BWFG FY 2017 Earnings Report — Bankwell Financial Group, Inc. Revenue & Financial Results | Market Cap Arena

Bankwell Financial Group, Inc.BWFG

FY 2017 Earnings

Reported March 30, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$76M	—	$64M	—	19.1%
Op. Income	$25M	—	$18M	—	37.2%
Gross Margin	76.0%	—	75.2%	—	0.9pp
Net Margin	18.2%	—	19.4%	—	-1.2pp
EPS (Diluted)	$1.78	—	$1.62	—	9.9%
Free Cash Flow	$19M	—	$9M	—	108.4%

Revenue Flow

Item	Amount
REVENUE	$76M
Cost of Revenue	$18M
GROSS PROFIT	$58M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$18M
SG&A Expenses	$20M
Other Expenses	$13M
Operating Expenses	$33M
Cost & Expenses	$51M
OPERATING INCOME	$25M
Interest Income	$71M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$25M
Income Tax Expense	$11M
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	$2M
EBIT	$25M
EBITDA	$27M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$76M
Cost of Revenue	$18M
GROSS PROFIT	$58M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$18M
SG&A Expenses	$20M
Other Expenses	$13M
Operating Expenses	$33M
Cost & Expenses	$51M
OPERATING INCOME	$25M
Interest Income	$71M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$25M
Income Tax Expense	$11M
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	$2M
EBIT	$25M
EBITDA	$27M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$14M
Depreciation & Amortization	$2M
Stock-Based Compensation	$917.0K
Deferred Income Tax	$4M
Other Non-Cash Items	-$211.0K
Change in Working Capital	$615.0K
OPERATING CASH FLOW	$21M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$75M
Sales/Maturities of Investments	$66M
Other Investing Activities	-$183M
NET CASH FROM INVESTING	-$194M
Net Debt Issuance	$39M
Common Stock Repurchased	$0
Common Dividends Paid	-$2M
Other Financing Activities	$111M
NET CASH FROM FINANCING	$148M
FREE CASH FLOW	$19M
Net Change in Cash	-$26M

Balance Sheet

Item	Amount
Cash & Equivalents	$71M
Short-Term Investments	$92M
Net Receivables	$6M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$169M
PP&E (Net)	$18M
Goodwill	$3M
Intangible Assets	$382.0K
Long-Term Investments	$1.5B
Tax Assets	$5M
Other Non-Current Assets	$57M
TOTAL NON-CURRENT ASSETS	$1.6B
TOTAL ASSETS	$1.8B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$1.4B
TOTAL CURRENT LIABILITIES	$1.4B
Long-Term Debt	$224M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$224M
TOTAL LIABILITIES	$1.6B
Common Stock	$118M
Additional Paid-In Capital	$0
Retained Earnings	$41M
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$161M
Minority Interest	$0
TOTAL EQUITY	$161M
TOTAL LIABILITIES & EQUITY	$1.8B
Total Debt	$224M
Net Debt	$154M