
TOTAL LIABILITIES & EQUITY	$2.0B
Total Debt	$72M
Net Debt	$46M