BSRR FY 2013 Earnings Report — Sierra Bancorp Revenue & Financial Results | Market Cap Arena

Sierra BancorpBSRR

FY 2013 Earnings

Reported March 13, 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	$67M	—	$71M	—	-6.0%
Op. Income	$16M	—	$8M	—	109.9%
Gross Margin	88.6%	—	73.8%	—	14.8pp
Net Margin	20.1%	—	11.6%	—	8.5pp
EPS (Diluted)	$0.94	—	$0.58	—	62.1%
Free Cash Flow	$33M	—	$35M	—	-5.3%

Revenue Flow

Item	Amount
REVENUE	$67M
Cost of Revenue	$8M
GROSS PROFIT	$59M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$22M
SG&A Expenses	$24M
Other Expenses	$19M
Operating Expenses	$42M
Cost & Expenses	$50M
OPERATING INCOME	$16M
Interest Income	$52M
Interest Expense	$3M
Other Income/Expenses	$0
INCOME BEFORE TAX	$16M
Income Tax Expense	$3M
Net Income from Continuing Ops	$13M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$13M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$13M
D&A	$2M
EBIT	$16M
EBITDA	$19M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$67M
Cost of Revenue	$8M
GROSS PROFIT	$59M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$22M
SG&A Expenses	$24M
Other Expenses	$19M
Operating Expenses	$42M
Cost & Expenses	$50M
OPERATING INCOME	$16M
Interest Income	$52M
Interest Expense	$3M
Other Income/Expenses	$0
INCOME BEFORE TAX	$16M
Income Tax Expense	$3M
Net Income from Continuing Ops	$13M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$13M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$13M
D&A	$2M
EBIT	$16M
EBITDA	$19M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$13M
Depreciation & Amortization	$2M
Stock-Based Compensation	$268.0K
Deferred Income Tax	$2M
Other Non-Cash Items	$13M
Change in Working Capital	$3M
OPERATING CASH FLOW	$34M
Capital Expenditure	-$667.0K
Acquisitions (Net)	$0
Purchases of Investments	-$160M
Sales/Maturities of Investments	$102M
Other Investing Activities	$80M
NET CASH FROM INVESTING	$21M
Net Debt Issuance	-$42M
Common Stock Repurchased	$0
Common Dividends Paid	-$4M
Other Financing Activities	$6M
NET CASH FROM FINANCING	-$39M
FREE CASH FLOW	$33M
Net Change in Cash	$16M

Balance Sheet

Item	Amount
Cash & Equivalents	$78M
Short-Term Investments	$425M
Net Receivables	$5M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$511M
PP&E (Net)	$20M
Goodwill	$6M
Intangible Assets	$0
Long-Term Investments	$802M
Tax Assets	$12M
Other Non-Current Assets	$59M
TOTAL NON-CURRENT ASSETS	$899M
TOTAL ASSETS	$1.4B
Account Payables	$0
Short-Term Debt	$6M
Deferred Revenue	$0
Other Current Liabilities	$1.2B
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$31M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$17M
TOTAL NON-CURRENT LIABILITIES	$48M
TOTAL LIABILITIES	$1.2B
Common Stock	$66M
Additional Paid-In Capital	$3M
Retained Earnings	$113M
Treasury Stock	$0
Accum. Other Comp. Income	$429.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$182M
Minority Interest	$0
TOTAL EQUITY	$182M
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$37M
Net Debt	-$41M